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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 $33.81 in the latest trading session, marking a -0.41% move from the prior day. This change lagged the S&P 500's daily gain of 0.84%. Elsewhere, the Dow gained 0.96%, while the tech-heavy Nasdaq added 0.81%.
Heading into today, shares of the company had lost 10.85% over the past month, lagging the Computer and Technology sector's gain of 2.69% and the S&P 500's gain of 0.19% in that time.
Allegro MicroSystems, Inc. will be looking to display strength as it nears its next earnings release. On that day, Allegro MicroSystems, Inc. is projected to report earnings of $0.37 per share, which would represent year-over-year growth of 19.35%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $275 million, up 15.71% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.44 per share and revenue of $1.06 billion. These totals would mark changes of +12.5% and +16.97%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Allegro MicroSystems, Inc.These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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 remained stagnant within the past month. Allegro MicroSystems, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Looking at its valuation, Allegro MicroSystems, Inc. is holding a Forward P/E ratio of 23.58. This valuation marks a discount compared to its industry's average Forward P/E of 26.82.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 179, putting it in the bottom 29% 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.
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 $33.81 in the latest trading session, marking a -0.41% move from the prior day. This change lagged the S&P 500's daily gain of 0.84%. Elsewhere, the Dow gained 0.96%, while the tech-heavy Nasdaq added 0.81%.
Heading into today, shares of the company had lost 10.85% over the past month, lagging the Computer and Technology sector's gain of 2.69% and the S&P 500's gain of 0.19% in that time.
Allegro MicroSystems, Inc. will be looking to display strength as it nears its next earnings release. On that day, Allegro MicroSystems, Inc. is projected to report earnings of $0.37 per share, which would represent year-over-year growth of 19.35%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $275 million, up 15.71% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.44 per share and revenue of $1.06 billion. These totals would mark changes of +12.5% and +16.97%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Allegro MicroSystems, Inc.These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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 remained stagnant within the past month. Allegro MicroSystems, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Looking at its valuation, Allegro MicroSystems, Inc. is holding a Forward P/E ratio of 23.58. This valuation marks a discount compared to its industry's average Forward P/E of 26.82.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 179, putting it in the bottom 29% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.