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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 $34.80 in the latest trading session, marking a -0.77% move from the prior day. This change lagged the S&P 500's daily gain of 0.14%. Meanwhile, the Dow gained 0.22%, and the Nasdaq, a tech-heavy index, added 0.09%.
Heading into today, shares of the company had lost 12.72% over the past month, lagging the Computer and Technology sector's gain of 0.07% and the S&P 500's loss of 1.27% 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 19.35%. Our most recent consensus estimate is calling for quarterly revenue of $275 million, up 15.71% from the year-ago period.
ALGM's full-year Zacks Consensus Estimates are calling for earnings of $1.44 per share and revenue of $1.06 billion. These results would represent year-over-year changes of +12.5% and +11.99%, respectively.
Any recent changes to analyst estimates for Allegro MicroSystems, Inc. should also be noted by investors. 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Allegro MicroSystems, Inc. is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that Allegro MicroSystems, Inc. has a Forward P/E ratio of 24.35 right now. For comparison, its industry has an average Forward P/E of 27.11, which means Allegro MicroSystems, Inc. is trading at a discount to the group.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 173, putting it in the bottom 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.
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 Sinks As Market Gains: What You Should Know
Allegro MicroSystems, Inc. (ALGM - Free Report) closed at $34.80 in the latest trading session, marking a -0.77% move from the prior day. This change lagged the S&P 500's daily gain of 0.14%. Meanwhile, the Dow gained 0.22%, and the Nasdaq, a tech-heavy index, added 0.09%.
Heading into today, shares of the company had lost 12.72% over the past month, lagging the Computer and Technology sector's gain of 0.07% and the S&P 500's loss of 1.27% 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 19.35%. Our most recent consensus estimate is calling for quarterly revenue of $275 million, up 15.71% from the year-ago period.
ALGM's full-year Zacks Consensus Estimates are calling for earnings of $1.44 per share and revenue of $1.06 billion. These results would represent year-over-year changes of +12.5% and +11.99%, respectively.
Any recent changes to analyst estimates for Allegro MicroSystems, Inc. should also be noted by investors. 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Allegro MicroSystems, Inc. is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that Allegro MicroSystems, Inc. has a Forward P/E ratio of 24.35 right now. For comparison, its industry has an average Forward P/E of 27.11, which means Allegro MicroSystems, Inc. is trading at a discount to the group.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 173, putting it in the bottom 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.