Allegro Microsystems Inc (NASDAQ:ALGM) has a beta value of 1.64 and has seen 6.53 million shares traded in the last trading session. The company, currently valued at $3.04B, closed the last trade at $16.53 per share which meant it lost -$1.53 on the day or -8.47% during that session. The ALGM stock price is -101.21% off its 52-week high price of $33.26 and -7.56% below the 52-week low of $17.78. If we look at the company’s 10-day average daily trading volume, we find that it stood at 4.63 million shares traded. The 3-month trading volume is 3.56 million shares.
The consensus among analysts is that Allegro Microsystems Inc (ALGM) is Buy stock at the moment, with a recommendation rating of 1.09. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 0 out of 4 have rated it as a Hold, with 4 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is 0.05.
Allegro Microsystems Inc (NASDAQ:ALGM) trade information
Sporting -8.47% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on recent trading when the ALGM stock price touched $16.53 or saw a rise of 28.1%. Year-to-date, Allegro Microsystems Inc shares have moved -24.38%, while the 5-day performance has seen it change -25.64%. Over the past 30 days, the shares of Allegro Microsystems Inc (NASDAQ:ALGM) have changed -38.41%. Short interest in the company has seen 14.41 million shares shorted with days to cover at 3.55.
Wall Street analysts have a consensus price target for the stock at $30, which means that the shares’ value could jump 44.9% from current levels. The projected low price target is $30.0 while the price target rests at a high of $30.0. In that case, then, we find that the current price level is -81.49% off the targeted high while a plunge would see the stock gain -81.49% from current levels.
Allegro Microsystems Inc (ALGM) estimates and forecasts
The company’s shares have lost -19.41% over the past 6 months. Revenue growth from the last financial year stood is estimated to be -31.62%.
9 analysts offering their estimates for the company have set an average revenue estimate of 185.36M for the current quarter. 7 have an estimated revenue figure of 191.94M for the next ending quarter. Year-ago sales stood 240.58M and 166.92M respectively for this quarter and the next, and analysts expect sales will shrink by -22.95% for the current quarter and -31.62% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 11.89% over the past 5 years. Earnings growth for 2025 is a modest -83.05% while over the next 5 years, the company’s earnings are expected to decrease by -10.20%.
ALGM Dividends
Allegro Microsystems Inc is expected to release its next earnings report on 2025-Jan-29 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Allegro Microsystems Inc (NASDAQ:ALGM)’s Major holders
Insiders own 33.31% of the company shares, while shares held by institutions stand at 78.19% with a share float percentage of 117.24%. Investors are also buoyed by the number of investors in a company, with Allegro Microsystems Inc having a total of 380.0 institutions that hold shares in the company. The top two institutional holders are FMR LLC with over 19.72 million shares worth more than $556.88 million. As of 2024-06-30, FMR LLC held 10.1929% of shares outstanding.
The other major institutional holder is JPMORGAN CHASE & CO, with the holding of over 9.14 million shares as of 2024-06-30. The firm’s total holdings are worth over $258.09 million and represent 4.7239% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Fidelity Select Portfolios-Semiconductors Portfolio and SMALLCAP WORLD FUND INC . As of Feb 28, 2025 , the former fund manager holds about 4.84% shares in the company for having 8.91 shares of worth $147.23 million while later fund manager owns 5.23 shares of worth $86.51 million as of Dec 31, 2024 , which makes it owner of about 2.84% of company’s outstanding stock.
