On November 5, 2024, Vineet Nargolwala, President and Chief Executive Officer of Allegro Microsystems Inc (ALGM, Financial), purchased 5,000 shares of the company at a price of $19.89 per share. This transaction was documented in a recent SEC Filing. Following this acquisition, the insider now owns a total of 356,113 shares of Allegro Microsystems Inc.
Allegro Microsystems Inc specializes in designing, developing, and manufacturing sensor integrated circuits and application-specific analog power ICs for motion control and energy-efficient systems. The company's products are used in automotive and industrial applications, contributing to advancements in efficiency and safety.
Over the past year, Vineet Nargolwala has bought a total of 6,000 shares and has not sold any shares. The recent purchase reflects a continued confidence in the company's prospects.
The insider transaction history for Allegro Microsystems Inc shows a total of 2 insider buys and 4 insider sells over the past year. This pattern of transactions provides insights into the insider sentiment at various price levels.
Shares of Allegro Microsystems Inc were trading at $19.89 on the day of the insider's purchase. The company has a market cap of approximately $4.05 billion.
According to the GF Value, the intrinsic value of the stock is estimated at $26.24, suggesting that Allegro Microsystems Inc is modestly undervalued with a price-to-GF-Value ratio of 0.76.
The GF Value is calculated based on historical multiples such as price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, adjusted for the company's past performance and expected future business outcomes.
This recent insider purchase might signal a positive outlook from the insider regarding the company's valuation and future growth prospects.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
