Allegro Microsystems Inc’s filing revealed that its SVP, CTO Doogue Michael acquired Company’s shares for reported $0.28 million on Nov 18 ’24. In the deal valued at $19.00 per share,15,000 shares were bought. As a result of this transaction, Doogue Michael now holds 246,086 shares worth roughly $5.24 million.
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Then, Nargolwala Vineet A bought 5,000 shares, generating $99,446 in total proceeds. Upon buying the shares at $19.89, the President and CEO now owns 356,113 shares.
Before that, Sanken Electric Co., Ltd. sold 10,017,315 shares. Allegro Microsystems Inc shares valued at $232,001,015 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 59,732,782 shares, worth roughly $1.27 billion.
Wells Fargo initiated its Allegro Microsystems Inc [ALGM] rating to an Overweight in a research note published on November 22, 2024; the price target was $23. A number of analysts have revised their coverage, including Loop Capital’s analysts, who began to cover the stock in mid November with a ‘”a Buy”‘ rating. Morgan Stanley began covering ALGM with “an Equal-weight” recommendation on November 07, 2024. UBS started covering the stock on September 03, 2024. It rated ALGM as “a Buy”.
Price Performance Review of ALGM
On Friday, Allegro Microsystems Inc [NASDAQ:ALGM] saw its stock jump 2.70% to $21.31. Over the last five days, the stock has gained 11.75%. Allegro Microsystems Inc shares have fallen nearly -29.60% since the year began. Nevertheless, the stocks have fallen -24.49% over the past one year. While a 52-week high of $33.26 was reached on 07/16/24, a 52-week low of $18.59 was recorded on 11/15/24. SMA at 50 days reached $21.49, while 200 days put it at $26.17.
Levels Of Support And Resistance For ALGM Stock
The 24-hour chart illustrates a support level at 20.93, which if violated will result in even more drops to 20.54. On the upside, there is a resistance level at 21.61. A further resistance level may holdings at 21.90. The Relative Strength Index (RSI) on the 14-day chart is 52.92, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.18, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 37.47%. Stochastics %K at 49.27% indicates the stock is a holding.
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 13, 2024 when Jefferies began covering the stock and recommended ‘”a Buy”‘ rating along with a $37 price target.
