ALGM Stock Summary and Trading Ideas (Allegro Microsystems | NASDAQ:ALGM)

Allegro Microsystems Inc is a designer, developer, fabless manufacturer and marketer of sensor ICs and application-specific analog power ICs enabling the critical emerging technologies in the automotive and industrial markets. It is a supplier of power ICs. Its sensor IC allow customers to precisely measure motion, speed, position and current. At the same time, its power ICs include high-temperature and high-voltage capable motor driver, power management and LED driver ICs. Its products are divided into three categories such as SENSE which include Current Sensors, Switches and Latches, Linear and Angular Position, Magnetic Speed Sensors, and Photonics; REGULATE which include Regulators, ClearPower Modules, and LED Drivers; and DRIVE which includes BLDC Drivers, Brush DC and Stepper Driver.

Allegro Microsystems trades on the NASDAQ stock market under the symbol ALGM.

As of May 3, 2024, ALGM stock price climbed to $29.97 with 654,558 million shares trading.

ALGM has a beta of 1.69, meaning it tends to be more sensitive to market movements. ALGM has a correlation of 0.19 to the broad based SPY ETF.

ALGM has a market cap of $5.79 billion. This is considered a Mid Cap stock.

Last quarter Allegro Microsystems reported $255 million in Revenue and $.32 earnings per share. This fell short of revenue expectation by $-56,000 and exceeded earnings estimates by $.03.

In the last 3 years, ALGM stock traded as high as $53.05 and as low as $19.20.

The top ETF exchange traded funds that ALGM belongs to (by Net Assets): VTI, IJH, VB, XSD, VGT.

ALGM stock has underperformed the market in the last year with a return of -20.2%, while SPY returned +27.0%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in ALGM shares. However, ALGM has outperformed the market in the last 3 month and 2 week periods, returning +4.6% and +14.9%, while SPY returned +3.7% and +3.3%, respectively. This indicates ALGM has been having a stronger performance recently.

ALGM support price is $28.82 and resistance is $30.38 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that ALGM stock will trade within this expected range on the day.