26,862 Shares in Allegro MicroSystems, Inc. $ALGM Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC acquired a new position in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 26,862 shares of the company’s stock, valued at approximately $1,870,000.

Several other institutional investors also recently modified their holdings of ALGM. Parallel Advisors LLC raised its holdings in shares of Allegro MicroSystems by 42.8% in the 1st quarter. Parallel Advisors LLC now owns 1,008 shares of the company’s stock valued at $32,000 after purchasing an additional 302 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in Allegro MicroSystems by 3.0% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 14,268 shares of the company’s stock worth $376,000 after buying an additional 419 shares during the last quarter. Rakuten Securities Inc. acquired a new position in Allegro MicroSystems during the second quarter worth approximately $31,000. State of Michigan Retirement System raised its stake in Allegro MicroSystems by 2.0% in the first quarter. State of Michigan Retirement System now owns 29,900 shares of the company’s stock valued at $943,000 after buying an additional 600 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its stake in Allegro MicroSystems by 85.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,449 shares of the company’s stock valued at $38,000 after buying an additional 669 shares during the period. 56.45% of the stock is currently owned by institutional investors and hedge funds.

Allegro MicroSystems Stock Performance

ALGM opened at $35.77 on Monday. The business has a fifty day simple moving average of $47.71 and a 200 day simple moving average of $43.38. The company has a market capitalization of $6.67 billion, a PE ratio of 596.27, a price-to-earnings-growth ratio of 1.13 and a beta of 1.94. Allegro MicroSystems, Inc. has a 1 year low of $22.41 and a 1 year high of $71.77. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.70 and a quick ratio of 2.33.

Allegro MicroSystems (NASDAQ:ALGM) last posted its earnings results on Thursday, July 30th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. The company had revenue of $259.24 million during the quarter, compared to the consensus estimate of $251.44 million. Allegro MicroSystems had a return on equity of 8.30% and a net margin of 1.50%.The company’s revenue was up 27.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.09 earnings per share. Allegro MicroSystems has set its Q2 2027 guidance at 0.230-0.260 EPS. Research analysts expect that Allegro MicroSystems, Inc. will post 0.65 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on ALGM shares. Wells Fargo & Company lifted their target price on Allegro MicroSystems from $48.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Wall Street Zen upgraded Allegro MicroSystems from a “hold” rating to a “buy” rating in a research note on Sunday, August 2nd. TD Cowen reduced their price objective on shares of Allegro MicroSystems from $66.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, July 31st. Needham & Company LLC upped their price objective on shares of Allegro MicroSystems from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, Morgan Stanley increased their price objective on shares of Allegro MicroSystems from $51.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $53.45.

Insider Transactions at Allegro MicroSystems

In other Allegro MicroSystems news, SVP Richard Madormo sold 5,000 shares of Allegro MicroSystems stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $52.72, for a total value of $263,600.00. Following the completion of the sale, the senior vice president owned 69,687 shares in the company, valued at $3,673,898.64. The trade was a 6.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Erin Hagen sold 2,285 shares of Allegro MicroSystems stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $44.39, for a total transaction of $101,431.15. Following the completion of the sale, the senior vice president owned 31,052 shares of the company’s stock, valued at $1,378,398.28. This trade represents a 6.85% decrease in their position. The SEC filing for this sale provides additional information. 0.50% of the stock is currently owned by company insiders.

About Allegro MicroSystems

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.