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Allegro MicroSystems, Inc. (ALGM) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Allegro MicroSystems, Inc. (ALGM - Free Report) closed at $31.86, marking a +1.17% move from the previous day. This move outpaced the S&P 500's daily gain of 0.02%. At the same time, the Dow lost 0.2%, and the tech-heavy Nasdaq gained 0.22%.
Coming into today, shares of the company had lost 18.53% in the past month. In that same time, the Computer and Technology sector lost 3.18%, while the S&P 500 lost 2.86%.
Wall Street will be looking for positivity from Allegro MicroSystems, Inc. as it approaches its next earnings report date. The company is expected to report EPS of $0.37, up 19.35% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $275 million, up 15.71% from the year-ago period.
ALGM's full-year Zacks Consensus Estimates are calling for earnings of $1.44 per share and revenue of $1.06 billion. These results would represent year-over-year changes of +12.5% and +16.97%, respectively.
Investors should also note any recent changes to analyst estimates for Allegro MicroSystems, Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that Allegro MicroSystems, Inc. has a Forward P/E ratio of 21.87 right now. Its industry sports an average Forward P/E of 25.79, 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 group has a Zacks Industry Rank of 183, putting it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Allegro MicroSystems, Inc. (ALGM) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Allegro MicroSystems, Inc. (ALGM - Free Report) closed at $31.86, marking a +1.17% move from the previous day. This move outpaced the S&P 500's daily gain of 0.02%. At the same time, the Dow lost 0.2%, and the tech-heavy Nasdaq gained 0.22%.
Coming into today, shares of the company had lost 18.53% in the past month. In that same time, the Computer and Technology sector lost 3.18%, while the S&P 500 lost 2.86%.
Wall Street will be looking for positivity from Allegro MicroSystems, Inc. as it approaches its next earnings report date. The company is expected to report EPS of $0.37, up 19.35% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $275 million, up 15.71% from the year-ago period.
ALGM's full-year Zacks Consensus Estimates are calling for earnings of $1.44 per share and revenue of $1.06 billion. These results would represent year-over-year changes of +12.5% and +16.97%, respectively.
Investors should also note any recent changes to analyst estimates for Allegro MicroSystems, Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that Allegro MicroSystems, Inc. has a Forward P/E ratio of 21.87 right now. Its industry sports an average Forward P/E of 25.79, 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 group has a Zacks Industry Rank of 183, putting it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.