Hsbc Holdings PLC Reduces Stake in Allegro MicroSystems, Inc. $ALGM

Hsbc Holdings PLC reduced its stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 33.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,894 shares of the company’s stock after selling 17,999 shares during the quarter. Hsbc Holdings PLC’s holdings in Allegro MicroSystems were worth $902,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in Allegro MicroSystems in the 1st quarter valued at $805,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Allegro MicroSystems by 18.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,883 shares of the company’s stock worth $668,000 after purchasing an additional 4,185 shares during the period. Fifth Third Bancorp grew its holdings in shares of Allegro MicroSystems by 63.7% during the 1st quarter. Fifth Third Bancorp now owns 1,295 shares of the company’s stock worth $33,000 after purchasing an additional 504 shares during the period. Frontier Capital Management Co. LLC purchased a new position in shares of Allegro MicroSystems during the 4th quarter worth $1,994,000. Finally, Deutsche Bank AG grew its holdings in shares of Allegro MicroSystems by 295.9% during the 4th quarter. Deutsche Bank AG now owns 26,237 shares of the company’s stock worth $574,000 after purchasing an additional 19,609 shares during the period. 56.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Allegro MicroSystems

In related news, CAO Roald Graham Webster sold 8,266 shares of the stock in a transaction dated Friday, August 22nd. The stock was 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 represents a 32.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.40% of the company’s stock.

Allegro MicroSystems Price Performance

ALGM opened at $30.85 on Friday. The stock’s 50-day moving average price is $33.34 and its 200 day moving average price is $27.66. Allegro MicroSystems, Inc. has a 12-month low of $16.38 and a 12-month high of $38.45. The company has a current ratio of 3.70, a quick ratio of 2.26 and a debt-to-equity ratio of 0.34. The firm has a market cap of $5.71 billion, a price-to-earnings ratio of -83.38 and a beta of 1.74.

Allegro MicroSystems (NASDAQ:ALGM) last posted its earnings results on Thursday, July 31st. The company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. Allegro MicroSystems had a positive return on equity of 2.09% and a negative net margin of 9.00%.The firm had revenue of $203.41 million for the quarter, compared to analyst estimates of $197.82 million. During the same quarter in the prior year, the company earned $0.03 EPS. Allegro MicroSystems’s revenue was up 21.9% on a year-over-year basis. Allegro MicroSystems has set its Q2 2026 guidance at 0.100-0.140 EPS. As a group, sell-side analysts expect that Allegro MicroSystems, Inc. will post 0.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Zacks Research upgraded Allegro MicroSystems to a “hold” rating in a report on Monday, August 11th. Wall Street Zen upgraded Allegro MicroSystems from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. UBS Group increased their price target on Allegro MicroSystems from $35.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, July 7th. Barclays increased their price target on Allegro MicroSystems from $23.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Finally, Bank of America increased their price target on Allegro MicroSystems from $38.00 to $45.00 and gave the stock an “action list buy” rating in a report on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.56.

Allegro MicroSystems 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.