Allegro Microsystems Inc’s recent filing unveils that its President and CEO Nargolwala Vineet A acquired Company’s shares for reported $99446.0 on Nov 05 ’24. In the deal valued at $19.89 per share,5,000 shares were bought. As a result of this transaction, Nargolwala Vineet A now holds 356,113 shares worth roughly $6.79 million.
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Then, Sanken Electric Co., Ltd. sold 10,017,315 shares, generating $232,001,015 in total proceeds. Upon selling the shares at $23.16, the 10% Owner now owns 59,732,782 shares.
Before that, Sanken Electric Co., Ltd. sold 28,750,000 shares. Allegro Microsystems Inc shares valued at $665,850,000 were divested by the 10% Owner at a price of $23.16 per share. As a result of the transaction, Sanken Electric Co., Ltd. now holds 69,750,097 shares, worth roughly $1.33 billion.
Loop Capital initiated its Allegro Microsystems Inc [ALGM] rating to a Buy in a research note published on November 12, 2024; the price target was $30. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who began to cover the stock in early November with a ‘”an Equal-weight”‘ rating. UBS began covering ALGM with “Buy” recommendation on September 03, 2024. Jefferies started covering the stock on May 13, 2024. It rated ALGM as “a Buy”.
Price Performance Review of ALGM
On Friday, Allegro Microsystems Inc [NASDAQ:ALGM] saw its stock fall -3.83% to $19.07. Over the last five days, the stock has lost -12.24%. Allegro Microsystems Inc shares have fallen nearly -37.00% since the year began. Nevertheless, the stocks have fallen -33.41% over the past one year. While a 52-week high of $33.26 was reached on 07/16/24, a 52-week low of $19.71 was recorded on 11/15/24. SMA at 50 days reached $21.66, while 200 days put it at $26.41.
Levels Of Support And Resistance For ALGM Stock
The 24-hour chart illustrates a support level at 18.54, which if violated will result in even more drops to 18.02. On the upside, there is a resistance level at 19.64. A further resistance level may holdings at 20.22. The Relative Strength Index (RSI) on the 14-day chart is 36.72, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.44, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 91.34%. Stochastics %K at 6.20% indicates the stock is a buying.
How much short interest is there in Allegro Microsystems Inc?
A steep rise in short interest was recorded in Allegro Microsystems Inc stocks on 2024-10-31, dropping by -0.77 million shares to a total of 12.31 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 13.08 million shares. There was a decline of -6.26%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on May 10, 2024 when TD Cowen resumed its ‘”a Buy”‘ rating for the stock and retained the price target to $32.
