Allegro MicroSystems Inc. (NASDAQ: ALGM) is -42.12% lower on its value in year-to-date trading and has touched a low of $19.20 and a high of $38.28 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The ALGM stock was last observed hovering at around $21.16 in the last trading session, with the day’s loss setting it -0.22% off its average median price target of $31.00 for the next 12 months. It is also 50.14% off the consensus price target high of $42.00 offered by 8 analysts, but current levels are 16.24% higher than the price target low of $25.00 for the same period.
Currently trading at $20.94, the stock is 1.95% and -7.45% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.37 million and changing -1.04% at the moment leaves the stock -25.22% off its SMA200. ALGM registered -17.00% loss for a year compared to 6-month loss of -32.04%. The firm has a 50-day simple moving average (SMA 50) of $22.52 and a 200-day simple moving average (SMA200) of $27.95.
The stock witnessed a -4.95% gain in the last 1 month and extending the period to 3 months gives it a -12.68%, and is 5.02% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.83% over the week and 3.44% over the month.
Allegro MicroSystems Inc. (ALGM) has around 3874 employees, a market worth around $3.90B and $768.70M in sales. Current P/E ratio is 33.61 and Fwd P/E is 17.96. Profit margin for the company is 8.40%. Distance from 52-week low is 9.05% and -45.30% from its 52-week high. The company has generated returns on investments over the last 12 months (3.70%).
Allegro MicroSystems Inc. (ALGM) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Allegro MicroSystems Inc. (ALGM) is a “Buy”. 8 analysts offering their recommendations for the stock have an average rating of 1.70, where 0 rate it as a Hold and 1 think it is a “Overweight”. 7 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Allegro MicroSystems Inc. is expected to release its quarterly report on 10/27/2022.The EPS is expected to shrink by -51.50% this year.
Allegro MicroSystems Inc. (ALGM) Top Institutional Holders
The shares outstanding are 189.74M, and float is at 87.17M with Short Float at 2.62%.
Allegro MicroSystems Inc. (ALGM) Insider Activity
A total of 29 insider transactions have happened at Allegro MicroSystems Inc. (ALGM) in the last six months, with sales accounting for 9 and purchases happening 20 times. The most recent transaction is an insider sale by MARTIN JOSEPH R ,the company’sDirector. SEC filings show that MARTIN JOSEPH R sold 8,278 shares of the company’s common stock on May 23 at a price of $24.17 per share for a total of $0.2 million. Following the sale, the insider now owns 43522.0 shares.
Allegro MicroSystems Inc. disclosed in a document filed with the SEC on Mar 18 that Doogue Michael (SVP of Technology and Products) sold a total of 7,500 shares of the company’s common stock. The trade occurred on Mar 18 and was made at $29.04 per share for $0.22 million. Following the transaction, the insider now directly holds 0.22 million shares of the ALGM stock.
Still, SEC filings show that on Dec 27, Teebagy Thomas C. Jr. (SVP of Operations and Quality) disposed off 5,000 shares at an average price of $34.61 for $0.17 million. The insider now directly holds 0 shares of Allegro MicroSystems Inc. (ALGM).
Allegro MicroSystems Inc. (ALGM): Who are the competitors?
The company’s main competitors (and peers) include NVIDIA Corporation (NVDA) that is trading -11.34% down over the past 12 months and Broadcom Inc. (AVGO) that is 4.91% higher over the same period. QUALCOMM Incorporated (QCOM) is 1.42% up on the 1-year trading charts. Short interest in the company’s stock has risen 8.42% from the last report on Apr 28, 2022 to stand at a total of 2.61 million short shares sold with a short interest ratio of 5.12.