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Allegro MicroSystems, Inc. (ALGM) Stock Moves -1.82%: What You Should Know
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Allegro MicroSystems, Inc. (ALGM - Free Report) closed the most recent trading day at $45.36, moving -1.82% from the previous trading session. At the same time, the Dow added 0.29%, and the tech-heavy Nasdaq gained 1.92%.
Heading into today, shares of the company had gained 6.72% over the past month, lagging the Computer and Technology sector's gain of 10.29% and outpacing the S&P 500's gain of 6.51% in that time.
Investors will be hoping for strength from Allegro MicroSystems, Inc. as it approaches its next earnings release. In that report, analysts expect Allegro MicroSystems, Inc. to post earnings of $0.36 per share. This would mark year-over-year growth of 71.43%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $265 million, up 32.31% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Allegro MicroSystems, Inc.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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 has moved 2.46% lower. Allegro MicroSystems, Inc. is currently a Zacks Rank #3 (Hold).
Investors should also note Allegro MicroSystems, Inc.'s current valuation metrics, including its Forward P/E ratio of 35.4. For comparison, its industry has an average Forward P/E of 19.26, which means Allegro MicroSystems, Inc. is trading at a premium to the group.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 75, which puts it in the top 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Allegro MicroSystems, Inc. (ALGM) Stock Moves -1.82%: What You Should Know
Allegro MicroSystems, Inc. (ALGM - Free Report) closed the most recent trading day at $45.36, moving -1.82% from the previous trading session. At the same time, the Dow added 0.29%, and the tech-heavy Nasdaq gained 1.92%.
Heading into today, shares of the company had gained 6.72% over the past month, lagging the Computer and Technology sector's gain of 10.29% and outpacing the S&P 500's gain of 6.51% in that time.
Investors will be hoping for strength from Allegro MicroSystems, Inc. as it approaches its next earnings release. In that report, analysts expect Allegro MicroSystems, Inc. to post earnings of $0.36 per share. This would mark year-over-year growth of 71.43%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $265 million, up 32.31% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Allegro MicroSystems, Inc.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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 has moved 2.46% lower. Allegro MicroSystems, Inc. is currently a Zacks Rank #3 (Hold).
Investors should also note Allegro MicroSystems, Inc.'s current valuation metrics, including its Forward P/E ratio of 35.4. For comparison, its industry has an average Forward P/E of 19.26, which means Allegro MicroSystems, Inc. is trading at a premium to the group.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 75, which puts it in the top 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.