Allegro MicroSystems Inc. (NASDAQ:ALGM) currently has a daily average trading volume of 1.60M but it saw 1901934 shares traded on Thursday. With a market cap of 7.19B USD, stock’s current market price of $37.61 came rising about 2.90 while comparing to the previous closing price of $36.55. In past 52 weeks, the stock remained buoying in the range of price level as high as $48.72 and as low as $19.20. In the recent trading on the day, stock has struck highest price mark of $38.04 while lowest mark touched by it was $36.60.
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Taking a look at 20-day trading activity of Allegro MicroSystems Inc. (ALGM) gives us an average price of $37.70, while its current price level is -22.80% below from 52-week high level whereas it is 95.86% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $41.82 while that of 200 days or SMA-200 reads an average of $33.25. A closer look into the stock’s movement over the week reveals that its volatility is standing at 3.58% during that period while stretching the period over a month that increases to 4.16%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 42.73 which implies that the stock is in neutral territory.
Allegro MicroSystems Inc. (ALGM)’s stock is currently under the radar of 6 analysts who are in consensus at a 12-month price target range of between $50.00 and $54.00 for company’s shares. The average price target assigned by the average number of analysts to a stock is a way to gauge worth of any stock in next 52 weeks. And in assigning price target to a stock, some analysts adopt a bearish approach by advocating lower-than-average price target which in this case is $50.00 while some adopt bullish approach by assigning higher-than-average price target which reads the price to top $54.00. Average price target assigned by them is $51.33 which highlights an upside potential of 26.73% for the stock over that period. And to attain the median price target of $51.00 assigned by those analysts, stock has to add about 26.25% of value to its current levels.
Data by FactSet Research shows that 6 analysts have issued their ratings for the stock. 0 of them are in opinions that stock is a Sell, while 1 are advising it as an Overweight. 5 analysts suggested the investors to Buy the stock while 0 advised them to Hold. Recommendations by all of those brokerages imply a consensus rating of Buy for the stock and that issued by Wall Street to investors is Moderate Buy.
Over the week, ALGM’s stock price is moving -3.14% down while it is -2.16% when we observe its performance for the past one month. Year-to-date it is 25.28% up and over the past year, the stock is showing an upside performance of 58.49%.
The latest quarterly earnings report issued by the company was for quarter ended 3/30/2023, when its quarterly earnings per share (EPS) of $0.37 beat the consensus estimate of $0.36 for the same. The company is expected to be releasing its next quarterly report in 07/27/2023, for which analysts forecasted an EPS of $0.37 while estimate for next year EPS is $1.44. For ALGM, analysts are forecasting an EPS-growth rate of 12.50% for current year and estimate for EPS growth in next year is 13.20%. In next quarter, company is expected to be making quarterly sales of $269.81 million as analysts are expecting the sales for current fiscal year at $1.09 billion and seeing the company making $1.19 billion in sales next year. Moreover, analysts are in estimates of $275.07 million for current-quarter revenue.
Currently, Allegro MicroSystems Inc.’s total number of outstanding shares is 191.33M with 54.19% of that held by the insiders while 49.46% of its common stock has been owned by the institutions. Company’s return on investment (ROI) stands at 15.20% and return on equity (ROE) at 14.90%. It has a price to earnings ratio (P/E ratio) of 38.89 while having a 23.12 of forward P/E ratio. Stock has a price to book (P/B) ratio of 8.05 while price to sale or P/S ratio amounts to 7.38. Its return on asset (ROA) is 12.30% on average.
As per SEC documents, Fidelity Select Port – Semicondu shunned 2,709,700 of company’s common stock of worth $96.93 million as per recent closing price of the stock. Fidelity Select Port – Semicondu is not the only institutional holder which restructured its stake in Allegro MicroSystems Inc., as ClearBridge Small Cap Growth Fund dumped 2,492,347 shares of worth $89.15 million to bring its holdings to a total of -0.21 million shares. In the most recent quarter, Vanguard Total Stock Market ETF came rising its stake by 0.04% in the company and now holds 2.45 million or 1.28% of the company’s stake having worth of about 87.69 million.
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