Vineet A Nargolwala, the President and CEO of Allegro MicroSystems ($ALGM), bought 200 shares of the company on 11-05-2024. We received data on the trade from a recent SEC filing. This increased their holdings by approximately 0.1%. Following this trade, they now own 356,113 shares of Allegro MicroSystems stock.
Allegro MicroSystems Insider Trading Activity
Allegro MicroSystems insiders have traded $ALGM stock on the open market 5 times in the past 6 months. Of those trades, 2 have been purchases and 3 have been sales.
Here’s a breakdown of recent trading of $ALGM stock by insiders over the last 6 months:
- VINEET A NARGOLWALA (President and CEO) has traded it 2 times. They made 2 purchases, buying 5,000 shares and 0 sales.
- ELECTRIC CO., LTD. SANKEN has traded it 2 times. They made 0 purchases and 2 sales, selling 38,767,315 shares.
- RICHARD R. LURY sold 8,500 shares.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
Allegro MicroSystems Hedge Fund Activity
We have seen 135 institutional investors add shares of Allegro MicroSystems stock to their portfolio, and 159 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- OEP CAPITAL ADVISORS, L.P. removed 4,264,246 shares (-99.2%) from their portfolio in Q2 2024
- JPMORGAN CHASE & CO added 3,484,890 shares (+61.6%) to their portfolio in Q2 2024
- FMR LLC added 2,176,948 shares (+12.4%) to their portfolio in Q2 2024
- ALLSPRING GLOBAL INVESTMENTS HOLDINGS, LLC removed 2,130,219 shares (-98.9%) from their portfolio in Q3 2024
- INVESCO LTD. added 1,837,972 shares (+45.0%) to their portfolio in Q2 2024
- AMERIPRISE FINANCIAL INC added 1,704,622 shares (+434.7%) to their portfolio in Q2 2024
- WOODLINE PARTNERS LP added 1,443,770 shares (+inf%) to their portfolio in Q2 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Allegro MicroSystems Congressional Stock Trading
Members of Congress have traded $ALGM stock 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.
Here’s a breakdown of recent trading of $ALGM stock by members of Congress over the last 6 months:
- REPRESENTATIVE JOSH GOTTHEIMER sold up to $15,000 on 09/16.
To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.
Should I Buy $ALGM Stock?
The bull case for Allegro Microsystems ($ALGM) is founded on its impressive financial performance, marked by a 13% quarter-over-quarter and 60% year-over-year revenue increase, largely fueled by a resurgence in Greater China bookings. The company anticipates continued growth in the low to mid-double digits percentage range into Q2 FY25, bolstered by stable automotive production and a burgeoning electric vehicle market. Furthermore, Allegro's shift to an asset-light model is expected to enhance margins and solidify its financial robustness. Conversely, the bear case highlights significant hurdles the company faces, notably a 25% decline in industrial revenue, primarily due to struggles in the Data Center and Solar sectors that counterbalance gains in other areas. Allegro is projected to see a stark 31.4% revenue drop in Q1 FY25, with a 25% peak-to-trough decline across its business segments. Additionally, decreasing gross margins from pricing pressures and underutilization have led to a marked EPS miss and lowered revenue guidance, raising concerns about the company's overall financial outlook.
Background on $ALGM Stock
Allegro MicroSystems, Inc. ($ALGM) is a leading company specializing in the design and manufacture of advanced semiconductor solutions, primarily focusing on sensor and power management technologies. The company develops innovative products, including Hall-effect sensors, which are pivotal in various applications such as automotive, industrial, and consumer electronics. Allegro's offerings cater to the growing demand for efficient energy management and safety features in electric vehicles and automation systems. With a commitment to sustainability and performance, Allegro leverages its expertise to provide high-quality solutions that enhance functionality and reliability in modern electronic devices, supporting the transition to greener technologies.
This article is not financial advice. See Quiver Quantitative's disclaimers for more information.
