Allegro Microsystems Inc (NASDAQ:ALGM) price on Thursday, April 10, fall -6.07% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $21.82.
A look at the stock’s price movement, the close in the last trading session was $23.23, moving within a range at $20.01 and $22.25. The beta value (5-Year monthly) was 1.532. Turning to its 52-week performance, $33.26 and $18.34 were the 52-week high and 52-week low respectively. Overall, ALGM moved -12.51% over the past month.
Allegro Microsystems Inc’s market cap currently stands at around $4.02 billion, with investors looking forward to this quarter’s earnings report slated for on 2025-Jan-29.
Turning to the stock’s technical picture we see that short term indicators suggest on average that ALGM is a Hold. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell 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 -12.63% and -12.79% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 41.99, while 7-day volatility ratio is 15.68% and 7.72% in the 30-day chart. Further, Allegro Microsystems Inc (ALGM) has a beta value of 1.54, and an average true range (ATR) of 2.16. 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 -19.16% off current price level while to achieve the yearly target high, price needs to move -37.49%. Nonetheless, investors will most likely welcome a -28.32% 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 3.94 over the past 10 days and 3.30 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 77.34% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 15.29 million on 2025-03-14, giving us a short ratio of 3.43. The data shows that as of 2025-03-14 short interest in Allegro Microsystems Inc (ALGM) stood at 1804.9999 of shares outstanding, with shares short rising to 13.77 million registered in 2025-02-14. Current price change has pushed the stock -0.18% 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.
