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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 $43.64, marking a -1.58% move from the previous day. This change lagged the S&P 500's 0.01% loss on the day. At the same time, the Dow lost 0.23%, and the tech-heavy Nasdaq gained 0.97%.
Prior to today's trading, shares of the company had lost 4.75% over the past month. This has lagged the Computer and Technology sector's gain of 4.02% and the S&P 500's gain of 6.23% in that time.
Wall Street will be looking for positivity from Allegro MicroSystems, Inc. as it approaches its next earnings report date. The company is expected to report EPS of $0.36, up 71.43% from the prior-year quarter. 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.These recent revisions tend to reflect the evolving nature of short-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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Allegro MicroSystems, Inc. currently has a Forward P/E ratio of 33.98. For comparison, its industry has an average Forward P/E of 19.15, 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 79, which puts it in the top 32% 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
In the latest trading session, Allegro MicroSystems, Inc. (ALGM - Free Report) closed at $43.64, marking a -1.58% move from the previous day. This change lagged the S&P 500's 0.01% loss on the day. At the same time, the Dow lost 0.23%, and the tech-heavy Nasdaq gained 0.97%.
Prior to today's trading, shares of the company had lost 4.75% over the past month. This has lagged the Computer and Technology sector's gain of 4.02% and the S&P 500's gain of 6.23% in that time.
Wall Street will be looking for positivity from Allegro MicroSystems, Inc. as it approaches its next earnings report date. The company is expected to report EPS of $0.36, up 71.43% from the prior-year quarter. 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.These recent revisions tend to reflect the evolving nature of short-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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Allegro MicroSystems, Inc. currently has a Forward P/E ratio of 33.98. For comparison, its industry has an average Forward P/E of 19.15, 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 79, which puts it in the top 32% 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.