Allegro Microsystems Inc. (NASDAQ: ALGM) has a price-to-earnings ratio that is above its average at 59.76x. The stock has a 36-month beta value of 1.69. Opinions on the stock are mixed, with 5 analysts rating it as a “buy,” 2 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for ALGM is 125.59M, and at present, short sellers hold a 7.33% of that float. On September 17, 2024, the average trading volume of ALGM was 2.23M shares.
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ALGM) stock’s latest price update
Allegro Microsystems Inc. (NASDAQ: ALGM)’s stock price has plunge by 1.07relation to previous closing price of 22.44. Nevertheless, the company has seen a 2.30% surge in its stock price over the last five trading sessions. zacks.com reported 2024-09-13 that ALGM’s shares have struggled with weak demand and intense competition. However, expanding its portfolio is likely to drive near-term growth.
ALGM’s Market Performance
Allegro Microsystems Inc. (ALGM) has experienced a 2.30% rise in stock performance for the past week, with a -9.71% drop in the past month, and a -19.06% drop in the past quarter. The volatility ratio for the week is 4.62%, and the volatility levels for the past 30 days are at 4.30% for ALGM. The simple moving average for the past 20 days is -3.68% for ALGM’s stock, with a -18.65% simple moving average for the past 200 days.
Analysts’ Opinion of ALGM
Many brokerage firms have already submitted their reports for ALGM stocks, with UBS repeating the rating for ALGM by listing it as a “Buy.” The predicted price for ALGM in the upcoming period, according to UBS is $33 based on the research report published on September 03, 2024 of the current year 2024.
Jefferies, on the other hand, stated in their research note that they expect to see ALGM reach a price target of $37. The rating they have provided for ALGM stocks is “Buy” according to the report published on May 13th, 2024.
TD Cowen gave a rating of “Buy” to ALGM, setting the target price at $32 in the report published on May 10th of the current year.
ALGM Trading at -10.41% 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 -34.18% of loss for the given period.
Volatility was left at 4.30%, however, over the last 30 days, the volatility rate increased by 4.62%, as shares sank -9.13% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -26.22% lower at present.
During the last 5 trading sessions, ALGM rose by +2.30%, which changed the moving average for the period of 200-days by -17.01% in comparison to the 20-day moving average, which settled at $23.43. In addition, Allegro Microsystems Inc. saw -25.07% 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 Sanken Electric Co., Ltd., who sale 10,017,315 shares at the price of $23.16 back on Aug 07 ’24. After this action, Sanken Electric Co., Ltd. now owns 59,732,782 shares of Allegro Microsystems Inc., valued at $232,001,015 using the latest closing price.
Sanken Electric Co., Ltd., the 10% Owner of Allegro Microsystems Inc., sale 28,750,000 shares at $23.16 during a trade that took place back on Jul 29 ’24, which means that Sanken Electric Co., Ltd. is holding 69,750,097 shares at $665,850,000 based on the most recent closing price.
Stock Fundamentals for ALGM
Current profitability levels for the company are sitting at:
- 0.15 for the present operating margin
- 0.52 for the gross margin
The net margin for Allegro Microsystems Inc. stands at 0.08. The total capital return value is set at 0.1. Equity return is now at value 6.95, with 5.53 for asset returns.
Based on Allegro Microsystems Inc. (ALGM), the company’s capital structure generated 0.16 points at debt to capital in total, while cash flow to debt ratio is standing at 0.8. The debt to equity ratio resting at 0.19. The interest coverage ratio of the stock is 14.01.
Currently, EBITDA for the company is 280.84 million with net debt to EBITDA at 0.19. When we switch over and look at the enterprise to sales, we see a ratio of 4.49. The receivables turnover for the company is 13.97for trailing twelve months and the total asset turnover is 0.65. The liquidity ratio also appears to be rather interesting for investors as it stands at 4.65.
Conclusion
To sum up, Allegro Microsystems Inc. (ALGM) has seen a bad performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as 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.
