Why Allegro MicroSystems (ALGM) Stock Is Trading Lower Today [Yahoo! Finance]
Allegro MicroSystems, Inc. (ALGM)
Company Research
Source: Yahoo! Finance
Its revenue guidance for next quarter missed analysts' expectations and its operating margin shrunk. Gross margin also declined significantly, while inventory levels ticked up slightly. On the other hand, Allegro MicroSystems blew past analysts' EPS expectations this quarter. Its revenue outperformed Wall Street's estimates. Overall, the results could have been better. The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to buy Allegro MicroSystems? Access our full analysis report here, it's free What is the market telling us: Allegro MicroSystems's shares are quite volatile and over the last year have had 12 moves greater than 5%. But moves this big are very rare even for Allegro MicroSystems and that is indicating to us that this news had a significant impact on the market's perception of the business. The biggest move we wrote about over the last year was 3 months ago, when the stock gained 11.
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ALGM
News
- Allegro MicroSystems to Present at TD Cowen’s Technology, Media & Telecom Conference on May 29GlobeNewswire
- Allegro MicroSystems, Inc. (NASDAQ: ALGM) is now covered by analysts at Jefferies Financial Group Inc.. They set a "buy" rating and a $37.00 price target on the stock.MarketBeat
- Polar Semiconductor set to gain US government grant of $120 million [Reuters]Reuters
- Polar Semiconductor set to gain US government grant of $120 million [Yahoo! Finance]Yahoo! Finance
- Polar Semiconductor Announces Plans to Expand Semiconductor Manufacturing Facility in MinnesotaBusiness Wire
ALGM
Earnings
- 5/9/24 - Beat
ALGM
Sec Filings
- 5/17/24 - Form 4
- 5/17/24 - Form 4
- 5/17/24 - Form 4
- ALGM's page on the SEC website