Allegro Microsystems Inc. [ALGM] stock prices are down -4.15% to $23.30 at the moment. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The ALGM shares have gain 5.53% over the last week, with a monthly amount drifted -4.59%, and not seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Allegro Microsystems Inc. [NASDAQ: ALGM] stock has seen the most recent analyst activity on September 03, 2024, when UBS initiated its Buy rating and assigned the stock a price target of $33. Previously, Jefferies started tracking the stock with Buy rating on May 13, 2024, and set its price target to $37. On May 10, 2024, TD Cowen reiterated its Buy rating and revised its price target to $32 on the stock. Evercore ISI started tracking the stock assigning a Outperform rating and suggested a price target of $36 on April 16, 2024. Wolfe Research upgraded its rating to a Outperform but $35 remained the price target by the analyst firm on February 02, 2024. TD Cowen reiterated a Outperform rating for this stock on February 02, 2024, and upped its price target to $35. In a note dated September 29, 2023, BofA Securities initiated an Neutral rating and provided a target price of $36 on this stock.
The stock price of Allegro Microsystems Inc. [ALGM] has been fluctuating between $20.42 and $33.26 over the past year. Currently, Wall Street analysts expect the stock to reach $37 within the next 12 months. Allegro Microsystems Inc. [NASDAQ: ALGM] shares were valued at $23.30 at the most recent close of the market. An investor can expect a potential return of 58.8% based on the average ALGM price forecast.
Analyzing the ALGM fundamentals
The Allegro Microsystems Inc. [NASDAQ:ALGM] reported sales of 937.99M for trailing twelve months, representing a drop of -40.02%. Gross Profit Margin for this corporation currently stands at 0.52% with Operating Profit Margin at 0.15%, Pretax Profit Margin comes in at 0.12%, and Net Profit Margin reading is 0.08%. To continue investigating profitability, this company’s Return on Assets is posted at 0.05, Equity is 0.07 and Total Capital is 0.1. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.19.
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 22.78 points at the first support level, and at 22.27 for the second support level. However, for the 1st resistance point, the stock is sitting at 24.04, and for the 2nd resistance point, it is at 24.78.
Ratios To Look Out For
It’s worth pointing out that Allegro Microsystems Inc. [NASDAQ:ALGM]’s Current Ratio is 4.65. Also, the Quick Ratio is 2.98, while the Cash Ratio stands at 1.75. Considering the valuation of this stock, the price to sales ratio is 4.57, the price to book ratio is 4.07 and price to earnings (TTM) ratio is 61.40.
Transactions by insiders
Recent insider trading involved Sanken Electric Co., Ltd., 10% Owner, that happened on Aug 07 ’24 when 10.02 million shares were sold. 10% Owner, Sanken Electric Co., Ltd. completed a deal on Jul 29 ’24 to sell 28.75 million shares. Meanwhile, Director Lury Richard R. sold 8500.0 shares on May 30 ’24.
