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Wednesday, December 6, 2023

Searching For Real Value In Market Debris At Allegro Microsystems Inc. (NASDAQ: ALGM)

After Hours

There may be slightly higher risks associated with pre-market and after-hours trading than during regular market hours. Due to the fact that issuers often announce critical financial information outside of regular trading hours, extended-hours trading may result in wider spreads for particular securities. After-hours trades for Allegro Microsystems Inc. (ALGM) shows that investor sentiment remained broken, with the stock’s consolidated last price falling by -$0.04, or -0.14%, to $28.00. The Allegro Microsystems Inc. has recorded 17,307 volume in the after hours trading session. Yahoo Finance discussed the stock recently as it posted Allegro MicroSystems Reports Second Quarter 2024 Results.

Stocks Info

As a NASDAQ listed company, ALGM falls under the Technology sector while operating within the Semiconductors industry segment. At the end of the last regular session, the stock closed at $28.04 and fluctuated between $28.68 as its day high and $27.76 as its day low. The current market capitalization of Allegro Microsystems Inc. is $5.40B. A total of 1.23 million shares were traded on the day, compared to an average of 1.33M shares.

Insider Activity

Aside from predicting where a stock will go, investors also consider insider trades as an indicator of the stock’s future direction. During the recent three months, ALGM has seen 1 BUY and 2 SELL insider trades, representing the acquisition of 1,488 and the disposition of 17,714 shares. Over the last 12 months, there were 28 BUYs and 29 SELLs from insiders. Insiders purchased 743,208 shares during that period but sold 5,395,313.

In the most recent transaction, Lynch Susan D bought 350 shares of ALGM for 27.37 per share on Nov 14. After the transaction, the Director now owns 16,711 company shares. In a previous transaction on Sep 15, D’Antilio Derek bought 1,488 shares at 33.63 per share. ALGM shares that SVP, CFO & Treasurer owns now total 142,899.

Among the insiders who sold shares, MARTIN JOSEPH R disposed of 17,000 shares on Aug 23 at a per-share price of $38.73. This resulted in the Director holding 22,374 shares of ALGM after the transaction. In another insider transaction, Nargolwala Vineet A bought 5,000 shares at $38.67 per share on Aug 16. Company shares held by the President and CEO now total 301,161.

In spite of price targets being rarely accurate, it tends to exert some kind influence from time to time, and was often accepted by the market as having some value. According to analysts who have offered 12-month price targets for ALGM in the last 3 months, the mean price target is $39.57 with high estimates of $48.00 and low estimates of $29.00. In terms of 52-week highs and lows, ALGM has a high of $53.05 and a low of $24.66.

As of this writing, ALGM has an earnings estimate of $0.29 per share for the current quarter. EPS was calculated based on a consensus of 8 estimates, with a high estimate of $0.29 per share and a lower estimate of $0.28. The company reported an EPS of $0.39 in the last quarter, which was 5.40% higher than expectations of $0.37.

Balance Sheet Annually/Quarterly

The balance sheet of a company shows what assets and liabilities a company has, as well as the amount, equity investors have invested. With the help of this information, a company’s financial ratios can be calculated to give investors an overview of the company’s prospects. ALGM’s latest balance sheet shows that the firm has $282.38M in Cash & Short Term Investments as of fiscal 2022. There were $41.45M in debt and $104.22M in liabilities at the time. Its Book Value Per Share was $5.70, while its Total Shareholder’s Equity was $735.36M.

Analysts Opinion

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for ALGM is Buy with a score of 4.38.

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