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 for automotive and industrial markets. Its Sensor IC allows customers to precisely measure motion, speed, position, and current, and Power ICs include high-temperature and high-voltage capable motor drivers, power management, and LED driver ICs. Its products are divided into three categories such as SENSE which includes Current Sensors, Switches and Latches, and Interface ICs among others; REGULATE which includes Regulators, ClearPower Modules, and LED Drivers; and DRIVE which includes BLDC Drivers, Brush DC, and others. Key revenue for the company is generated from Greater China and the rest from the United States, Japan, Europe, and other regions.

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

As of January 29, 2025, ALGM stock price climbed to $22.85 with 2,399,421 million shares trading.

ALGM has a beta of 2.04, meaning it tends to be more sensitive to market movements. ALGM has a correlation of 0.26 to the broad based SPY ETF.

ALGM has a market cap of $4.20 billion. This is considered a Mid Cap stock.

Last quarter Allegro Microsystems reported $187 million in Revenue and $.08 earnings per share. This fell short of revenue expectation by $-189,000 and exceeded earnings estimates by $.02.

In the last 3 years, ALGM traded as high as $53.05 and as low as $18.59.

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

ALGM has underperformed the market in the last year with a price return of -14.6% while the SPY ETF gained +24.9%. ALGM has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -3.0% and -0.3%, respectively, while the SPY returned +4.0% and +3.4%, respectively.

ALGM support price is $21.53 and resistance is $22.85 (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 shares will trade within this expected range on the day.