We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Allegro MicroSystems, Inc. (ALGM) Outpaces Stock Market Gains: What You Should Know
Read MoreHide Full Article
Allegro MicroSystems, Inc. (ALGM - Free Report) closed the most recent trading day at $29.90, moving +0.57% from the previous trading session. This change outpaced the S&P 500's 0.1% gain on the day. Meanwhile, the Dow gained 0.28%, and the Nasdaq, a tech-heavy index, lost 0.06%.
Prior to today's trading, shares of the company had gained 1.12% over the past month. This has outpaced the Computer and Technology sector's loss of 5.51% and the S&P 500's loss of 3.6% in that time.
Investors will be hoping for strength from Allegro MicroSystems, Inc. as it approaches its next earnings release. On that day, Allegro MicroSystems, Inc. is projected to report earnings of $0.32 per share, which would represent year-over-year growth of 68.42%. Meanwhile, our latest consensus estimate is calling for revenue of $245.4 million, up 66.75% from the prior-year quarter.
ALGM's full-year Zacks Consensus Estimates are calling for earnings of $1.18 per share and revenue of $953 million. These results would represent year-over-year changes of +51.28% and +30.69%, respectively.
Investors might also notice recent changes to analyst estimates for Allegro MicroSystems, Inc.Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Allegro MicroSystems, Inc. is currently a Zacks Rank #2 (Buy).
Investors should also note Allegro MicroSystems, Inc.'s current valuation metrics, including its Forward P/E ratio of 25.19. This represents a premium compared to its industry's average Forward P/E of 13.66.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 182, putting it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Allegro MicroSystems, Inc. (ALGM) Outpaces Stock Market Gains: What You Should Know
Allegro MicroSystems, Inc. (ALGM - Free Report) closed the most recent trading day at $29.90, moving +0.57% from the previous trading session. This change outpaced the S&P 500's 0.1% gain on the day. Meanwhile, the Dow gained 0.28%, and the Nasdaq, a tech-heavy index, lost 0.06%.
Prior to today's trading, shares of the company had gained 1.12% over the past month. This has outpaced the Computer and Technology sector's loss of 5.51% and the S&P 500's loss of 3.6% in that time.
Investors will be hoping for strength from Allegro MicroSystems, Inc. as it approaches its next earnings release. On that day, Allegro MicroSystems, Inc. is projected to report earnings of $0.32 per share, which would represent year-over-year growth of 68.42%. Meanwhile, our latest consensus estimate is calling for revenue of $245.4 million, up 66.75% from the prior-year quarter.
ALGM's full-year Zacks Consensus Estimates are calling for earnings of $1.18 per share and revenue of $953 million. These results would represent year-over-year changes of +51.28% and +30.69%, respectively.
Investors might also notice recent changes to analyst estimates for Allegro MicroSystems, Inc.Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Allegro MicroSystems, Inc. is currently a Zacks Rank #2 (Buy).
Investors should also note Allegro MicroSystems, Inc.'s current valuation metrics, including its Forward P/E ratio of 25.19. This represents a premium compared to its industry's average Forward P/E of 13.66.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 182, putting it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.