We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Allegro MicroSystems, Inc. (ALGM) Dips More Than Broader Markets: What You Should Know
Read MoreHide Full Article
Allegro MicroSystems, Inc. (ALGM - Free Report) closed at $44.56 in the latest trading session, marking a -1.48% move from the prior day. This change lagged the S&P 500's daily loss of 0.2%. Elsewhere, the Dow lost 0.38%, while the tech-heavy Nasdaq lost 9.78%.
Heading into today, shares of the company had gained 14.77% over the past month, outpacing the Computer and Technology sector's gain of 4.63% and the S&P 500's gain of 4.16% in that time.
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%. Meanwhile, our latest consensus estimate is calling for revenue of $275 million, up 26.29% from the prior-year quarter.
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 should also note any recent changes to analyst estimates for Allegro MicroSystems, Inc.Recent revisions tend to reflect the latest 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. 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.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Allegro MicroSystems, Inc. is currently a Zacks Rank #1 (Strong Buy).
Looking at its valuation, Allegro MicroSystems, Inc. is holding a Forward P/E ratio of 32.42. This represents a premium compared to its industry's average Forward P/E of 27.43.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 165, putting it in the bottom 35% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Allegro MicroSystems, Inc. (ALGM) Dips More Than Broader Markets: What You Should Know
Allegro MicroSystems, Inc. (ALGM - Free Report) closed at $44.56 in the latest trading session, marking a -1.48% move from the prior day. This change lagged the S&P 500's daily loss of 0.2%. Elsewhere, the Dow lost 0.38%, while the tech-heavy Nasdaq lost 9.78%.
Heading into today, shares of the company had gained 14.77% over the past month, outpacing the Computer and Technology sector's gain of 4.63% and the S&P 500's gain of 4.16% in that time.
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%. Meanwhile, our latest consensus estimate is calling for revenue of $275 million, up 26.29% from the prior-year quarter.
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 should also note any recent changes to analyst estimates for Allegro MicroSystems, Inc.Recent revisions tend to reflect the latest 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. 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.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Allegro MicroSystems, Inc. is currently a Zacks Rank #1 (Strong Buy).
Looking at its valuation, Allegro MicroSystems, Inc. is holding a Forward P/E ratio of 32.42. This represents a premium compared to its industry's average Forward P/E of 27.43.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 165, putting it in the bottom 35% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.