In the past week, ALGM stock has gone up by 11.74%, with a monthly gain of 10.58% and a quarterly surge of 11.78%. The volatility ratio for the week is 3.25%, and the volatility levels for the last 30 days are 3.04% for Allegro Microsystems Inc. The simple moving average for the past 20 days is 9.04% for ALGM’s stock, with a -6.11% simple moving average for the past 200 days.
Is It Worth Investing in Allegro Microsystems Inc. (NASDAQ: ALGM) Right Now?
Allegro Microsystems Inc. (NASDAQ: ALGM) has a higher price-to-earnings ratio of 26.10x compared to its average ratio, The 36-month beta value for ALGM is at 1.75. Analysts have varying views on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for ALGM is 78.63M, and currently, shorts hold a 11.00% of that float. The average trading volume for ALGM on May 01, 2024 was 1.73M shares.
ALGM) stock’s latest price update
The stock price of Allegro Microsystems Inc. (NASDAQ: ALGM) has plunged by -1.85 when compared to previous closing price of 30.25, but the company has seen a 11.74% gain in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-04-08 that The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock’s price.
Analysts’ Opinion of ALGM
Many brokerage firms have already submitted their reports for ALGM stocks, with Evercore ISI repeating the rating for ALGM by listing it as a “Outperform.” The predicted price for ALGM in the upcoming period, according to Evercore ISI is $36 based on the research report published on April 16, 2024 of the current year 2024.
Wolfe Research, on the other hand, stated in their research note that they expect to see ALGM reach a price target of $35. The rating they have provided for ALGM stocks is “Outperform” according to the report published on February 02nd, 2024.
TD Cowen gave a rating of “Outperform” to ALGM, setting the target price at $35 in the report published on February 02nd of the current year.
ALGM Trading at 3.97% 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 -44.03% of loss for the given period.
Volatility was left at 3.04%, however, over the last 30 days, the volatility rate increased by 3.25%, as shares surge +15.62% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -4.69% lower at present.
During the last 5 trading sessions, ALGM rose by +11.74%, which changed the moving average for the period of 200-days by -40.47% in comparison to the 20-day moving average, which settled at $27.43. In addition, Allegro Microsystems Inc. saw -1.92% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at ALGM starting from Glover Max R., who sale 15,000 shares at the price of $31.77 back on Mar 08 ’24. After this action, Glover Max R. now owns 244,625 shares of Allegro Microsystems Inc., valued at $476,486 using the latest closing price.
Nargolwala Vineet A, the President and CEO of Allegro Microsystems Inc., purchase 1,000 shares at $27.84 during a trade that took place back on Nov 17 ’23, which means that Nargolwala Vineet A is holding 302,161 shares at $27,840 based on the most recent closing price.
Stock Fundamentals for ALGM
Current profitability levels for the company are sitting at:
- 0.23 for the present operating margin
- 0.56 for the gross margin
The net margin for Allegro Microsystems Inc. stands at 0.21. The total capital return value is set at 0.17. Equity return is now at value 21.88, with 16.74 for asset returns.
Based on Allegro Microsystems Inc. (ALGM), the company’s capital structure generated 0.2 points at debt to capital in total, while cash flow to debt ratio is standing at 0.78. The debt to equity ratio resting at 0.24. The interest coverage ratio of the stock is 52.7.
Currently, EBITDA for the company is 253.24 million with net debt to EBITDA at 0.2. When we switch over and look at the enterprise to sales, we see a ratio of 5.38. The receivables turnover for the company is 9.12for trailing twelve months and the total asset turnover is 0.69. The liquidity ratio also appears to be rather interesting for investors as it stands at 4.57.
Conclusion
In conclusion, Allegro Microsystems Inc. (ALGM) has had a mixed performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
