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Allegro MicroSystems, Inc. (ALGM) Dips More Than Broader Market: What You Should Know
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Allegro MicroSystems, Inc. (ALGM - Free Report) ended the recent trading session at $30.27, demonstrating a -1.85% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 0.28%. On the other hand, the Dow registered a loss of 0.06%, and the technology-centric Nasdaq decreased by 0.56%.
Heading into today, shares of the company had gained 13.3% over the past month, outpacing the Computer and Technology sector's gain of 4.68% and the S&P 500's gain of 5.24% in that time.
The investment community will be closely monitoring the performance of Allegro MicroSystems, Inc. in its forthcoming earnings report. The company is expected to report EPS of $0.29, down 17.14% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $255 million, indicating a 2.5% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.36 per share and revenue of $1.05 billion, indicating changes of +6.25% and +11.38%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Allegro MicroSystems, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Currently, Allegro MicroSystems, Inc. is carrying a Zacks Rank of #4 (Sell).
Looking at valuation, Allegro MicroSystems, Inc. is presently trading at a Forward P/E ratio of 22.73. This signifies a discount in comparison to the average Forward P/E of 28.92 for its industry.
One should further note that ALGM currently holds a PEG ratio of 2.29. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. By the end of yesterday's trading, the Electronics - Semiconductors industry had an average PEG ratio of 4.29.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 201, finds itself in the bottom 21% echelons of all 250+ industries.
The Zacks Industry Rank is ordered 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Allegro MicroSystems, Inc. (ALGM) Dips More Than Broader Market: What You Should Know
Allegro MicroSystems, Inc. (ALGM - Free Report) ended the recent trading session at $30.27, demonstrating a -1.85% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 0.28%. On the other hand, the Dow registered a loss of 0.06%, and the technology-centric Nasdaq decreased by 0.56%.
Heading into today, shares of the company had gained 13.3% over the past month, outpacing the Computer and Technology sector's gain of 4.68% and the S&P 500's gain of 5.24% in that time.
The investment community will be closely monitoring the performance of Allegro MicroSystems, Inc. in its forthcoming earnings report. The company is expected to report EPS of $0.29, down 17.14% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $255 million, indicating a 2.5% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.36 per share and revenue of $1.05 billion, indicating changes of +6.25% and +11.38%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Allegro MicroSystems, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Currently, Allegro MicroSystems, Inc. is carrying a Zacks Rank of #4 (Sell).
Looking at valuation, Allegro MicroSystems, Inc. is presently trading at a Forward P/E ratio of 22.73. This signifies a discount in comparison to the average Forward P/E of 28.92 for its industry.
One should further note that ALGM currently holds a PEG ratio of 2.29. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. By the end of yesterday's trading, the Electronics - Semiconductors industry had an average PEG ratio of 4.29.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 201, finds itself in the bottom 21% echelons of all 250+ industries.
The Zacks Industry Rank is ordered 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.