Hsbc Holdings PLC Sells 21,456 Shares of Allegro MicroSystems, Inc. $ALGM

Hsbc Holdings PLC lowered its stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 53.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,355 shares of the company’s stock after selling 21,456 shares during the quarter. Hsbc Holdings PLC’s holdings in Allegro MicroSystems were worth $575,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ALGM. Kestra Advisory Services LLC acquired a new stake in shares of Allegro MicroSystems during the fourth quarter worth $34,000. CIBC Private Wealth Group LLC lifted its stake in Allegro MicroSystems by 14,844.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,345 shares of the company’s stock valued at $35,000 after buying an additional 1,336 shares during the period. Caitong International Asset Management Co. Ltd lifted 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. Farther Finance Advisors LLC boosted its holdings in Allegro MicroSystems by 815.4% during the fourth quarter. Farther Finance Advisors LLC now owns 2,142 shares of the company’s stock worth $57,000 after buying an additional 1,908 shares during the last quarter. Finally, Federation des caisses Desjardins du Quebec bought a new position in Allegro MicroSystems during the fourth quarter worth about $57,000. 56.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, SVP Ian Kent sold 2,642 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $41.56, for a total transaction of $109,801.52. Following the completion of the transaction, the senior vice president directly owned 25,392 shares in the company, valued at approximately $1,055,291.52. This trade represents a 9.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Susan D. Lynch sold 16,711 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $45.46, for a total value of $759,682.06. Following the transaction, the director owned 12,805 shares of the company’s stock, valued at approximately $582,115.30. The trade was a 56.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 68,607 shares of company stock valued at $3,213,714. Corporate insiders own 0.50% of the company’s stock.

Allegro MicroSystems Trading Up 0.1%

Shares of NASDAQ:ALGM opened at $41.50 on Friday. The firm has a market cap of $7.73 billion, a price-to-earnings ratio of 691.78 and a beta of 1.90. Allegro MicroSystems, Inc. has a 12 month low of $22.41 and a 12 month high of $71.77. The company’s fifty day simple moving average is $51.82 and its 200 day simple moving average is $42.58. The company has a quick ratio of 2.21, a current ratio of 3.70 and a debt-to-equity ratio of 0.30.

Allegro MicroSystems (NASDAQ:ALGM) last announced 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 firm had revenue of $259.24 million during the quarter, compared to analyst estimates of $251.44 million. Allegro MicroSystems had a net margin of 1.50% and a return on equity of 8.30%. The company’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.09 EPS. Allegro MicroSystems has set its Q2 2027 guidance at 0.230-0.260 EPS. As a group, research analysts forecast that Allegro MicroSystems, Inc. will post 0.77 EPS for the current fiscal year.

Key Headlines Impacting Allegro MicroSystems

Here are the key news stories impacting Allegro MicroSystems this week:

• Positive Sentiment: Allegro exceeded expectations with earnings of $0.23 per share versus the $0.21 consensus and revenue of $259.24 million versus $251.44 million. Revenue increased 27.5% year over year, while EPS rose substantially from $0.09 a year earlier. Allegro MicroSystems Beats Q1 Earnings and Revenue Estimates
• Positive Sentiment: Management issued second-quarter revenue guidance of $265 million to $275 million, above the $264.5 million consensus, and EPS guidance of $0.23 to $0.26, at or above expectations. Allegro MicroSystems Reports First Quarter 2027 Results
• Positive Sentiment: Record data-center sales, stronger bookings, expanding design wins and increased semiconductor content per system point to sustained AI infrastructure demand. Electrification and automation also provide additional growth opportunities. ALGM Q1 Earnings Call Highlights AI Data Center Growth
• Positive Sentiment: Needham raised its price target from $55 to $57 and maintained a Buy rating, implying substantial potential upside from the referenced $41.50 level.
• Neutral Sentiment: Despite the operating beat, Allegro reported a negative net margin of 1.67%, and the shares remain well below their 52-week high, suggesting investors may be weighing recovery potential against profitability and valuation risks.
• Negative Sentiment: Mizuho cut its price target from $67 to $58, although it retained an Outperform rating. TD Cowen also reduced its target from $66 to $48 while maintaining Buy. These reductions may limit enthusiasm by signaling more cautious assumptions despite the favorable results.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ALGM shares. Needham & Company LLC boosted their target price on Allegro MicroSystems from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday. UBS Group increased their price target on shares of Allegro MicroSystems from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Barclays lowered shares of Allegro MicroSystems from an “overweight” rating to an “equal weight” rating and set a $48.00 price objective on the stock. in a research note on Monday, July 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allegro MicroSystems in a research note on Wednesday, May 6th. Finally, Mizuho cut their target price on shares of Allegro MicroSystems from $67.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday. Nine analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $52.80.

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.