Allegro MicroSystems Inc. (NASDAQ: ALGM) has a price-to-earnings ratio of 57.75x that is above its average ratio. There are mixed opinions on the stock, with 5 analysts rating it as a “buy,” 1 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
The average price predicted by analysts for ALGM is $44.83, which is -$2.16 below the current price. The public float for ALGM is 87.51M and currently, short sellers hold a 7.56% ratio of that float. The average trading volume of ALGM on March 15, 2023 was 1.62M shares.
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ALGM) stock’s latest price update
Allegro MicroSystems Inc. (NASDAQ: ALGM)’s stock price has increased by 4.32 compared to its previous closing price of 43.29. but the company has seen a -0.20% decline in its stock price over the last five trading sessions.
ALGM’s Market Performance
Allegro MicroSystems Inc. (ALGM) has seen a -0.20% fall in stock performance for the week, with a 5.69% gain in the past month and a 39.04% surge in the past quarter. The volatility ratio for the week is 4.67%, and the volatility levels for the past 30 days are at 3.83% for ALGM. The simple moving average for the last 20 days is 1.96% for ALGM stock, with a simple moving average of 59.81% for the last 200 days.
Analysts’ Opinion of ALGM
Many brokerage firms have already submitted their reports for ALGM stocks, with Cowen repeating the rating for ALGM by listing it as a “Outperform.” The predicted price for ALGM in the upcoming period, according to Cowen is $30 based on the research report published on May 25th of the previous year 2022.
Needham gave a rating of “Buy” to ALGM, setting the target price at $27 in the report published on November 23rd of the previous year.
ALGM Trading at 16.62% from the 50-Day Moving Average
After a stumble in the market that brought ALGM to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -5.27% of loss for the given period.
Volatility was left at 3.83%, however, over the last 30 days, the volatility rate increased by 4.67%, as shares surge +3.39% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +50.63% upper at present.
During the last 5 trading sessions, ALGM fell by -0.20%, which changed the moving average for the period of 200-days by +86.92% in comparison to the 20-day moving average, which settled at $44.37. In addition, Allegro MicroSystems Inc. saw 50.43% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at ALGM starting from Lury Richard R., who sale 6,000 shares at the price of $42.58 back on Feb 08. After this action, Lury Richard R. now owns 27,663 shares of Allegro MicroSystems Inc., valued at $255,480 using the latest closing price.
Lynch Susan D, the Director of Allegro MicroSystems Inc., purchase 240 shares at $41.53 during a trade that took place back on Feb 03, which means that Lynch Susan D is holding 12,523 shares at $9,967 based on the most recent closing price.
Stock Fundamentals for ALGM
Current profitability levels for the company are sitting at:
- +18.25 for the present operating margin
- +53.17 for the gross margin
The net margin for Allegro MicroSystems Inc. stands at +15.53. Equity return is now at value 18.80, with 15.60 for asset returns.
The liquidity ratio also appears to be rather interesting for investors as it stands at 4.91.
Conclusion
In conclusion, Allegro MicroSystems Inc. (ALGM) has seen better performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
