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Allegro MicroSystems, Inc. (ALGM) Stock Drops Despite Market Gains: Important Facts to Note
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In the latest market close, Allegro MicroSystems, Inc. (ALGM - Free Report) reached $30.81, with a -0.84% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 0.43% for the day. Elsewhere, the Dow saw an upswing of 0.19%, while the tech-heavy Nasdaq appreciated by 0.71%.
Heading into today, shares of the company had lost 8.62% over the past month, lagging the Computer and Technology sector's loss of 1.56% and the S&P 500's loss of 2.1% in that time.
The upcoming earnings release of Allegro MicroSystems, Inc. will be of great interest to investors. The company's upcoming EPS is projected at $0.37, signifying a 19.35% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $275 million, up 15.71% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $1.45 per share and a revenue of $1.06 billion, demonstrating changes of +13.28% and +11.99%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Allegro MicroSystems, Inc. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Allegro MicroSystems, Inc. currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Allegro MicroSystems, Inc. is currently trading at a Forward P/E ratio of 21.43. This denotes a discount relative to the industry's average Forward P/E of 28.
We can additionally observe that ALGM currently boasts a PEG ratio of 0.82. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Electronics - Semiconductors industry held an average PEG ratio of 4.19.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 108, which puts it in the top 43% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Allegro MicroSystems, Inc. (ALGM) Stock Drops Despite Market Gains: Important Facts to Note
In the latest market close, Allegro MicroSystems, Inc. (ALGM - Free Report) reached $30.81, with a -0.84% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 0.43% for the day. Elsewhere, the Dow saw an upswing of 0.19%, while the tech-heavy Nasdaq appreciated by 0.71%.
Heading into today, shares of the company had lost 8.62% over the past month, lagging the Computer and Technology sector's loss of 1.56% and the S&P 500's loss of 2.1% in that time.
The upcoming earnings release of Allegro MicroSystems, Inc. will be of great interest to investors. The company's upcoming EPS is projected at $0.37, signifying a 19.35% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $275 million, up 15.71% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $1.45 per share and a revenue of $1.06 billion, demonstrating changes of +13.28% and +11.99%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Allegro MicroSystems, Inc. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Allegro MicroSystems, Inc. currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Allegro MicroSystems, Inc. is currently trading at a Forward P/E ratio of 21.43. This denotes a discount relative to the industry's average Forward P/E of 28.
We can additionally observe that ALGM currently boasts a PEG ratio of 0.82. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Electronics - Semiconductors industry held an average PEG ratio of 4.19.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 108, which puts it in the top 43% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.