Allegro Microsystems Inc (NASDAQ: ALGM) is 28.11% higher on its value in year-to-date trading and has touched a low of $16.38 and a high of $33.26 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The ALGM stock was last observed hovering at around $26.78 in the last trading session, with the day’s gains setting it 1.22%.
Currently trading at $28.00, the stock is 9.70% and 22.30% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.09 million and changing 4.57% at the moment leaves the stock 21.71% off its SMA200. ALGM registered -7.08% loss for a year compared to 6-month loss of 28.88%. The firm has a 50-day simple moving average (SMA 50) of $22.8979 and a 200-day simple moving average (SMA200) of $23.009325.
The stock witnessed a 46.24% gain in the last 1 month and extending the period to 3 months gives it a 4.57%, and is 7.84% 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 2.66% over the week and 4.16% over the month.
Allegro Microsystems Inc (ALGM) has around 4060 employees, a market worth around $5.18B and $725.01M in sales. Fwd P/E is 29.91. Profit margin for the company is -10.07%. Distance from 52-week low is 70.97% and -15.80% from its 52-week high. The company has generated returns on investments over the last 12 months (-5.65%).
The EPS is expected to grow by 114.47% this year
409.0 institutions hold shares in Allegro Microsystems Inc (ALGM), with institutional investors hold 129.06% of the company’s shares. The shares outstanding are 184.29M, and float is at 122.50M with Short Float at 12.30%. Institutions hold 86.04% of the Float.
The top institutional shareholder in the company is FMR LLC with over 19.72 million shares valued at $$556.88 million. The investor’s holdings represent 10.1929 of the ALGM Shares outstanding. As of 2024-06-30, the second largest holder is JPMORGAN CHASE & CO with 9.14 million shares valued at $$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 4.4845 and valued at over $$245.01 million, while BLACKROCK INC. holds 3.4294 of the shares totaling 6.63 million with a market value of $$187.36 million.
Allegro Microsystems Inc (ALGM) Insider Activity
Allegro Microsystems Inc disclosed in a document filed with the SEC on Nov 18 ’24 that Doogue Michael (SVP, CTO) bought a total of 15,000 shares of the company’s common stock. The trade occurred on Nov 18 ’24 and was made at $19.00 per share for $0.28 million. Following the transaction, the insider now directly holds 0.25 million shares of the ALGM stock.
Still, SEC filings show that on Nov 05 ’24, Nargolwala Vineet A (President and CEO) acquired 5,000 shares at an average price of $19.89 for $99446.0. The insider now directly holds 356,113 shares of Allegro Microsystems Inc (ALGM).
