Allegro Microsystems Inc (NASDAQ: ALGM) is -26.79% lower on its value in year-to-date trading and has touched a low of $19.71 and a high of $33.26 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The ALGM stock was last observed hovering at around $22.01 in the last trading session, with the day’s gains setting it 0.15%.
Currently trading at $22.16, the stock is 3.71% and 0.78% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.22 million and changing 0.68% at the moment leaves the stock -16.74% off its SMA200. ALGM registered -15.29% loss for a year compared to 6-month loss of -19.91%. The firm has a 50-day simple moving average (SMA 50) of $22.027 and a 200-day simple moving average (SMA200) of $26.64625.
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The stock witnessed a 6.49% gain in the last 1 month and extending the period to 3 months gives it a -2.89%, and is 6.33% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.49% over the week and 4.81% over the month.
Allegro Microsystems Inc (ALGM) has around 4593 employees, a market worth around $4.08B and $849.88M in sales. Fwd P/E is 35.89. Profit margin for the company is -2.96%. Distance from 52-week low is 12.43% and -33.37% from its 52-week high. The company has generated returns on investments over the last 12 months (-1.86%).
The EPS is expected to shrink by -81.14% this year
373.0 institutions hold shares in Allegro Microsystems Inc (ALGM), with institutional investors hold 97.64% of the company’s shares. The shares outstanding are 193.16M, and float is at 122.50M with Short Float at 9.55%. Institutions hold 65.13% of the Float.
The top institutional shareholder in the company is FMR LLC with over 19.72 million shares valued at $556.88 million. The investor’s holdings represent 10.2401 of the ALGM Shares outstanding. As of 2024-06-30, the second largest holder is JPMORGAN CHASE & CO with 9.14 million shares valued at $258.09 million to account for 4.7458 of the shares outstanding. The other top investors are VANGUARD GROUP INC which holds 8.68 million shares representing 4.5053 and valued at over $245.01 million, while BLACKROCK INC. holds 3.4453 of the shares totaling 6.63 million with a market value of $187.36 million.
Allegro Microsystems Inc (ALGM) Insider Activity
The most recent transaction is an insider purchase by Nargolwala Vineet A, the company’s President and CEO. SEC filings show that Nargolwala Vineet A bought 5,000 shares of the company’s common stock on Nov 05 ’24 at a price of $19.89 per share for a total of $99446.0. Following the purchase, the insider now owns 0.36 million shares.
Allegro Microsystems Inc disclosed in a document filed with the SEC on Aug 07 ’24 that Sanken Electric Co., Ltd. (10% Owner) sold a total of 10,017,315 shares of the company’s common stock. The trade occurred on Aug 07 ’24 and was made at $23.16 per share for $232.0 million. Following the transaction, the insider now directly holds 59.73 million shares of the ALGM stock.
Still, SEC filings show that on Jul 29 ’24, Sanken Electric Co., Ltd. (10% Owner) disposed off 28,750,000 shares at an average price of $23.16 for $665.85 million. The insider now directly holds 69,750,097 shares of Allegro Microsystems Inc (ALGM).
