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Allegro MicroSystems, Inc. (ALGM) Dips More Than Broader Market: What You Should Know
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The latest trading session saw Allegro MicroSystems, Inc. (ALGM - Free Report) ending at $28.85, denoting a -1.67% adjustment from its last day's close. This change lagged the S&P 500's daily loss of 1.26%. On the other hand, the Dow registered a loss of 0.86%, and the technology-centric Nasdaq decreased by 1.54%.
The company's stock has dropped by 7.56% in the past month, falling short of the Computer and Technology sector's loss of 2.39% and the S&P 500's loss of 3.67%.
The upcoming earnings release of Allegro MicroSystems, Inc. will be of great interest to investors. The company's earnings report is expected on November 2, 2023. 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%. Alongside, our most recent consensus estimate is anticipating revenue of $275 million, indicating a 15.71% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.45 per share and revenue of $1.06 billion, which would represent changes of +13.28% and +11.99%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Allegro MicroSystems, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. At present, Allegro MicroSystems, Inc. boasts a Zacks Rank of #3 (Hold).
In terms of valuation, Allegro MicroSystems, Inc. is currently trading at a Forward P/E ratio of 20.23. This denotes a discount relative to the industry's average Forward P/E of 25.83.
It is also worth noting that ALGM currently has a PEG ratio of 1.31. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As of the close of trade yesterday, the Electronics - Semiconductors industry held an average PEG ratio of 4.16.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 146, placing it within the bottom 43% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Allegro MicroSystems, Inc. (ALGM) Dips More Than Broader Market: What You Should Know
The latest trading session saw Allegro MicroSystems, Inc. (ALGM - Free Report) ending at $28.85, denoting a -1.67% adjustment from its last day's close. This change lagged the S&P 500's daily loss of 1.26%. On the other hand, the Dow registered a loss of 0.86%, and the technology-centric Nasdaq decreased by 1.54%.
The company's stock has dropped by 7.56% in the past month, falling short of the Computer and Technology sector's loss of 2.39% and the S&P 500's loss of 3.67%.
The upcoming earnings release of Allegro MicroSystems, Inc. will be of great interest to investors. The company's earnings report is expected on November 2, 2023. 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%. Alongside, our most recent consensus estimate is anticipating revenue of $275 million, indicating a 15.71% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.45 per share and revenue of $1.06 billion, which would represent changes of +13.28% and +11.99%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Allegro MicroSystems, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. At present, Allegro MicroSystems, Inc. boasts a Zacks Rank of #3 (Hold).
In terms of valuation, Allegro MicroSystems, Inc. is currently trading at a Forward P/E ratio of 20.23. This denotes a discount relative to the industry's average Forward P/E of 25.83.
It is also worth noting that ALGM currently has a PEG ratio of 1.31. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As of the close of trade yesterday, the Electronics - Semiconductors industry held an average PEG ratio of 4.16.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 146, placing it within the bottom 43% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.