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Allegro MicroSystems, Inc. (ALGM) Dips More Than Broader Markets: What You Should Know
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Allegro MicroSystems, Inc. (ALGM - Free Report) closed the most recent trading day at $32.49, moving -1.58% from the previous trading session. This change lagged the S&P 500's daily loss of 0.61%. At the same time, the Dow lost 0.42%, and the tech-heavy Nasdaq gained 0.17%.
Coming into today, shares of the company had gained 12.78% in the past month. In that same time, the Computer and Technology sector gained 0.89%, while the S&P 500 gained 0.89%.
Wall Street will be looking for positivity from Allegro MicroSystems, Inc. as it approaches its next earnings report date. On that day, Allegro MicroSystems, Inc. is projected to report earnings of $0.32 per share, which would represent year-over-year growth of 68.42%. Our most recent consensus estimate is calling for quarterly revenue of $245.4 million, up 66.75% from the year-ago period.
ALGM's full-year Zacks Consensus Estimates are calling for earnings of $1.18 per share and revenue of $953 million. These results would represent year-over-year changes of +51.28% and +30.69%, respectively.
Any recent changes to analyst estimates for Allegro MicroSystems, Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Allegro MicroSystems, Inc. is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note Allegro MicroSystems, Inc.'s current valuation metrics, including its Forward P/E ratio of 27.98. Its industry sports an average Forward P/E of 15.35, so we one might conclude that Allegro MicroSystems, Inc. is trading at a premium comparatively.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 175, which puts it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
To follow ALGM in the coming trading sessions, be sure to utilize Zacks.com.
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Allegro MicroSystems, Inc. (ALGM) Dips More Than Broader Markets: What You Should Know
Allegro MicroSystems, Inc. (ALGM - Free Report) closed the most recent trading day at $32.49, moving -1.58% from the previous trading session. This change lagged the S&P 500's daily loss of 0.61%. At the same time, the Dow lost 0.42%, and the tech-heavy Nasdaq gained 0.17%.
Coming into today, shares of the company had gained 12.78% in the past month. In that same time, the Computer and Technology sector gained 0.89%, while the S&P 500 gained 0.89%.
Wall Street will be looking for positivity from Allegro MicroSystems, Inc. as it approaches its next earnings report date. On that day, Allegro MicroSystems, Inc. is projected to report earnings of $0.32 per share, which would represent year-over-year growth of 68.42%. Our most recent consensus estimate is calling for quarterly revenue of $245.4 million, up 66.75% from the year-ago period.
ALGM's full-year Zacks Consensus Estimates are calling for earnings of $1.18 per share and revenue of $953 million. These results would represent year-over-year changes of +51.28% and +30.69%, respectively.
Any recent changes to analyst estimates for Allegro MicroSystems, Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Allegro MicroSystems, Inc. is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note Allegro MicroSystems, Inc.'s current valuation metrics, including its Forward P/E ratio of 27.98. Its industry sports an average Forward P/E of 15.35, so we one might conclude that Allegro MicroSystems, Inc. is trading at a premium comparatively.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 175, which puts it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
To follow ALGM in the coming trading sessions, be sure to utilize Zacks.com.