Mitsubishi UFJ Trust & Banking Corp Buys Shares of 12,752 Allegro MicroSystems, Inc. $ALGM

Mitsubishi UFJ Trust & Banking Corp bought a new stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 12,752 shares of the company’s stock, valued at approximately $336,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Research Global Investors raised its position in Allegro MicroSystems by 5.8% in the third quarter. Capital Research Global Investors now owns 16,824,722 shares of the company’s stock valued at $491,282,000 after purchasing an additional 920,365 shares during the period. Vanguard Group Inc. raised its position in Allegro MicroSystems by 0.6% in the third quarter. Vanguard Group Inc. now owns 14,293,465 shares of the company’s stock valued at $417,369,000 after purchasing an additional 87,526 shares during the period. State Street Corp raised its position in Allegro MicroSystems by 2.1% in the second quarter. State Street Corp now owns 5,193,001 shares of the company’s stock valued at $177,549,000 after purchasing an additional 108,402 shares during the period. Alliancebernstein L.P. raised its position in Allegro MicroSystems by 189.4% in the second quarter. Alliancebernstein L.P. now owns 2,759,872 shares of the company’s stock valued at $94,360,000 after purchasing an additional 1,806,183 shares during the period. Finally, Adage Capital Partners GP L.L.C. raised its position in Allegro MicroSystems by 3.3% in the second quarter. Adage Capital Partners GP L.L.C. now owns 2,177,560 shares of the company’s stock valued at $74,451,000 after purchasing an additional 69,137 shares during the period. Hedge funds and other institutional investors own 56.45% of the company’s stock.

Allegro MicroSystems Stock Performance

NASDAQ:ALGM opened at $51.37 on Thursday. The company has a fifty day simple moving average of $36.25 and a two-hundred day simple moving average of $32.67. The company has a market cap of $9.52 billion, a price-to-earnings ratio of -642.13 and a beta of 2.02. The company has a quick ratio of 2.39, a current ratio of 3.65 and a debt-to-equity ratio of 0.30. Allegro MicroSystems, Inc. has a 52 week low of $18.17 and a 52 week high of $51.40.

Analyst Ratings Changes

ALGM has been the topic of a number of research analyst reports. Wall Street Zen raised Allegro MicroSystems from a “hold” rating to a “buy” rating in a research report on Sunday, January 18th. Needham & Company LLC boosted their price target on shares of Allegro MicroSystems from $41.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. Barclays boosted their price target on shares of Allegro MicroSystems from $35.00 to $46.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. TD Cowen boosted their price target on shares of Allegro MicroSystems from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Finally, UBS Group boosted their price target on shares of Allegro MicroSystems from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.00.

Allegro MicroSystems Company Profile

Allegro MicroSystems, Inc (NASDAQ: ALGM) is a leading designer and manufacturer of high-performance power and sensing integrated circuits. The company focuses on semiconductor solutions that enable precise motion control, energy-efficient power management and robust sensing in a wide range of applications. Allegro’s product portfolio includes Hall-effect magnetic sensors, current and position sensing ICs, motor driver and controller devices, and power management components.

Allegro MicroSystems serves major automotive, industrial and consumer markets worldwide.