Raymond James Financial Inc. acquired a new position in Allegro MicroSystems, Inc. (NASDAQ:ALGM – Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 692,835 shares of the company’s stock, valued at approximately $15,145,000. Raymond James Financial Inc. owned 0.38% of Allegro MicroSystems at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC bought a new position in Allegro MicroSystems in the fourth quarter worth about $47,000. KBC Group NV raised its holdings in Allegro MicroSystems by 40.9% in the third quarter. KBC Group NV now owns 3,590 shares of the company’s stock worth $84,000 after purchasing an additional 1,042 shares in the last quarter. Intech Investment Management LLC bought a new position in Allegro MicroSystems in the third quarter worth about $214,000. Prosperity Financial Group Inc. raised its holdings in Allegro MicroSystems by 7.9% in the third quarter. Prosperity Financial Group Inc. now owns 10,657 shares of the company’s stock worth $248,000 after purchasing an additional 784 shares in the last quarter. Finally, Bailard Inc. bought a new position in Allegro MicroSystems in the fourth quarter worth about $254,000. 56.45% of the stock is owned by hedge funds and other institutional investors.
Allegro MicroSystems Price Performance
Shares of NASDAQ:ALGM opened at $26.90 on Wednesday. Allegro MicroSystems, Inc. has a twelve month low of $18.59 and a twelve month high of $33.26. The company’s 50 day moving average is $24.77 and its 200 day moving average is $22.83. The company has a current ratio of 4.91, a quick ratio of 3.00 and a debt-to-equity ratio of 0.40. The company has a market cap of $4.95 billion, a PE ratio of -76.86 and a beta of 1.67.
Wall Street Analysts Forecast Growth
Check Out Our Latest Research Report on Allegro MicroSystems
Allegro MicroSystems Profile
Allegro MicroSystems, Inc, together with its subsidiaries, designs, develops, manufactures, and markets sensor integrated circuits (ICs) and application-specific analog power ICs for motion control and energy-efficient systems. Its products include magnetic sensor ICs, such as position, speed, and current sensor ICs; and power ICs comprising motor driver ICs, regulator and LED driver ICs, and isolated gate drivers.
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