In the last trading session, 3.74 million Allegro Microsystems Inc (NASDAQ:ALGM) shares changed hands as the company’s beta touched 1.45. With the company’s per share price at $26.78 changed hands at $0.54 or 2.06% during last session, the market valuation stood at $4.93B. ALGM’s last price was a discount, traded about -24.2% off its 52-week high of $33.26. The share price had its 52-week low at $18.59, which suggests the last value was 30.58% up since then. When we look at Allegro Microsystems Inc’s average trading volume, we note the 10-day average is 5.71 million shares, with the 3-month average coming to 3.08 million.
Analysts gave the Allegro Microsystems Inc (ALGM) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.27. If we narrow down to specifics, the data shows that 0 out of 4 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended ALGM as a Hold, 4 felt it is a Buy and 0 rated the stock as Underweight. Allegro Microsystems Inc’s EPS for the current quarter is expected to be 0.05.
Allegro Microsystems Inc (NASDAQ:ALGM) trade information
Instantly ALGM was in green as seen at the end of in last trading. With action -3.36%, the performance over the past five days has been red. The company’s shares are showing year-to-date upside of 22.51%, with the 5-day performance at -3.36% in the red. However, in the 30-day time frame, Allegro Microsystems Inc (NASDAQ:ALGM) is 9.62% up. Looking at the short shares, we see there were 15.2 million shares sold at short interest cover period of 5.05 days.
The consensus price target for the stock as assigned by Wall Street analysts is 28, meaning bulls need an upside of 4.36% from its current market value. According to analyst projections, ALGM’s forecast low is 26 with 30 as the target high. To hit the forecast high, the stock’s price needs a -12.02% plunge from its current level, while the stock would need to tank 2.91% for it to hit the projected low.
Allegro Microsystems Inc (ALGM) estimates and forecasts
Year-over-year growth is forecast to reach -31.63% down from the last financial year.
Consensus estimates given by 8 financial analysts project the company’s revenue in the current quarter to hit an average of 185.35M. 7 analysts are of the opinion that Allegro Microsystems Inc’s revenue for the current quarter will be 194.31M. The company’s revenue for the corresponding quarters a year ago was 240.58M and 166.92M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -22.96%. The estimates for the next quarter sales put growth at 16.41%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 11.89%. The 2025 estimates are for Allegro Microsystems Inc earnings to decrease by -83.04%, but the outlook for the next 5-year period is at -10.58% per year.
ALGM Dividends
Allegro Microsystems Inc is expected to release its next quarterly earnings report on 2025-Jan-29.
Allegro Microsystems Inc (NASDAQ:ALGM)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 33.30% of Allegro Microsystems Inc shares while 78.03% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 116.98%. There are 78.03% institutions holding the Allegro Microsystems Inc stock share, with FMR LLC the top institutional holder. As of 2024-06-30, the company held 10.1929% of the shares, roughly 19.72 million ALGM shares worth $556.88 million.
JPMORGAN CHASE & CO holds the second largest percentage of outstanding shares, with 4.7239% or 9.14 million shares worth $258.09 million as of 2024-06-30.
Among Mutual Funds, the top two as of Dec 31, 2024 were Fidelity Select Portfolios – Semiconductors Portfolio and Smallcap World Fund . With 8.91 shares estimated at $238.52 million under it, the former controlled 4.84% of total outstanding shares. On the other hand, Smallcap World Fund held about 2.84% of the shares, roughly 5.23 shares worth around $140.15 million.
