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Allegro MicroSystems, Inc. (ALGM) Rises Higher Than Market: Key Facts
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The latest trading session saw Allegro MicroSystems, Inc. (ALGM - Free Report) ending at $28.19, denoting a +0.43% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a gain of 0.22% for the day. On the other hand, the Dow registered a gain of 0.36%, and the technology-centric Nasdaq increased by 0.32%.
Shares of the company witnessed a loss of 9.16% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 3.64% and the S&P 500's gain of 1.61%.
Investors will be eagerly watching for the performance of Allegro MicroSystems, Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 1, 2024. The company is predicted to post an EPS of $0.29, indicating a 17.14% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $255 million, indicating a 2.5% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.36 per share and a revenue of $1.05 billion, representing changes of +6.25% and +11.39%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Allegro MicroSystems, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding 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 #3 (Hold).
In the context of valuation, Allegro MicroSystems, Inc. is at present trading with a Forward P/E ratio of 20.69. This indicates a discount in contrast to its industry's Forward P/E of 28.3.
Also, we should mention that ALGM has a PEG ratio of 2.09. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Electronics - Semiconductors was holding an average PEG ratio of 3.08 at yesterday's closing price.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 156, positioning it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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) Rises Higher Than Market: Key Facts
The latest trading session saw Allegro MicroSystems, Inc. (ALGM - Free Report) ending at $28.19, denoting a +0.43% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a gain of 0.22% for the day. On the other hand, the Dow registered a gain of 0.36%, and the technology-centric Nasdaq increased by 0.32%.
Shares of the company witnessed a loss of 9.16% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 3.64% and the S&P 500's gain of 1.61%.
Investors will be eagerly watching for the performance of Allegro MicroSystems, Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 1, 2024. The company is predicted to post an EPS of $0.29, indicating a 17.14% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $255 million, indicating a 2.5% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.36 per share and a revenue of $1.05 billion, representing changes of +6.25% and +11.39%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Allegro MicroSystems, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding 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 #3 (Hold).
In the context of valuation, Allegro MicroSystems, Inc. is at present trading with a Forward P/E ratio of 20.69. This indicates a discount in contrast to its industry's Forward P/E of 28.3.
Also, we should mention that ALGM has a PEG ratio of 2.09. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Electronics - Semiconductors was holding an average PEG ratio of 3.08 at yesterday's closing price.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 156, positioning it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.