Meanwhile, its earnings per share soared 63% year-over-year to 39 cents. The company’s automotive revenue jumped roughly 30% year-over-year. Moreover, 218 institutions bought shares, while only 141 sold them. Among large banks, JPMorgan acquired 190, 595 shares, State Street obtained 186,549 shares, and Morgan Stanley bought 447,634 shares. Last quarter, Allegro’s top line climbed 28% versus the same period a year earlier. Amazon (AMZN)Īllegro Microsystems (NASDAQ: ALGM) develops “power and sensing semiconductors for automotive, industrial and other markets,” according to Investor’s Business Daily. The company is highly leveraged to the rapidly growing automotive and clean energy sectors. In Q2, institutions acquired 9.16 million shares of ALGM stock and sold 8.49 million shares of the name. These new products are likely to cause the growth of the company’s top and bottom lines to meaningfully accelerate over the medium term and the long term, making it one of the best tech stocks to buy. Moreover, according to investment bank Baird, NOW reported record second-quarter financial results in July, and the company is benefiting from strong spending by the federal government. Finally, NOW has introduced multiple, new software offerings which can, at customers’ request, be equipped with generative AI. Fisher Asset Management is owned by the renowned, multi-billionaire investor, Ken Fisher. Even JPMorgan added 56,848 shares. Also increasing its stake in NOW last quarter was Fisher Asset Management, which acquired 63,726 more shares. For example, State Street acquired 158,165 more shares, while Norway’s sovereign wealth fund, Norges Bank acquired 364,020. ![]() Institutional interest in ServiceNow (NYSE: NOW) spiked last quarter.
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