In a filing, Allegro Microsystems Inc revealed 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 $5.25 million.
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 fall -6.86% to $21.32. Over the last five days, the stock has lost -14.24%. Allegro Microsystems Inc shares have fallen nearly -2.47% since the year began. Nevertheless, the stocks have fallen -17.17% over the past one year. While a 52-week high of $33.26 was reached on 03/06/25, a 52-week low of $18.59 was recorded on 04/04/25. SMA at 50 days reached $25.17, while 200 days put it at $23.95.
Levels Of Support And Resistance For ALGM Stock
The 24-hour chart illustrates a support level at 20.63, which if violated will result in even more drops to 19.93. On the upside, there is a resistance level at 22.13. A further resistance level may holdings at 22.93. The Relative Strength Index (RSI) on the 14-day chart is 32.77, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.39, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 91.95%. Stochastics %K at 23.34% 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 2025-03-14, growing by 1.52 million shares to a total of 15.29 million shares. Yahoo Finance data shows the prior-month short interest on 2025-02-14 was 13.77 million shares. There was a rise of 9.95%, which implies that there is a positive 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.
