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Allegro MicroSystems, Inc. (ALGM) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Allegro MicroSystems, Inc. (ALGM - Free Report) closed at $39.50, marking a -0.15% move from the previous day. This change lagged the S&P 500's 0.62% gain on the day. At the same time, the Dow added 0.5%, and the tech-heavy Nasdaq lost 5.66%.
Heading into today, shares of the company had gained 4.57% over the past month, lagging the Computer and Technology sector's gain of 9.07% and outpacing the S&P 500's gain of 3.44% in that time.
Investors will be hoping for strength from Allegro MicroSystems, Inc. as it approaches its next earnings release. In that report, analysts expect Allegro MicroSystems, Inc. to post earnings of $0.37 per share. This would mark year-over-year growth of 54.17%. Meanwhile, our latest consensus estimate is calling for revenue of $275 million, up 26.29% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.40 per share and revenue of $1.03 billion, which would represent changes of +9.38% and +9.28%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Allegro MicroSystems, Inc.These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 8% higher. Allegro MicroSystems, Inc. is holding a Zacks Rank of #2 (Buy) right now.
Valuation is also important, so investors should note that Allegro MicroSystems, Inc. has a Forward P/E ratio of 28.36 right now. Its industry sports an average Forward P/E of 20.4, so we one might conclude that Allegro MicroSystems, Inc. is trading at a premium comparatively.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 185, putting it in the bottom 27% 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.
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Allegro MicroSystems, Inc. (ALGM) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Allegro MicroSystems, Inc. (ALGM - Free Report) closed at $39.50, marking a -0.15% move from the previous day. This change lagged the S&P 500's 0.62% gain on the day. At the same time, the Dow added 0.5%, and the tech-heavy Nasdaq lost 5.66%.
Heading into today, shares of the company had gained 4.57% over the past month, lagging the Computer and Technology sector's gain of 9.07% and outpacing the S&P 500's gain of 3.44% in that time.
Investors will be hoping for strength from Allegro MicroSystems, Inc. as it approaches its next earnings release. In that report, analysts expect Allegro MicroSystems, Inc. to post earnings of $0.37 per share. This would mark year-over-year growth of 54.17%. Meanwhile, our latest consensus estimate is calling for revenue of $275 million, up 26.29% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.40 per share and revenue of $1.03 billion, which would represent changes of +9.38% and +9.28%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Allegro MicroSystems, Inc.These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 8% higher. Allegro MicroSystems, Inc. is holding a Zacks Rank of #2 (Buy) right now.
Valuation is also important, so investors should note that Allegro MicroSystems, Inc. has a Forward P/E ratio of 28.36 right now. Its industry sports an average Forward P/E of 20.4, so we one might conclude that Allegro MicroSystems, Inc. is trading at a premium comparatively.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 185, putting it in the bottom 27% 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.