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Allegro MicroSystems, Inc. (ALGM) Suffers a Larger Drop Than the General Market: Key Insights
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In the latest trading session, Allegro MicroSystems, Inc. (ALGM - Free Report) closed at $26.89, marking a -0.33% move from the previous day. This move lagged the S&P 500's daily loss of 0.07%.
The company's shares have seen a decrease of 7.86% over the last month, not keeping up with the Computer and Technology sector's gain of 2.5% and the S&P 500's gain of 3.98%.
The investment community will be paying close attention to the earnings performance of Allegro MicroSystems, Inc. in its upcoming release. In that report, analysts expect Allegro MicroSystems, Inc. to post earnings of $0.29 per share. This would mark a year-over-year decline of 17.14%.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Allegro MicroSystems, Inc. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.86% upward. Currently, Allegro MicroSystems, Inc. is carrying a Zacks Rank of #3 (Hold).
Looking at its valuation, Allegro MicroSystems, Inc. is holding a Forward P/E ratio of 19.77. This signifies a discount in comparison to the average Forward P/E of 26.94 for its industry.
It's also important to note that ALGM currently trades at a PEG ratio of 1.99. 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 2.99.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 159, placing it within the bottom 37% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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) Suffers a Larger Drop Than the General Market: Key Insights
In the latest trading session, Allegro MicroSystems, Inc. (ALGM - Free Report) closed at $26.89, marking a -0.33% move from the previous day. This move lagged the S&P 500's daily loss of 0.07%.
The company's shares have seen a decrease of 7.86% over the last month, not keeping up with the Computer and Technology sector's gain of 2.5% and the S&P 500's gain of 3.98%.
The investment community will be paying close attention to the earnings performance of Allegro MicroSystems, Inc. in its upcoming release. In that report, analysts expect Allegro MicroSystems, Inc. to post earnings of $0.29 per share. This would mark a year-over-year decline of 17.14%.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Allegro MicroSystems, Inc. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.86% upward. Currently, Allegro MicroSystems, Inc. is carrying a Zacks Rank of #3 (Hold).
Looking at its valuation, Allegro MicroSystems, Inc. is holding a Forward P/E ratio of 19.77. This signifies a discount in comparison to the average Forward P/E of 26.94 for its industry.
It's also important to note that ALGM currently trades at a PEG ratio of 1.99. 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 2.99.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 159, placing it within the bottom 37% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.