Director Susan Lynch Files Intent to Sell $759K in Allegro MicroSystems Stock
ALGM has more than doubled off its 52-week low of $22.41.
Summary
Director Susan Lynch has filed a Form 144 indicating her intent to sell 16,711 shares of Allegro MicroSystems stock, valued at approximately $759,624.
Key Events · Ownership and Investor Activity · ALGM
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Director Files Intent to Sell
Director Susan D Lynch filed a Form 144 to sell 16,711 shares of common stock.
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Proposed Sale Value
The shares are valued at approximately $759,624.79.
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Insider Distribution Trend
This filing adds to a pattern of insider distribution, with over $2.2 million in net insider sales over the past 90 days.
Analysis · ALGM · Manufacturing
This Form 144 indicates a director's intent to sell a substantial amount of company stock. While the percentage of the company's market cap is small, the nearly $760,000 transaction value is a significant personal divestment for a key insider. This action contributes to a recent trend of insider distribution within the company.
At the time of this filing, ALGM was trading at $44.90 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $8.3B. The 52-week trading range was $22.41 to $51.40. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.