JPMorgan Chase Adds $63M in Allegro MicroSystems, Inc. ($ALGM)
Key Points
- JPMorgan Chase changed its Allegro MicroSystems, Inc. ($ALGM) stake by 17.8% last quarter, boosting to 8,652,068 shares worth $414.61 million.
- Wall Street's consensus rating on $ALGM is Strong Buy and an average price target of $54.42.
- $ALGM last traded around $47.92.
JPMorgan Chase increased its position in Allegro MicroSystems, Inc. ($ALGM) by 17.8% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,652,068 shares of Allegro MicroSystems, Inc. after buying 1,304,646 shares during the quarter. JPMorgan Chase's holdings in Allegro MicroSystems, Inc. were worth $414.61 million as of its most recent filing.
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About Allegro MicroSystems, Inc.
Allegro MicroSystems, Inc., together with its subsidiaries, designs, develops, manufactures, and markets sensor integrated circuits (ICs) and application-specific power ICs for sensing, motion control, and power management functions of complex electromechanical or power conversion systems. Its products include magnetic sensor ICs, such as position, speed, and electric current sensor ICs; and power ICs comprising motor driver ICs, such as regulator, power management ICs, and LED driver ICs, and isolated gate drivers. The company sells its products to original equipment manufacturers and distributors primarily in the automotive and industrial markets through its direct sales force, third party distributors, independent sales representatives, and consignment. The company serves automotive and industrial markets, including advanced industrial markets such as AI data centers, robotics, and energy infrastructure sectors. It operates in the United States, rest of the Americas, Europe, Japan, Greater China, South Korea, and other Asian markets. The company was founded in 1990 and is headquartered in Manchester, New Hampshire.
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