Allegro Microsystems Inc’s recent filing unveils 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 $5.47 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 $1.33 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 1.88% to $22.23. Over the last five days, the stock has gained 4.27%. Allegro Microsystems Inc shares have risen nearly 1.69% since the year began. Nevertheless, the stocks have fallen -17.76% over the past one year. While a 52-week high of $33.26 was reached on 03/06/25, a 52-week low of $18.34 was recorded on 04/08/25. SMA at 50 days reached $24.98, while 200 days put it at $23.79.
Levels Of Support And Resistance For ALGM Stock
The 24-hour chart illustrates a support level at 20.89, which if violated will result in even more drops to 19.55. On the upside, there is a resistance level at 23.06. A further resistance level may holdings at 23.89. The Relative Strength Index (RSI) on the 14-day chart is 43.47, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.36, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 58.75%. Stochastics %K at 43.31% 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 2025-03-31, dropping by -0.79 million shares to a total of 14.41 million shares. Yahoo Finance data shows the prior-month short interest on 2025-02-28 was 15.2 million shares. There was a decline of -5.49%, 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.
