Allegro Microsystems Inc (NASDAQ: ALGM) is -26.43% lower on its value in year-to-date trading and has touched a low of $18.59 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 $22.26 in the last trading session, with the day’s gains setting it 0.01%.
Currently trading at $22.27, the stock is 2.64% and 4.57% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.77 million and changing 0.04% at the moment leaves the stock -11.44% off its SMA200. ALGM registered -28.62% loss for a year compared to 6-month loss of -21.00%. The firm has a 50-day simple moving average (SMA 50) of $21.261 and a 200-day simple moving average (SMA200) of $25.18545.
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The stock witnessed a -0.27% gain in the last 1 month and extending the period to 3 months gives it a -7.09%, and is 5.85% 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 3.82% over the week and 4.67% over the month.
Allegro Microsystems Inc (ALGM) has around 4593 employees, a market worth around $4.10B and $849.88M in sales. Fwd P/E is 35.43. Profit margin for the company is -2.96%. Distance from 52-week low is 19.80% and -33.04% 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 -81.03% this year
366.0 institutions hold shares in Allegro Microsystems Inc (ALGM), with institutional investors hold 117.22% of the company’s shares. The shares outstanding are 183.98M, and float is at 122.37M with Short Float at 9.31%. Institutions hold 78.19% 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 4.7239 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 Doogue Michael, the company’s SVP, CTO. SEC filings show that Doogue Michael bought 15,000 shares of the company’s common stock on Nov 18 ’24 at a price of $19.00 per share for a total of $0.28 million. Following the purchase, the insider now owns 0.25 million shares.
Allegro Microsystems Inc disclosed in a document filed with the SEC on Nov 05 ’24 that Nargolwala Vineet A (President and CEO) bought a total of 5,000 shares of the company’s common stock. The trade occurred on Nov 05 ’24 and was made at $19.89 per share for $99446.0. Following the transaction, the insider now directly holds 0.36 million shares of the ALGM stock.
Still, SEC filings show that on Aug 07 ’24, Sanken Electric Co., Ltd. (10% Owner) disposed off 10,017,315 shares at an average price of $23.16 for $232.0 million. The insider now directly holds 59,732,782 shares of Allegro Microsystems Inc (ALGM).
