At the time of writing, Allegro Microsystems Inc. [ALGM] stock is trading at $27.96, up 4.92%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The ALGM shares have gain 8.88% over the last week, with a monthly amount drifted -10.33%, and not seem to be holding up well over a long-time horizon.
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On 3, April 2024, Allegro MicroSystems Appoints Jennie Raubacher to its Board of Directors. In a post published today on Yahoo Finance, Allegro MicroSystems, Inc. (“Allegro”) (Nasdaq: ALGM) a global leader in power and sensing semiconductor solutions for motion control and energy-efficient systems, today announced the appointment of Jennie Raubacher to Allegro’s Board of Directors (“Board”) as an independent director. Ms. Raubacher’s appointment is effective on April 3, 2024.
From an analyst’s perspective:
Allegro Microsystems Inc. [NASDAQ: ALGM] stock has seen the most recent analyst activity on February 02, 2024, when Wolfe Research upgraded its rating to a Outperform but kept the price target unchanged to $35 for it. Previously, TD Cowen reaffirmed its Outperform rating on February 02, 2024, and elevated its price target to $35. On September 29, 2023, BofA Securities initiated with a Neutral rating and assigned a price target of $36 on the stock. Wolfe Research started tracking the stock assigning a Peer Perform rating. Cowen initiated its recommendation with a Outperform and recommended $30 as its price target on May 25, 2022. In a note dated November 23, 2020, Needham initiated an Buy rating and provided a target price of $27 on this stock.
For the past year, the stock price of Allegro Microsystems Inc. fluctuated between $24.66 and $53.05. Currently, Wall Street analysts expect the stock to reach $39.5 within the next 12 months. Allegro Microsystems Inc. [NASDAQ: ALGM] shares were valued at $27.96 at the most recent close of the market. An investor can expect a potential return of 41.27% based on the average ALGM price forecast.
Analyzing the ALGM fundamentals
According to Allegro Microsystems Inc. [NASDAQ:ALGM], the company’s sales were 1.08B for trailing twelve months, which represents an 2.49% jump. Gross Profit Margin for this corporation currently stands at 0.56% with Operating Profit Margin at 0.23%, Pretax Profit Margin comes in at 0.23%, and Net Profit Margin reading is 0.21%. To continue investigating profitability, this company’s Return on Assets is posted at 0.14, Equity is 0.21 and Total Capital is 0.17. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.24.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 27.33 points at the first support level, and at 26.70 for the second support level. However, for the 1st resistance point, the stock is sitting at 28.28, and for the 2nd resistance point, it is at 28.60.
Allegro Microsystems Inc. [ALGM] reported earnings per share of $0.32 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.29/share, meaning a difference of $0.03 and a surprise factor of 10.30%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.4 per share as compared to estimates of $0.37 per share, a difference of $0.03 representing a surprise of 8.10%.
Ratios To Look Out For
It is important to note that Allegro Microsystems Inc. [NASDAQ:ALGM] has a current ratio of 4.57. Further, the Quick Ratio stands at 3.19, while the Cash Ratio is 1.78. Considering the valuation of this stock, the price to sales ratio is 5.01, the price to book ratio is 4.76 and price to earnings (TTM) ratio is 24.58.
Transactions by insiders
Recent insider trading involved Glover Max R., SVP of Worldwide Sales, that happened on Mar 08 ’24 when 15000.0 shares were sold. President and CEO, Nargolwala Vineet A completed a deal on Nov 17 ’23 to buy 1000.0 shares. Meanwhile, Director Lynch Susan D bought 350.0 shares on Nov 14 ’23.
