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For the fiscal first quarter, revenues are expected in the range of $270-$280 million.
Non-GAAP earnings are anticipated between 35 cents and 39 cents per share.
The Zacks Consensus Estimate for fiscal first-quarter revenues is pegged at $275 million, suggesting a 26.29% growth from the figure reported in the year-ago quarter.
The consensus mark for earnings has been steady at 37 cents per share in the past 30 days, suggesting a 54.17% growth from the figure reported in the year-ago quarter.
Allegro’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 10.12%.
Let’s see how things have shaped up for the upcoming announcement.
Factors Likely to Have Impacted Q1 Performance
Allegro banks on an innovative product portfolio providing differentiated solutions and strong momentum in e-mobility, clean energy and automation segments.
Its performance in the fiscal first quarter is likely to have benefited from higher demand for e-Mobility applications, including xEV and ADAS and magnetic sensor and power IC product portfolios.
The company’s continuous R&D investments on high-growth secular mega trends have been noteworthy. The release of its ASIL C rated high precision field current sensor and power DC-to-DC regulator module is expected to have contributed to its e-mobility, industrial and automotive markets in the to-be-reported quarter.
Allegro is expected to have gained from an increase in internal supply of wafers and die-banks, which improve lead times for customers and reduces past due backlog. This is expected to have been driven by continued improvements in technology and supply chain processes.
However, challenging macroeconomic conditions and raging inflation is expected to have hurt Allegro’s top line in the fiscal first quarter.
What Our Model Says
The Zacks model predicts that the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Allegro has an Earnings ESP of 0.00% and a Zacks Rank #3 at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
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What's in Store for Allegro MicroSystems' (ALGM) Q1 Earnings?
Allegro MicroSystems (ALGM - Free Report) is slated to release first-quarter fiscal 2024 results on Aug 1.
For the fiscal first quarter, revenues are expected in the range of $270-$280 million.
Non-GAAP earnings are anticipated between 35 cents and 39 cents per share.
The Zacks Consensus Estimate for fiscal first-quarter revenues is pegged at $275 million, suggesting a 26.29% growth from the figure reported in the year-ago quarter.
Allegro MicroSystems, Inc. Price and EPS Surprise
Allegro MicroSystems, Inc. price-eps-surprise | Allegro MicroSystems, Inc. Quote
The consensus mark for earnings has been steady at 37 cents per share in the past 30 days, suggesting a 54.17% growth from the figure reported in the year-ago quarter.
Allegro’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 10.12%.
Let’s see how things have shaped up for the upcoming announcement.
Factors Likely to Have Impacted Q1 Performance
Allegro banks on an innovative product portfolio providing differentiated solutions and strong momentum in e-mobility, clean energy and automation segments.
Its performance in the fiscal first quarter is likely to have benefited from higher demand for e-Mobility applications, including xEV and ADAS and magnetic sensor and power IC product portfolios.
The company’s continuous R&D investments on high-growth secular mega trends have been noteworthy. The release of its ASIL C rated high precision field current sensor and power DC-to-DC regulator module is expected to have contributed to its e-mobility, industrial and automotive markets in the to-be-reported quarter.
Allegro is expected to have gained from an increase in internal supply of wafers and die-banks, which improve lead times for customers and reduces past due backlog. This is expected to have been driven by continued improvements in technology and supply chain processes.
However, challenging macroeconomic conditions and raging inflation is expected to have hurt Allegro’s top line in the fiscal first quarter.
What Our Model Says
The Zacks model predicts that the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Allegro has an Earnings ESP of 0.00% and a Zacks Rank #3 at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
onsemi (ON - Free Report) has an Earnings ESP of +1.34% and a Zacks Rank of 2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
onsemi’s shares have returned 59.2% year to date. ON is set to report its second-quarter 2023 results on Jul 31.
Etsy (ETSY - Free Report) has an Earnings ESP of +2.82% and a Zacks Rank of 3.
Etsy’s shares have declined 19.5% year-to-date. ETSY is set to report second-quarter 2023 results on Aug 2.
Perion Network (PERI - Free Report) has an Earnings ESP of +5.14% and is Zacks #2 Ranked.
PERI’s shares have gained 36.4% year-to-date. Perion Network is set to report its second-quarter 2023 results on Aug 2.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.