Allegro MicroSystems Inc. [ALGM] Stock trading around $24.81 per share: What’s Next?

Allegro MicroSystems Inc. [NASDAQ: ALGM] stock went on a downward path that fall over -9.25% on Wednesday, amounting to a one-week price decrease of less than -6.45%. The company report on December 2, 2020 that Allegro MicroSystems to Participate in Barclays Investor Conference.

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Allegro MicroSystems, Inc. (“Allegro”) (NASDAQ: ALGM), a global leader in sensing and power semiconductor technology, announced President & Chief Executive Officer, Ravi Vig, will participate in Barclays Global Technology, Media and Telecommunications Conference. The event will take place virtually on December 9, 2020, where Mr. Vig will participate in a fireside chat at 9:30a.m. Eastern time.

The live audio webcast for this conference can be accessed through the Investor Relations section of Allegro’s website (https://investors.allegromicro.com). An archived replay of the presentation will be available on the website after the event.

The one-year Allegro MicroSystems Inc. stock forecast points to a potential upside of 12.95. The average equity rating for ALGM stock is currently 1.80, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $4.86 billion, with 196.08 million shares outstanding and 178.79 million shares in the current float. Compared to the average trading volume of 1.30M shares, ALGM stock reached a trading volume of 1222939 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Allegro MicroSystems Inc. [ALGM]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ALGM shares is $28.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ALGM stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Needham have made an estimate for Allegro MicroSystems Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 23, 2020. While these analysts kept the previous recommendation, Mizuho raised their target price to Buy. The new note on the price target was released on November 23, 2020, representing the official price target for Allegro MicroSystems Inc. stock. Previously, the target price had yet another raise to $28, while Jefferies analysts kept a Buy rating on ALGM stock.

The Average True Range (ATR) for Allegro MicroSystems Inc. is set at 2.15, with the Price to Sales ratio for ALGM stock in the period of the last 12 months amounting to 8.30.

ALGM Stock Performance Analysis:

Allegro MicroSystems Inc. [ALGM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.45.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ALGM stock in for the last two-week period is set at 50.79, with the RSI for the last a single of trading hit 44.79, and the three-weeks RSI is set at 54.61 for Allegro MicroSystems Inc. [ALGM], while it was recorded at 25.98 for the last single week of trading.

Insight into Allegro MicroSystems Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Allegro MicroSystems Inc. [ALGM] shares currently have an operating margin of +10.10 and a Gross Margin at +40.17. Allegro MicroSystems Inc.’s Net Margin is presently recorded at +5.69.

Return on Total Capital for ALGM is now 9.71, given the latest momentum, and Return on Invested Capital for the company is 5.82. Return on Equity for this stock inclined to 6.05, with Return on Assets sitting at 4.67. When it comes to the capital structure of this company, Allegro MicroSystems Inc. [ALGM] has a Total Debt to Total Equity ratio set at 13.53. Additionally, ALGM Total Debt to Total Capital is recorded at 11.92, with Total Debt to Total Assets ending up at 10.29. Long-Term Debt to Equity for the company is recorded at 2.80, with the Long-Term Debt to Total Capital now at 2.46.

Receivables Turnover for the company is 6.25 with a Total Asset Turnover recorded at a value of 0.82.Allegro MicroSystems Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.70 and a Current Ratio set at 3.70.

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