Allegro Microsystems Inc [NASDAQ: ALGM] jumped around 0.61 points on Thursday, while shares priced at $20.75 at the close of the session, up 3.03%.
Compared to the average trading volume of 2.18M shares, ALGM reached a trading volume of 6258424 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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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 $27.60 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 1.42. 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.
Loop Capital have made an estimate for Allegro Microsystems Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 12, 2024. While these analysts kept the previous recommendation, Morgan Stanley raised their target price to Equal-Weight. The new note on the price target was released on November 07, 2024, representing the official price target for Allegro Microsystems Inc stock. Previously, the target price had yet another raise to $33, while UBS analysts kept a Buy rating on ALGM stock.
The Average True Range (ATR) for Allegro Microsystems Inc is set at 0.93, with the Price to Sales ratio for ALGM stock in the period of the last 12 months amounting to 4.49. The Price to Book ratio for the last quarter was 4.07, with the Price to Cash per share for the same quarter was set at 1.08. Price to Free Cash Flow for ALGM in the course of the last twelve months was 57.07 with Quick ratio for the last quarter at 2.80.
How has ALGM stock performed recently?
Allegro Microsystems Inc [ALGM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.64. With this latest performance, ALGM shares dropped by -0.29% in over the last four-week period, additionally sinking by -31.04% over the last 6 months – not to mention a drop of -26.55% 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 49.31, with the RSI for the last a single of trading hit 52.55, and the three-weeks RSI is set at 47.86 for Allegro Microsystems Inc [ALGM]. The present Moving Average for the last 50 days of trading for this stock 21.51, while it was recorded at 19.74 for the last single week of trading, and 26.22 for the last 200 days.
Allegro Microsystems Inc [ALGM]: Deeper insight into the fundamentals
Allegro Microsystems Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.80 and a Current Ratio set at 4.22.
Earnings analysis for Allegro Microsystems Inc [ALGM]
With the latest financial reports released by the company, Allegro Microsystems Inc posted 0.32/share EPS, while the average EPS was predicted by analysts to be reported at 0.29/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 0.03. 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 -3.90%.
Insider trade positions for Allegro Microsystems Inc [ALGM]
There are presently around $78.18%, or 117.21%% of ALGM stock, in the hands of institutional investors. The top three institutional holders of ALGM stocks are: FMR LLC with ownership of 19.72 million shares, which is approximately 10.2401%. JPMORGAN CHASE & CO, holding 9.14 million shares of the stock with an approximate value of $$258.09 million in ALGM stocks shares; and JPMORGAN CHASE & CO, currently with $$245.01 million in ALGM stock with ownership which is approximately 4.5053%.
