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Allegro MicroSystems (ALGM) Moves 9.3% Higher: Will This Strength Last?
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Allegro MicroSystems, Inc. (ALGM - Free Report) shares ended the last trading session 9.3% higher at $59. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 21.8% gain over the past four weeks.
The optimism surrounding the stock can be attributed to strong growth in Allegro MicroSystems’ automotive business. The company is benefiting from rising adoption of its sensing and power solutions in electric vehicles, ADAS applications, high-voltage traction inverters, steering and braking systems, which drove 30% growth in its Focus Auto business in fiscal 2026. Further, strong design win momentum in China ADAS applications and increasing dollar content per vehicle are supporting investor confidence in the company’s long-term growth outlook.
This company is expected to post quarterly earnings of $0.21 per share in its upcoming report, which represents a year-over-year change of +133.3%. Revenues are expected to be $252.99 million, up 24.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Allegro MicroSystems, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ALGM going forward to see if this recent jump can turn into more strength down the road.
Allegro MicroSystems belongs to the Zacks Electronics - Semiconductors industry. Another stock from the same industry, FormFactor (FORM - Free Report) , closed the last trading session 6.9% higher at $149.55. Over the past month, FORM has returned 11.7%.
FormFactor's consensus EPS estimate for the upcoming report has changed +12.8% over the past month to $0.61. Compared to the company's year-ago EPS, this represents a change of +125.9%. FormFactor currently boasts a Zacks Rank of #1 (Strong Buy).
View the Zacks #1 Rank List
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Allegro MicroSystems (ALGM) Moves 9.3% Higher: Will This Strength Last?
Allegro MicroSystems, Inc. (ALGM - Free Report) shares ended the last trading session 9.3% higher at $59. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 21.8% gain over the past four weeks.
The optimism surrounding the stock can be attributed to strong growth in Allegro MicroSystems’ automotive business. The company is benefiting from rising adoption of its sensing and power solutions in electric vehicles, ADAS applications, high-voltage traction inverters, steering and braking systems, which drove 30% growth in its Focus Auto business in fiscal 2026. Further, strong design win momentum in China ADAS applications and increasing dollar content per vehicle are supporting investor confidence in the company’s long-term growth outlook.
This company is expected to post quarterly earnings of $0.21 per share in its upcoming report, which represents a year-over-year change of +133.3%. Revenues are expected to be $252.99 million, up 24.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Allegro MicroSystems, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ALGM going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Allegro MicroSystems belongs to the Zacks Electronics - Semiconductors industry. Another stock from the same industry, FormFactor (FORM - Free Report) , closed the last trading session 6.9% higher at $149.55. Over the past month, FORM has returned 11.7%.
FormFactor's consensus EPS estimate for the upcoming report has changed +12.8% over the past month to $0.61. Compared to the company's year-ago EPS, this represents a change of +125.9%. FormFactor currently boasts a Zacks Rank of #1 (Strong Buy).