In Wednesday’s Wall Street session, Allegro Microsystems Inc (NASDAQ:ALGM) shares traded at $18.93, down -4.78% from the previous session.
ALGM stock price is now -23.61% away from the 50-day moving average and -20.02% away from the 200-day moving average. The market capitalization of the company currently stands at $3.49B.
With the price target of $23, Wells Fargo recently initiated with Overweight rating for Allegro Microsystems Inc (NASDAQ: ALGM). On November 12, 2024, Loop Capital recently initiated its ‘Buy’ rating on the stock quoting a target price of $30, while ‘Morgan Stanley’ rates the stock as ‘Equal-Weight’
In other news, Doogue Michael, SVP, CTO bought 15,000 shares of the company’s stock on Nov 18 ’24. The stock was bought for $285,000 at an average price of $19.00. Upon completion of the transaction, the SVP, CTO now directly owns 246,086 shares in the company, valued at $4.66 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 05 ’24, President and CEO Nargolwala Vineet A bought 5,000 shares of the business’s stock. A total of $99,446 was incurred on buying the stock at an average price of $19.89. This leaves the insider owning 356,113 shares of the company worth $6.74 million. A total of 33.58% of the company’s stock is owned by insiders.
During the past 12 months, Allegro Microsystems Inc has had a low of $18.34 and a high of $33.26. As of last week, the company has a debt-to-equity ratio of 0.43, a current ratio of 4.91, and a quick ratio of 3.00. The fifty day moving average price for ALGM is $24.7814 and a two-hundred day moving average price translates $23.66905 for the stock.
The latest earnings results from Allegro Microsystems Inc (NASDAQ: ALGM) was released for 2024-12-27. The net profit margin was -8.45% and return on equity was -6.32% for ALGM. The company reported revenue of $177.87 million for the quarter, compared to $254.98 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -30.24 percent.
