Allegro Microsystems Inc (NASDAQ:ALGM) shares traded 5.71% higher at $28.31 on Wall Street last session.
ALGM stock price is now 17.59% away from the 50-day moving average and 16.36% away from the 200-day moving average. The market capitalization of the company currently stands at $5.21B.
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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 $6.97 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 $10.08 million. A total of 33.60% of the company’s stock is owned by insiders.
During the past 12 months, Allegro Microsystems Inc has had a low of $18.59 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 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.
