Wall Street analysts predict that Allegro MicroSystems, Inc. (NASDAQ:ALGM) will announce sales of $188.00 million for the current quarter, according to Zacks. Two analysts have made estimates for Allegro MicroSystems’ earnings. Allegro MicroSystems reported sales of $136.65 million during the same quarter last year, which would suggest a positive year over year growth rate of 37.6%. The firm is scheduled to announce its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Allegro MicroSystems will report full year sales of $758.35 million for the current fiscal year, with estimates ranging from $757.60 million to $759.10 million. For the next year, analysts forecast that the company will report sales of $821.85 million, with estimates ranging from $819.30 million to $824.40 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Allegro MicroSystems.
Allegro MicroSystems (NASDAQ:ALGM) last posted its quarterly earnings results on Wednesday, July 28th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. The business had revenue of $188.14 million for the quarter, compared to the consensus estimate of $177.55 million. Allegro MicroSystems had a return on equity of 10.10% and a net margin of 6.74%.
In other news, SVP Michael Doogue sold 83,390 shares of the business’s stock in a transaction that occurred on Monday, September 13th. The shares were sold at an average price of $33.59, for a total value of $2,801,070.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Thomas C. Jr. Teebagy sold 150,000 shares of the company’s stock in a transaction that occurred on Friday, July 30th. The stock was sold at an average price of $27.10, for a total transaction of $4,065,000.00. Following the sale, the senior vice president now directly owns 65,198 shares in the company, valued at $1,766,865.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 569,601 shares of company stock valued at $16,408,395. Corporate insiders own 26.90% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Group One Trading L.P. increased its holdings in Allegro MicroSystems by 118.0% during the 2nd quarter. Group One Trading L.P. now owns 1,300 shares of the company’s stock valued at $36,000 after acquiring an additional 8,541 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Allegro MicroSystems by 20.0% during the 2nd quarter. Exchange Traded Concepts LLC now owns 3,087 shares of the company’s stock worth $86,000 after purchasing an additional 514 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Allegro MicroSystems during the 1st quarter worth about $98,000. Friess Associates LLC acquired a new stake in shares of Allegro MicroSystems during the 1st quarter worth about $99,000. Finally, Metropolitan Life Insurance Co NY boosted its stake in shares of Allegro MicroSystems by 355,700.0% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 3,558 shares of the company’s stock worth $99,000 after purchasing an additional 3,557 shares during the last quarter. Institutional investors and hedge funds own 42.09% of the company’s stock.
Shares of ALGM traded down $1.19 on Monday, reaching $33.36. 950,327 shares of the company’s stock traded hands, compared to its average volume of 762,812. The company has a current ratio of 3.80, a quick ratio of 3.11 and a debt-to-equity ratio of 0.04. The stock has a market cap of $6.33 billion and a PE ratio of 30.05. The stock’s 50 day simple moving average is $29.10 and its two-hundred day simple moving average is $27.20. Allegro MicroSystems has a 52-week low of $16.78 and a 52-week high of $36.85.
About Allegro MicroSystems
Allegro MicroSystems, Inc designs, develops, manufactures, and markets sensor integrated circuits (ICs) and application-specific analog power ICs for motion control and energy-efficient systems. Its products include magnetic sensor ICs, such as position, speed, and current sensor ICs; and power ICs comprising motor driver ICs, and regulator and LED driver ICs, as well as photonic and 3D sensing components, including photodiodes, eye-safe lasers and rangefinders, and readout ICs for LiDAR applications.
Further Reading: Penny Stocks, What You Need To Know
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Allegro MicroSystems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allegro MicroSystems and related companies with MarketBeat.com's FREE daily email newsletter.