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) Stock Sinks As Market Gains: What You Should Know
Read MoreHide Full Article
In the latest trading session, Allegro MicroSystems, Inc. (ALGM - Free Report) closed at $26.81, marking a -1.33% move from the previous day. This move lagged the S&P 500's daily gain of 0.18%. At the same time, the Dow added 0.07%, and the tech-heavy Nasdaq gained 0.1%.
The the stock of company has risen by 1.02% in the past month, lagging the Computer and Technology sector's gain of 1.84% and the S&P 500's gain of 2.75%.
The investment community will be paying close attention to the earnings performance of Allegro MicroSystems, Inc. in its upcoming release. On that day, Allegro MicroSystems, Inc. is projected to report earnings of $0.29 per share, which would represent a year-over-year decline of 17.14%. At the same time, our most recent consensus estimate is projecting a revenue of $255 million, reflecting a 2.5% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.36 per share and revenue of $1.05 billion, indicating changes of +6.25% and +11.38%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Allegro MicroSystems, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Allegro MicroSystems, Inc. is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Allegro MicroSystems, Inc.'s current valuation metrics, including its Forward P/E ratio of 20.02. This signifies a discount in comparison to the average Forward P/E of 27.25 for its industry.
It is also worth noting that ALGM currently has a PEG ratio of 2.02. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Electronics - Semiconductors industry currently had an average PEG ratio of 2.85 as of yesterday's close.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 192, which puts it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Allegro MicroSystems, Inc. (ALGM) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Allegro MicroSystems, Inc. (ALGM - Free Report) closed at $26.81, marking a -1.33% move from the previous day. This move lagged the S&P 500's daily gain of 0.18%. At the same time, the Dow added 0.07%, and the tech-heavy Nasdaq gained 0.1%.
The the stock of company has risen by 1.02% in the past month, lagging the Computer and Technology sector's gain of 1.84% and the S&P 500's gain of 2.75%.
The investment community will be paying close attention to the earnings performance of Allegro MicroSystems, Inc. in its upcoming release. On that day, Allegro MicroSystems, Inc. is projected to report earnings of $0.29 per share, which would represent a year-over-year decline of 17.14%. At the same time, our most recent consensus estimate is projecting a revenue of $255 million, reflecting a 2.5% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.36 per share and revenue of $1.05 billion, indicating changes of +6.25% and +11.38%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Allegro MicroSystems, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Allegro MicroSystems, Inc. is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Allegro MicroSystems, Inc.'s current valuation metrics, including its Forward P/E ratio of 20.02. This signifies a discount in comparison to the average Forward P/E of 27.25 for its industry.
It is also worth noting that ALGM currently has a PEG ratio of 2.02. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Electronics - Semiconductors industry currently had an average PEG ratio of 2.85 as of yesterday's close.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 192, which puts it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.