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Allegro MicroSystems, Inc. (ALGM) Stock Sinks As Market Gains: What You Should Know
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Allegro MicroSystems, Inc. (ALGM - Free Report) closed at $40.64 in the latest trading session, marking a -0.29% move from the prior day. This change lagged the S&P 500's daily gain of 0.08%. At the same time, the Dow lost 0.68%, and the tech-heavy Nasdaq lost 0.61%.
Coming into today, shares of the company had gained 6.87% in the past month. In that same time, the Computer and Technology sector gained 11.52%, while the S&P 500 gained 6.1%.
Wall Street will be looking for positivity from Allegro MicroSystems, Inc. as it approaches its next earnings report date. In that report, analysts expect Allegro MicroSystems, Inc. to post earnings of $0.37 per share. This would mark year-over-year growth of 54.17%. Our most recent consensus estimate is calling for quarterly revenue of $275 million, up 26.29% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.40 per share and revenue of $1.03 billion, which would represent changes of +9.38% and +9.28%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Allegro MicroSystems, Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. The Zacks Consensus EPS estimate has moved 3.4% higher within the past month. Allegro MicroSystems, Inc. currently has a Zacks Rank of #2 (Buy).
Digging into valuation, Allegro MicroSystems, Inc. currently has a Forward P/E ratio of 29.22. This valuation marks a premium compared to its industry's average Forward P/E of 24.23.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 196, putting it in the bottom 23% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Allegro MicroSystems, Inc. (ALGM) Stock Sinks As Market Gains: What You Should Know
Allegro MicroSystems, Inc. (ALGM - Free Report) closed at $40.64 in the latest trading session, marking a -0.29% move from the prior day. This change lagged the S&P 500's daily gain of 0.08%. At the same time, the Dow lost 0.68%, and the tech-heavy Nasdaq lost 0.61%.
Coming into today, shares of the company had gained 6.87% in the past month. In that same time, the Computer and Technology sector gained 11.52%, while the S&P 500 gained 6.1%.
Wall Street will be looking for positivity from Allegro MicroSystems, Inc. as it approaches its next earnings report date. In that report, analysts expect Allegro MicroSystems, Inc. to post earnings of $0.37 per share. This would mark year-over-year growth of 54.17%. Our most recent consensus estimate is calling for quarterly revenue of $275 million, up 26.29% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.40 per share and revenue of $1.03 billion, which would represent changes of +9.38% and +9.28%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Allegro MicroSystems, Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. The Zacks Consensus EPS estimate has moved 3.4% higher within the past month. Allegro MicroSystems, Inc. currently has a Zacks Rank of #2 (Buy).
Digging into valuation, Allegro MicroSystems, Inc. currently has a Forward P/E ratio of 29.22. This valuation marks a premium compared to its industry's average Forward P/E of 24.23.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 196, putting it in the bottom 23% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.