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Allegro MicroSystems, Inc. (ALGM) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Allegro MicroSystems, Inc. (ALGM - Free Report) closed at $29.86, marking a -1.26% move from the previous day. This change lagged the S&P 500's daily loss of 0.41%. Elsewhere, the Dow gained 0.11%, while the tech-heavy Nasdaq lost 6.67%.
Coming into today, shares of the company had gained 0.6% in the past month. In that same time, the Computer and Technology sector lost 6.38%, while the S&P 500 lost 4.4%.
Allegro MicroSystems, Inc. will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.32, up 68.42% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $245.4 million, up 66.75% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.18 per share and revenue of $953 million. These totals would mark changes of +51.28% and +30.69%, respectively, from last year.
Any recent changes to analyst estimates for Allegro MicroSystems, Inc. should also be noted by investors. These revisions help to show the ever-changing nature of 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.
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 remained stagnant. Allegro MicroSystems, Inc. is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, Allegro MicroSystems, Inc. is currently trading at a Forward P/E ratio of 25.63. Its industry sports an average Forward P/E of 13.66, 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 163, which puts it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks 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) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Allegro MicroSystems, Inc. (ALGM - Free Report) closed at $29.86, marking a -1.26% move from the previous day. This change lagged the S&P 500's daily loss of 0.41%. Elsewhere, the Dow gained 0.11%, while the tech-heavy Nasdaq lost 6.67%.
Coming into today, shares of the company had gained 0.6% in the past month. In that same time, the Computer and Technology sector lost 6.38%, while the S&P 500 lost 4.4%.
Allegro MicroSystems, Inc. will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.32, up 68.42% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $245.4 million, up 66.75% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.18 per share and revenue of $953 million. These totals would mark changes of +51.28% and +30.69%, respectively, from last year.
Any recent changes to analyst estimates for Allegro MicroSystems, Inc. should also be noted by investors. These revisions help to show the ever-changing nature of 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.
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 remained stagnant. Allegro MicroSystems, Inc. is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, Allegro MicroSystems, Inc. is currently trading at a Forward P/E ratio of 25.63. Its industry sports an average Forward P/E of 13.66, 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 163, which puts it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks 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.