Sanken Electric Co., Ltd.

Sanken Electric (10% owner) sold 10,017,315 shares of ALGM for $232.0M on 2024-08-07; stock now at $22.82, down 45.7% from 52-week high.

Sanken Electric, a 10% owner of Allegro Microsystems, executed a substantial open-market sale of 10,017,315 shares (59.73M shares remaining post-transaction) on 2024-08-07 at $23.16 per share for $232,001,015.40. The timing context is notable: ALGM has declined 28.8% over the past 30 days and 45.7% from its 52-week high of $42.04, and the company is currently unprofitable with net income of $-17,675,000.00 against quarterly revenue of $166,919,000.00. This sale follows another Sanken sell at the same ticker on 2024-07-29, suggesting a deliberate reduction in holdings. The insider's cross-ticker track record shows only 1 prior sell across all tickers, so this concentrated selling activity at ALGM represents a shift in portfolio action for this investor.

Sanken Electric Co., Ltd. divests 28,750,000 shares of ALGM for $665,850,000, reducing stake from 98.5M to 69.75M shares

Sanken Electric, a 10% shareholder of Allegro Microsystems, executed a substantial sale of 28,750,000 shares at $23.16 per share on 2024-07-29, representing a -29.2% reduction in its holdings. The transaction occurred when ALGM is trading at $24.04, down -13.9% over 30 days and -18.8% over 90 days from the trade date, with the stock currently -53.4% from its 52-week high of $51.61. The magnitude of this divestiture—a major institutional shareholder liquidating approximately 29% of its position for $665.8M—warrants investor scrutiny given the depressed price action and the company's valuation metrics (P/E 30.43, market cap $4.7B). At current trading levels, the sold shares would be worth materially less than the transaction proceeds, suggesting this sale executed at a relatively favorable price point amid the stock's recent decline.