FMR LLC & Abigail Johnson Disclose 5.429% Stake in Allegro MicroSystems
Ticker: ALGM · Form: SC 13G · Filed: Feb 9, 2024 · CIK: 866291
| Field | Detail |
|---|---|
| Company | Allegro Microsystems, Inc. (ALGM) |
| Form Type | SC 13G |
| Filed Date | Feb 9, 2024 |
| Risk Level | low |
| Sentiment | bullish |
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, insider-filing, passive-investment
TL;DR
**FMR LLC just revealed a 5.429% stake in Allegro MicroSystems, signaling institutional confidence.**
AI Summary
FMR LLC, a major investment management firm, and its principal owner, Abigail P. Johnson, have disclosed a 5.429% beneficial ownership stake in Allegro MicroSystems, Inc. (ALGM) as of February 9, 2024. This translates to 10,450,296 shares of common stock. This filing indicates that a significant institutional investor believes in Allegro's future, which could signal confidence to current and prospective shareholders.
Why It Matters
This filing shows a major institutional investor, FMR LLC, and its leader, Abigail P. Johnson, have a significant stake in Allegro MicroSystems, which can be seen as a vote of confidence in the company's prospects.
Risk Assessment
Risk Level: low — This filing indicates a significant institutional investment, generally seen as a positive signal rather than a risk.
Analyst Insight
A smart investor would view this as a positive signal, indicating that a major institutional investor sees value in Allegro MicroSystems. This could warrant further research into Allegro's fundamentals and future prospects.
Key Numbers
- 10,450,296 — Shares Beneficially Owned (Total common stock shares of Allegro MicroSystems owned by FMR LLC and Abigail P. Johnson)
- 5.429% — Percent of Class (Percentage of Allegro MicroSystems' common stock beneficially owned by FMR LLC and Abigail P. Johnson)
- 0000315066-24-001002 — Accession Number (Unique identifier for this specific SEC filing)
- 20240209 — Filed As Of Date (The date this SC 13G filing was officially submitted to the SEC)
Key Players & Entities
- FMR LLC (company) — reporting person and parent holding company
- Abigail P. Johnson (person) — reporting person, principal owner of FMR LLC
- ALLEGRO MICROSYSTEMS, INC. (company) — subject company, issuer of the common stock
- Boston, Massachusetts (company) — location of FMR LLC's principal business office
- Manchester, NH (company) — location of Allegro MicroSystems, Inc.'s principal executive offices
Forward-Looking Statements
- Allegro MicroSystems (ALGM) stock may experience increased investor confidence due to FMR LLC's significant stake. (Allegro MicroSystems, Inc.) — medium confidence, target: short-term
FAQ
Who is the primary entity reporting beneficial ownership in Allegro MicroSystems, Inc. in this filing?
The primary entity reporting beneficial ownership is FMR LLC, a parent holding company, as stated in Item 1 and Item 2(a) of the filing.
What percentage of Allegro MicroSystems, Inc.'s common stock does FMR LLC beneficially own, according to this SC 13G?
FMR LLC beneficially owns 5.429% of Allegro MicroSystems, Inc.'s common stock, as detailed in Item 11 and Item 4(b) of the filing.
How many shares of Allegro MicroSystems, Inc. common stock are beneficially owned by FMR LLC and Abigail P. Johnson?
FMR LLC and Abigail P. Johnson beneficially own 10,450,296 shares of Allegro MicroSystems, Inc. common stock, as reported in Item 7 and Item 4(a) of the filing.
What is the CUSIP number for Allegro MicroSystems, Inc. common stock mentioned in this filing?
The CUSIP number for Allegro MicroSystems, Inc. common stock is 01749D105, as stated in the filing's cover page and Item 2(e).
Under which SEC rule is this Schedule 13G filed?
This Schedule 13G is filed under Rule 13d-1(b), as indicated by the checked box on the cover page and Item 3.
Filing Details
This Form SC 13G (Form SC 13G) was filed with the SEC on February 9, 2024 by Abigail P. Johnson regarding ALLEGRO MICROSYSTEMS, INC. (ALGM).