Allegro MicroSystems Inc. [ALGM] Is Currently -4.06 below its 200 Period Moving Avg: What Does This Mean?

Allegro MicroSystems Inc. [NASDAQ: ALGM] slipped around -1.77 points on Thursday, while shares priced at $41.87 at the close of the session, down -4.06%.

Allegro MicroSystems Inc. stock is now 39.47% up from its year-to-date (YTD) trading value. ALGM Stock saw the intraday high of $42.605 and lowest of $40.89 per share. The company’s 52-week high price is 48.72, which means current price is +45.18% above from all time high which was touched on 04/03/23.

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Compared to the average trading volume of 1.56M shares, ALGM reached a trading volume of 2718521 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 $48.29 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 2.00. 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.

Cowen have made an estimate for Allegro MicroSystems Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on May 25, 2022. While these analysts kept the previous recommendation, William Blair raised their target price to Outperform. The new note on the price target was released on June 30, 2021, representing the official price target for Allegro MicroSystems Inc. stock. Previously, the target price had yet another raise to $27, while Needham analysts kept a Buy rating on ALGM stock.

The Average True Range (ATR) for Allegro MicroSystems Inc. is set at 1.68, with the Price to Sales ratio for ALGM stock in the period of the last 12 months amounting to 8.82. The Price to Book ratio for the last quarter was 8.97, with the Price to Cash per share for the same quarter was set at 1.75. Price to Free Cash Flow for ALGM in the course of the last twelve months was 66.77 with Quick ratio for the last quarter at 3.60.

How has ALGM stock performed recently?

Allegro MicroSystems Inc. [ALGM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.58. With this latest performance, ALGM shares dropped by -10.05% in over the last four-week period, additionally plugging by 97.13% over the last 6 months – not to mention a rise of 67.68% in the past year of trading.

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 37.29, with the RSI for the last a single of trading hit 30.28, and the three-weeks RSI is set at 42.79 for Allegro MicroSystems Inc. [ALGM]. The present Moving Average for the last 50 days of trading for this stock 44.89, while it was recorded at 43.65 for the last single week of trading, and 31.36 for the last 200 days.

Allegro MicroSystems Inc. [ALGM]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Allegro MicroSystems Inc. [ALGM] shares currently have an operating margin of +18.25 and a Gross Margin at +53.17. Allegro MicroSystems Inc.’s Net Margin is presently recorded at +15.53.

Return on Total Capital for ALGM is now 20.21, given the latest momentum, and Return on Invested Capital for the company is 17.27. Return on Equity for this stock inclined to 18.09, with Return on Assets sitting at 14.42. When it comes to the capital structure of this company, Allegro MicroSystems Inc. [ALGM] has a Total Debt to Total Equity ratio set at 5.65. Additionally, ALGM Total Debt to Total Capital is recorded at 5.34, with Total Debt to Total Assets ending up at 4.59. Long-Term Debt to Equity for the company is recorded at 5.14, with the Long-Term Debt to Total Capital now at 4.87.

Reflecting on the efficiency of the workforce at the company, Allegro MicroSystems Inc. [ALGM] managed to generate an average of $29,585 per employee. Receivables Turnover for the company is 7.13 with a Total Asset Turnover recorded at a value of 0.93.Allegro MicroSystems Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.60 and a Current Ratio set at 4.50.

Earnings analysis for Allegro MicroSystems Inc. [ALGM]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ALGM. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Allegro MicroSystems Inc. go to 18.00%.

Insider trade positions for Allegro MicroSystems Inc. [ALGM]

There are presently around $4,190 million, or 48.50% of ALGM stock, in the hands of institutional investors. The top three institutional holders of ALGM stocks are: OEP CAPITAL ADVISORS, L.P. with ownership of 22,629,247, which is approximately 0% of the company’s market cap and around 0.70% of the total institutional ownership; VANGUARD GROUP INC, holding 6,548,321 shares of the stock with an approximate value of $285.77 million in ALGM stocks shares; and BLACKROCK INC., currently with $259.52 million in ALGM stock with ownership of nearly 114.678% of the company’s market capitalization.

Positions in Allegro MicroSystems Inc. stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 157 institutional holders increased their position in Allegro MicroSystems Inc. [NASDAQ:ALGM] by around 14,549,426 shares. Additionally, 85 investors decreased positions by around 8,291,391 shares, while 15 investors held positions by with 73,164,959 shares. The mentioned changes placed institutional holdings at 96,005,776 shares, according to the latest SEC report filing. ALGM stock had 83 new institutional investments in for a total of 2,684,115 shares, while 23 institutional investors sold positions of 1,271,272 shares during the same period.


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