Allegro MicroSystems Inc. (NASDAQ: ALGM) is 21.75% higher on its value in year-to-date trading and has touched a low of $19.20 and a high of $48.72 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The ALGM stock was last observed hovering at around $37.56 in the last trading session, with the day’s loss setting it -1.01% off its average median price target of $51.00 for the next 12 months. It is also 32.31% off the consensus price target high of $54.00 offered by 6 analysts, but current levels are 26.9% higher than the price target low of $50.00 for the same period.
Currently trading at $36.55, the stock is -3.04% and -13.24% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.69 million and changing -2.69% at the moment leaves the stock 10.31% off its SMA200. ALGM registered 51.03% gain for a year compared to 6-month gain of 24.32%. The firm has a 50-day simple moving average (SMA 50) of $7.18 and a 200-day simple moving average (SMA200) of $26.42.
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The stock witnessed a -5.77% loss in the last 1 month and extending the period to 3 months gives it a -16.53%, and is -5.90% down 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 4.07% over the week and 4.10% over the month.
Allegro MicroSystems Inc. (ALGM) has around 4036 employees, a market worth around $6.99B and $973.70M in sales. Current P/E ratio is 37.80 and Fwd P/E is 22.46. Profit margin for the company is 12.30%. Distance from 52-week low is 90.34% and -24.98% from its 52-week high. The company has generated returns on investments over the last 12 months (15.20%).
Allegro MicroSystems Inc. (ALGM) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Allegro MicroSystems Inc. (ALGM) is a “Buy”. 6 analysts offering their recommendations for the stock have an average rating of 2.00, where 0 rate it as a Hold and 1 think it is a “Overweight”. 5 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 07/27/2023.The EPS is expected to grow by 557.40% this year
Allegro MicroSystems Inc. (ALGM) Top Institutional Holders
The shares outstanding are 191.33M, and float is at 87.51M with Short Float at 6.29%.
Allegro MicroSystems Inc. (ALGM) Insider Activity
A total of 16 insider transactions have happened at Allegro MicroSystems Inc. (ALGM) in the last six months, with sales accounting for 13 and purchases happening 3 times. The most recent transaction is an insider sale by Lury Richard R., the company’s Director. SEC filings show that Lury Richard R. sold 6,000 shares of the company’s common stock on Feb 08 at a price of $42.58 per share for a total of $0.26 million. Following the sale, the insider now owns 27663.0 shares.
Allegro MicroSystems Inc. disclosed in a document filed with the SEC on Feb 03 that Lynch Susan D (Director) bought a total of 240 shares of the company’s common stock. The trade occurred on Feb 03 and was made at $41.53 per share for $9967.0. Following the transaction, the insider now directly holds 12523.0 shares of the ALGM stock.
Still, SEC filings show that on Feb 02, OEP SKNA, L.P. (10% Owner) disposed off 4,980,000 shares at an average price of $37.76 for $188.04 million. The insider now directly holds 17,649,247 shares of Allegro MicroSystems Inc. (ALGM).
