In the last trading session, 1.75 million shares of the Allegro Microsystems Inc (NASDAQ:ALGM) were traded, and its beta was 1.56. Most recently the company’s share price was $27.14, and it changed around -$0.05 or -0.18% from the last close, which brings the market valuation of the company to $5.00B. ALGM currently trades at a discount to its 52-week high of $33.26, offering almost -22.55% off that amount. The share price’s 52-week low was $18.59, which indicates that the current value has risen by an impressive 31.5% since then. We note from Allegro Microsystems Inc’s average daily trading volume that its 10-day average is 2.6 million shares, with the 3-month average coming to 3.06 million.
Allegro Microsystems Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.27. If we narrow it down even further, the data shows that 0 out of 12 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 2 recommended ALGM as a Hold, whereas 8 deemed it a Buy, and 0 rated it as Underweight. Allegro Microsystems Inc is expected to report earnings per share of 0.05 for the current quarter.
Allegro Microsystems Inc (NASDAQ:ALGM) trade information
Instantly ALGM has showed a red trend with a performance of -0.18% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 27.94 on recent trading dayincreased the stock’s daily price by 2.86%. The company’s shares are currently up 24.15% year-to-date, but still up 0.89% over the last five days. On the other hand, Allegro Microsystems Inc (NASDAQ:ALGM) is 8.52% up in the 30-day period. We can see from the shorts that 15.2 million shares have been sold at a short interest cover period of 5.05 day(s).
The consensus price target as assigned by Wall Street analysts is $28, which translates to bulls needing to increase their stock price by 3.07% from its current value. Analyst projections state that ALGM is forecast to be at a low of $26 and a high of $30.
Allegro Microsystems Inc (ALGM) estimates and forecasts
The year-over-year growth rate is expected to be -31.63%, down from the previous year.
Consensus estimates provided by 8 financial analysts predict the company will bring in an average of 185.35M in revenue for the current quarter. 7 analysts expect Allegro Microsystems Inc to make 194.31M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 240.58M and 166.92M respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -22.96%. Forecasts for the next quarter put sales growth at 16.41%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 11.89%. Allegro Microsystems Inc earnings are expected to increase by -83.03% in 2025, but the outlook is negative -10.85% per year for the next five years.
ALGM Dividends
Allegro Microsystems Inc’s next quarterly earnings report is expected to be released on 2025-Jan-29.
Allegro Microsystems Inc (NASDAQ:ALGM)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 33.30% of Allegro Microsystems Inc shares, and 78.07% of them are in the hands of institutional investors. The stock currently has a share float of 117.04%. Allegro Microsystems Inc stock is held by 371.0 institutions, with FMR LLC being the largest institutional investor. By 2024-06-30, it held 10.1929% of the shares, which is about 19.72 million shares worth $556.88 million.
JPMORGAN CHASE & CO, with 4.7239% or 9.14 million shares worth $258.09 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
Semiconductors Portfolio and SMALLCAP WORLD FUND INC were the top two Mutual Funds as of Jan 31, 2025 . The former held 8.91 shares worth $241.73 million, making up 4.84% of all outstanding shares. On the other hand, SMALLCAP WORLD FUND INC held roughly 5.23 shares worth around $142.04 million, which represents about 2.84% of the total shares outstanding.
