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Allegro MicroSystems, Inc. (ALGM) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Allegro MicroSystems, Inc. (ALGM - Free Report) closed at $32.52, marking a -1.51% move from the previous day. This change lagged the S&P 500's 0.94% loss on the day. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq lost 1.53%.
Coming into today, shares of the company had lost 14.41% in the past month. In that same time, the Computer and Technology sector gained 3.69%, while the S&P 500 gained 1.85%.
Wall Street will be looking for positivity from Allegro MicroSystems, Inc. as it approaches its next earnings report date. In that report, analysts expect Allegro MicroSystems, Inc. to post earnings of $0.37 per share. This would mark year-over-year growth of 19.35%. Our most recent consensus estimate is calling for quarterly revenue of $275 million, up 15.71% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.44 per share and revenue of $1.06 billion, which would represent changes of +12.5% and +16.97%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Allegro MicroSystems, Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Allegro MicroSystems, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Allegro MicroSystems, Inc. has a Forward P/E ratio of 22.93 right now. Its industry sports an average Forward P/E of 26.6, so we one might conclude that Allegro MicroSystems, Inc. is trading at a discount comparatively.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 193, which puts it in the bottom 24% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Allegro MicroSystems, Inc. (ALGM) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Allegro MicroSystems, Inc. (ALGM - Free Report) closed at $32.52, marking a -1.51% move from the previous day. This change lagged the S&P 500's 0.94% loss on the day. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq lost 1.53%.
Coming into today, shares of the company had lost 14.41% in the past month. In that same time, the Computer and Technology sector gained 3.69%, while the S&P 500 gained 1.85%.
Wall Street will be looking for positivity from Allegro MicroSystems, Inc. as it approaches its next earnings report date. In that report, analysts expect Allegro MicroSystems, Inc. to post earnings of $0.37 per share. This would mark year-over-year growth of 19.35%. Our most recent consensus estimate is calling for quarterly revenue of $275 million, up 15.71% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.44 per share and revenue of $1.06 billion, which would represent changes of +12.5% and +16.97%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Allegro MicroSystems, Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Allegro MicroSystems, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Allegro MicroSystems, Inc. has a Forward P/E ratio of 22.93 right now. Its industry sports an average Forward P/E of 26.6, so we one might conclude that Allegro MicroSystems, Inc. is trading at a discount comparatively.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 193, which puts it in the bottom 24% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.