Allegro MicroSystems Announces Repurchase Of 39M Shares Held By Sanken Electric
Portfolio Pulse from Benzinga Newsdesk
Allegro MicroSystems has announced the repurchase of 39 million shares held by Sanken Electric. This move is likely to impact the stock price of Allegro MicroSystems in the short term.
July 29, 2024 | 8:11 pm
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Allegro MicroSystems has announced the repurchase of 39 million shares held by Sanken Electric. This repurchase could lead to a short-term increase in the stock price due to the reduction in the number of shares outstanding.
The repurchase of shares typically reduces the number of shares outstanding, which can increase the earnings per share (EPS) and potentially lead to a higher stock price. This move by Allegro MicroSystems is likely to be viewed positively by investors.
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