Allegro Microsystems Inc (NASDAQ:ALGM) price on current trading day, rose 1.90% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $27.41.
A look at the stock’s price movement, the close in the last trading session was $26.90, moving within a range at $26.67 and $27.94. The beta value (5-Year monthly) was 1.669. Turning to its 52-week performance, $33.26 and $18.59 were the 52-week high and 52-week low respectively. Overall, ALGM moved 2.35% over the past month.
Allegro Microsystems Inc’s market cap currently stands at around $5.05 billion, with investors looking forward to this quarter’s earnings report slated for on 2025-Jan-29.
Analysts have a consensus estimate of 185.35M for the company’s revenue for the quarter, with a low and high estimate of 185M and 187.5M respectively. The average forecast suggests down to a -22.96% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 717.41M, representing a -31.63% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that ALGM is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 50% Buy category.
4 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 4 recommend ALGM as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
ALGM’s current price about 6.74% and 10.45% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 58.25, while 7-day volatility ratio is 5.48% and 6.83% in the 30-day chart. Further, Allegro Microsystems Inc (ALGM) has a beta value of 1.49, and an average true range (ATR) of 1.72. Analysts have given the company’s stock an average 52-week price target of $28, forecast between a low of $26 and high of $30. Looking at the price targets, the low is 5.14% off current price level while to achieve the yearly target high, price needs to move -9.45%. Nonetheless, investors will most likely welcome a -2.15% jump to $28 which is the analysts’ median price.
If we refocus on Allegro Microsystems Inc (NASDAQ:ALGM), historical trading data shows that trading volumes averaged 4.3 over the past 10 days and 3.12 million over the past 3 months. The company’s latest data on shares outstanding shows there are 184.04 million shares.
The 33.58% of Allegro Microsystems Inc’s shares are in the hands of company insiders while institutional holders own 77.31% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 15.2 million on 2025-02-28, giving us a short ratio of 5.05. The data shows that as of 2025-02-28 short interest in Allegro Microsystems Inc (ALGM) stood at 1795.0001 of shares outstanding, with shares short rising to 11.28 million registered in 2025-01-31. Current price change has pushed the stock 25.39% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the ALGM stock continues to rise going into the next quarter.
