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Allegro MicroSystems, Inc. (ALGM) Gains As Market Dips: What You Should Know
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Allegro MicroSystems, Inc. (ALGM - Free Report) closed at $30.02 in the latest trading session, marking a +0.13% move from the prior day. This move outpaced the S&P 500's daily loss of 0.25%. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq gained 5.91%.
Heading into today, shares of the company had lost 3.76% over the past month, lagging the Computer and Technology sector's loss of 3.63% and the S&P 500's loss of 2.59% in that time.
Investors will be hoping for strength from Allegro MicroSystems, Inc. as it approaches its next earnings release. 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.
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.
Investors might also notice recent changes to analyst estimates for Allegro MicroSystems, Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Allegro MicroSystems, Inc. is currently a Zacks Rank #2 (Buy).
Investors should also note Allegro MicroSystems, Inc.'s current valuation metrics, including its Forward P/E ratio of 25.41. This valuation marks a premium compared to its industry's average Forward P/E of 13.8.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 140, which puts it in the bottom 45% 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) Gains As Market Dips: What You Should Know
Allegro MicroSystems, Inc. (ALGM - Free Report) closed at $30.02 in the latest trading session, marking a +0.13% move from the prior day. This move outpaced the S&P 500's daily loss of 0.25%. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq gained 5.91%.
Heading into today, shares of the company had lost 3.76% over the past month, lagging the Computer and Technology sector's loss of 3.63% and the S&P 500's loss of 2.59% in that time.
Investors will be hoping for strength from Allegro MicroSystems, Inc. as it approaches its next earnings release. 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.
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.
Investors might also notice recent changes to analyst estimates for Allegro MicroSystems, Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Allegro MicroSystems, Inc. is currently a Zacks Rank #2 (Buy).
Investors should also note Allegro MicroSystems, Inc.'s current valuation metrics, including its Forward P/E ratio of 25.41. This valuation marks a premium compared to its industry's average Forward P/E of 13.8.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 140, which puts it in the bottom 45% 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.