Thrivent Financial for Lutherans Decreases Position in Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Thrivent Financial for Lutherans lowered its stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 15.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 30,736 shares of the company’s stock after selling 5,780 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Allegro MicroSystems were worth $672,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of ALGM. Venturi Wealth Management LLC acquired a new stake in Allegro MicroSystems in the fourth quarter valued at $47,000. Intech Investment Management LLC bought a new stake in shares of Allegro MicroSystems in the 3rd quarter worth about $214,000. Bailard Inc. acquired a new stake in shares of Allegro MicroSystems in the 4th quarter valued at about $254,000. Keybank National Association OH lifted its position in shares of Allegro MicroSystems by 14.9% during the fourth quarter. Keybank National Association OH now owns 11,760 shares of the company’s stock worth $257,000 after purchasing an additional 1,522 shares during the last quarter. Finally, Avior Wealth Management LLC grew its stake in Allegro MicroSystems by 5.3% in the fourth quarter. Avior Wealth Management LLC now owns 14,691 shares of the company’s stock worth $321,000 after purchasing an additional 737 shares in the last quarter. 56.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Morgan Stanley increased their target price on Allegro MicroSystems from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Monday, February 3rd. Needham & Company LLC restated a “buy” rating and set a $30.00 price objective on shares of Allegro MicroSystems in a research note on Monday, February 24th. Wells Fargo & Company boosted their target price on shares of Allegro MicroSystems from $23.00 to $27.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Barclays raised their price target on shares of Allegro MicroSystems from $25.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Finally, Mizuho boosted their price objective on shares of Allegro MicroSystems from $28.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday, March 24th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $31.20.

Allegro MicroSystems Trading Down 1.0 %

Allegro MicroSystems stock opened at $25.91 on Thursday. The firm has a 50-day moving average price of $25.30 and a two-hundred day moving average price of $23.13. Allegro MicroSystems, Inc. has a 52-week low of $18.59 and a 52-week high of $33.26. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of -74.03 and a beta of 1.67. The company has a quick ratio of 3.00, a current ratio of 4.91 and a debt-to-equity ratio of 0.40.

Allegro MicroSystems Company 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.