Allegro MicroSystems, Inc. $ALGM Shares Sold by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC has decreased its stake in Allegro MicroSystems by 33.4%, reducing its ownership to 35,894 shares, worth approximately $902,000.
• Other investors, such as SG Americas Securities and Mirae Asset Global Investments, have also altered their positions in Allegro, indicating fluctuating institutional interest in the company.
• Allegro MicroSystems reported earnings of $0.09 per share for the last quarter, matching consensus estimates, with revenues of approximately $203.41 million, representing a year-over-year increase of 21.9%.

Hsbc Holdings PLC reduced its stake in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 33.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,894 shares of the company's stock after selling 17,999 shares during the period. Hsbc Holdings PLC's holdings in Allegro MicroSystems were worth $902,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Northern Trust Corp raised its holdings in Allegro MicroSystems by 1.4% in the 1st quarter. Northern Trust Corp now owns 1,089,779 shares of the company's stock valued at $27,386,000 after acquiring an additional 15,346 shares during the last quarter. Summit Securities Group LLC grew its stake in shares of Allegro MicroSystems by 257.8% during the 1st quarter. Summit Securities Group LLC now owns 4,000 shares of the company's stock valued at $101,000 after buying an additional 2,882 shares during the period. Raymond James Financial Inc. grew its stake in shares of Allegro MicroSystems by 43.4% during the 1st quarter. Raymond James Financial Inc. now owns 993,340 shares of the company's stock valued at $24,963,000 after buying an additional 300,505 shares during the period. Cresset Asset Management LLC purchased a new stake in shares of Allegro MicroSystems during the 1st quarter valued at $202,000. Finally, Ethic Inc. purchased a new stake in shares of Allegro MicroSystems during the 1st quarter valued at $510,000. 56.45% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Morgan Stanley lowered their price objective on shares of Allegro MicroSystems from $38.00 to $35.00 and set an "equal weight" rating for the company in a research note on Friday, August 1st. Zacks Research raised shares of Allegro MicroSystems to a "hold" rating in a research note on Monday, August 11th. Barclays upped their price target on shares of Allegro MicroSystems from $23.00 to $30.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Mizuho upped their price target on shares of Allegro MicroSystems from $37.00 to $40.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Finally, TD Cowen decreased their price target on shares of Allegro MicroSystems from $42.00 to $37.00 and set a "buy" rating for the company in a research report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.56.

Insider Activity at Allegro MicroSystems

In other news, CAO Roald Graham Webster sold 8,266 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $32.81, for a total transaction of $271,207.46. Following the transaction, the chief accounting officer owned 17,300 shares of the company's stock, valued at approximately $567,613. This trade represents a 32.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.40% of the company's stock.

Allegro MicroSystems Stock Up 0.7%

Shares of ALGM stock traded up $0.21 during trading hours on Thursday, hitting $30.04. 699,102 shares of the company were exchanged, compared to its average volume of 2,710,605. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.26 and a current ratio of 3.70. Allegro MicroSystems, Inc. has a one year low of $16.38 and a one year high of $38.45. The business's 50-day simple moving average is $33.21 and its two-hundred day simple moving average is $27.75. The stock has a market capitalization of $5.56 billion, a price-to-earnings ratio of -81.18 and a beta of 1.74.

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. Allegro MicroSystems had a negative net margin of 9.00% and a positive return on equity of 2.09%. The business had revenue of $203.41 million for the quarter, compared to analysts' expectations of $197.82 million. During the same quarter last year, the company posted $0.03 earnings per share. The company's quarterly revenue was up 21.9% compared to the same quarter last year. Allegro MicroSystems has set its Q2 2026 guidance at 0.100-0.140 EPS. Sell-side analysts predict that Allegro MicroSystems, Inc. will post 0.01 EPS for the current fiscal year.

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.