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Allegro MicroSystems, Inc. (ALGM) Gains But Lags Market: What You Should Know
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Allegro MicroSystems, Inc. (ALGM - Free Report) closed the most recent trading day at $35.77, moving +0.59% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.83%. Elsewhere, the Dow gained 0.8%, while the tech-heavy Nasdaq added 4.46%.
Coming into today, shares of the company had lost 24.95% in the past month. In that same time, the Computer and Technology sector gained 2.72%, while the S&P 500 gained 4.04%.
Wall Street will be looking for positivity from Allegro MicroSystems, Inc. as it approaches its next earnings report date. This is expected to be May 10, 2023. 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, our latest consensus estimate is calling for revenue of $265 million, up 32.31% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Allegro MicroSystems, Inc.These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection remained stagnant. Allegro MicroSystems, Inc. is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Allegro MicroSystems, Inc. is currently trading at a Forward P/E ratio of 27.25. For comparison, its industry has an average Forward P/E of 19.54, 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 93, which puts it in the top 37% 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) Gains But Lags Market: What You Should Know
Allegro MicroSystems, Inc. (ALGM - Free Report) closed the most recent trading day at $35.77, moving +0.59% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.83%. Elsewhere, the Dow gained 0.8%, while the tech-heavy Nasdaq added 4.46%.
Coming into today, shares of the company had lost 24.95% in the past month. In that same time, the Computer and Technology sector gained 2.72%, while the S&P 500 gained 4.04%.
Wall Street will be looking for positivity from Allegro MicroSystems, Inc. as it approaches its next earnings report date. This is expected to be May 10, 2023. 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, our latest consensus estimate is calling for revenue of $265 million, up 32.31% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Allegro MicroSystems, Inc.These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection remained stagnant. Allegro MicroSystems, Inc. is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Allegro MicroSystems, Inc. is currently trading at a Forward P/E ratio of 27.25. For comparison, its industry has an average Forward P/E of 19.54, 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 93, which puts it in the top 37% 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.