Allegro Microsystems Inc. (NASDAQ:ALGM) saw an upside of 0.19% to $31.55 after adding $0.06 on Wednesday. The 5-day average trading volume is 1,092,984 shares of the company’s common stock. It has gained $32.32 in the past week and touched a new high 2 times within the past 5 days. An average of 1,345,116 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,427,870.
ALGM’s 1-month performance is -16.22% or -$5.89 on its low of $31.31 reached on 09/26/23. The company’s shares have touched a 52-week low of $19.80 and high of $53.05, with the stock’s rally to the 52-week high happening on 07/19/23. YTD, ALGM has achieved 5.10% or $1.63 and has reached a new high 27 times. However, the current price is down -40.53% from the 52-week high price.
Insider Transactions
ALGM stock investors last saw insider trading activity on Sep 15.MARTIN JOSEPH R (Director) most recently sold 17,000 shares at $38.73 per share on Aug 23. This transaction cost the insider $658,376. Director, Lury Richard R., sold 6,000 shares at a price of $42.58 on Feb 08. Then, on Feb 02, 10% Owner OEP SKNA, L.P. sold 4,980,000 shares at a price of $37.76 per share. This transaction amounted to $188,044,800.
Valuation Metrics
ALGM stock has a beta of 1.86. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 5.87 while the price-to-book (PB) in the most recent quarter is 5.91, with the price to cash flow ratio at 63.21.
Allegro Microsystems Inc.’s quick ratio for the period ended June 29 was 3.43, with the current ratio over the same period at 4.56. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.04, while the total debt to equity was 0.05. In terms of profitability, the gross margin trailing 12 months is 56.62%. The trailing 12-month EBITDA margin is 25.81% while for the period ending June 29, Allegro Microsystems Inc.’s operating margin was 25.42%. The firm’s gross profit as reported stood at $546.08 million against revenue of $973.65 million.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 83.16% to $60.85 million, while revenue of $61.98 million was -1.86% off the previous quarter. Analysts expected ALGM to announce $0.37 per share in earnings in its latest quarter, but it posted $0.39, representing a 5.40% surprise. EBITDA for the quarter stood at more than $85.05 million. ALGM stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 206.32 million, with total debt at $46.39 million. Shareholders hold equity totaling $192.38 million.
Let’s look briefly at Allegro Microsystems Inc. (ALGM) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 26 September was 23.23% to suggest the stock is trending oversold, with historical volatility in this time period at 23.13%.
The stock’s 5-day moving average is $31.79, reflecting a -2.68% or -$0.87 change from its current price. ALGM is currently trading -18.11% above its 20-day SMA, -13.45% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -39.97% and SMA200 by-2.91%.
Stochastic %K and %D was 8.64% and 7.93% and the average true range (ATR) pointed at 0.97. The RSI (14) points at 25.43%, while the 14-day stochastic is at 8.23% with the period’s ATR at 1.09. The stock’s 9-day MACD Oscillator is pointing at -0.51 and -1.17 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Allegro Microsystems Inc. (NASDAQ: ALGM), Wolfe Research launched coverage with a Peer perform rating. Analysts offering their rating for ALGM stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate ALGM as a “sell,”, while 1 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 5 have offered a “buy” rating.
What is ALGM’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $50.00 and a high of $60.00, with their median price target at $55.00. Looking at these predictions, the average price target given by analysts is for Allegro Microsystems Inc. (ALGM) stock is $55.33.
