MANCHESTER, N.H., April 18, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (NASDAQ:ALGM) today announced it plans to release financial results for its fourth quarter and fiscal year 2024 prior to the market open on Thursday, May 9, 2024. Following the press release, Vineet Nargolwala, President and Chief Executive Officer, and Derek D'Antilio, Senior Vice President and Chief Financial Officer, will host a conference call at 8:30 a.m. Eastern Time to discuss the Company's results and business outlook. A ...

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though?Let's take a look at what these Wall Street heavyweights have to say about Allegro MicroSystems, Inc. (ALGM) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.Allegro MicroSy ...

Core Viewpoint - The technology sector has compelling stocks that are not receiving adequate attention, presenting potential rebound opportunities for investors [1]. Group 1: Shift4 Payments (FOUR) - Shift4 Payments operates in the infrastructure software category, providing software and payment processing solutions [2]. - Wall Street rates Shift4 Payments as a consensus strong buy with an average price target of $93.18, and a high estimate of $105 [2]. - For fiscal 2024, experts project EPS of $3.68, up from $2.83 last year, and revenue of $3.75 billion, a 46% increase from $2.56 billion in 2023 [3]. Group 2: LiveRamp (RAMP) - LiveRamp operates a data collaboration platform, unifying customer data while protecting privacy [5]. - The company enjoys a unanimous strong buy rating with an average price target of $48.75 and a high estimate of $51 [5]. - For fiscal 2024, EPS is expected to reach $1.47, up from 86 cents last year, with projected sales of $648.28 million, indicating nearly 9% year-over-year growth [6]. Group 3: Allegro MicroSystems (ALGM) - Allegro MicroSystems designs and manufactures sensor integrated circuits and application-specific analog power ICs [7]. - Analysts rate Allegro as a consensus strong buy, with an average price target of $38.13 and a high estimate of $45 [7]. - For fiscal 2024, EPS is projected to be $1.32, slightly up from $1.28 last year, with expected sales growth of 7.2% to $1.04 billion [8]. Group 4: Intapp (INTA) - Intapp provides industry-specific cloud-based software solutions for professional and financial services [10]. - The stock has a unanimous strong buy rating, with an average price target of $50.44 and a high estimate of $57 [10]. - For fiscal 2024, EPS is expected to be 34 cents, up from 11 cents last year, with revenue projected at $425.04 million, a 21.1% increase year-over-year [11]. Group 5: Sonos (SONO) - Sonos designs and sells audio products globally, including wireless and home-theater speakers [12]. - Analysts rate Sonos as a consensus strong buy, with an average price target of $29.52 and a high estimate of $55 [12]. - For fiscal 2024, EPS is expected to reach 25 cents, a significant improvement from a loss of eight cents per share last year [13]. Group 6: Braze (BRZE) - Braze operates a customer engagement platform that facilitates interactions between consumers and brands [14]. - The stock is rated as a consensus strong buy, with an average price target of $68.86 and a high estimate of $80 [14]. - For fiscal 2025, analysts project revenue of $574.15 million, a 21.7% increase from last year's $471.8 million [15]. Group 7: Coursera (COUR) - Coursera operates an online educational content platform, which has gained relevance post-pandemic [16]. - Analysts have a moderate buy consensus on Coursera, with an average price target of $23.20 and a low-side target of $15 [16]. - For fiscal 2024, revenue is expected to reach $736.45 million, a 15.8% increase from $635.76 million last year [18].

In the latest market close, Allegro MicroSystems, Inc. (ALGM) reached $25.74, with a +0.23% movement compared to the previous day. The stock exceeded the S&P 500, which registered a gain of 0.11% for the day. Elsewhere, the Dow lost 0.11%, while the tech-heavy Nasdaq added 0.23%.Heading into today, shares of the company had lost 12.71% over the past month, lagging the Computer and Technology sector's gain of 1.54% and the S&P 500's gain of 1.5% in that time.Analysts and investors alike will be keeping a clo ...

MANCHESTER, N.H., April 03, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. ("Allegro") (NASDAQ:ALGM) a global leader in power and sensing semiconductor solutions for motion control and energy-efficient systems, today announced the appointment of Jennie Raubacher to Allegro's Board of Directors ("Board") as an independent director. Ms. Raubacher's appointment is effective on April 3, 2024. Jennie Raubacher joins Allegro's Board with over 25 years of experience in investment banking focused on the semico ...

Allegro MicroSystems, Inc. (ALGM) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.Over the past month, shares of this company have returned -11.6%, compared to the Zacks S&P 500 composite's +3.6% change. During this period, the Zacks Electronics - Semiconductors industry, which Allegro MicroSystems falls in, has gained 1.1%. The key question now is: What could be the stock's future dir ...

Allegro MicroSystems, Inc. (ALGM) closed at $27.78 in the latest trading session, marking a +1.02% move from the prior day. The stock's performance was ahead of the S&P 500's daily gain of 0.63%. On the other hand, the Dow registered a gain of 0.2%, and the technology-centric Nasdaq increased by 0.82%.The company's shares have seen a decrease of 11.72% over the last month, not keeping up with the Computer and Technology sector's gain of 1.16% and the S&P 500's gain of 1.76%.The upcoming earnings release of ...

Allegro MicroSystems, Inc. (ALGM) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Over the past month, shares of this company have returned -0.5%, compared to the Zacks S&P 500 composite's +2.9% change. During this period, the Zacks Electronics - Semiconductors industry, which Allegro MicroSystems, Inc. falls in, has gained 10.4%. The key question now is: What could be the stock ...

Group 1: Brokerage Recommendations - Allegro MicroSystems, Inc. has an average brokerage recommendation (ABR) of 1.38, indicating a consensus between Strong Buy and Buy, with 75% of recommendations being Strong Buy and 12.5% being Buy [1][2] - Despite the positive ABR, studies suggest limited success of brokerage recommendations in guiding investors towards stocks with the best price increase potential due to analysts' inherent biases [2][3] - Analysts employed by brokerage firms tend to be overly optimistic, often issuing more favorable ratings than warranted, which can mislead investors [5][6] Group 2: Zacks Rank vs. ABR - The Zacks Rank is a quantitative model based on earnings estimate revisions, providing a more reliable indicator of near-term stock performance compared to the ABR, which is based solely on brokerage recommendations [4][5] - The Zacks Rank is updated more frequently, reflecting timely changes in earnings estimates, while the ABR may not always be current [6] - Allegro MicroSystems, Inc. currently holds a Zacks Rank of 5 (Strong Sell) due to a 2.6% decline in the consensus earnings estimate over the past month, indicating growing pessimism among analysts [7]

Core Insights - Investors are increasingly focusing on mid-cap stocks to enhance their portfolios, particularly in the context of the ongoing AI boom [1] - The total addressable market for enterprise software is expected to grow significantly, presenting opportunities for mid-cap stocks [1] Group 1: Qualys (QLYS) - Qualys is a leader in cloud security and compliance, with over 10,000 customers and a strong position in the cybersecurity sector [2] - The company’s revenue for FY23 increased by 13% year-over-year to $554.5 million, with net income rising to $151.6 million, or $4.03 per share [2] - Qualys is guiding for double-digit revenue growth in Q1 FY24, with GAAP EPS projected in the range of $0.84 to $0.92 [2] Group 2: Science Applications International (SAIC) - SAIC is an aerospace and defense contractor with a strong AI strategy and a diverse portfolio of cybersecurity and cloud solutions [3] - In Q3 2023, SAIC's net income and EPS increased by 16% and 21%, respectively, despite flat revenue [3][4] - The company has a backlog of $23.1 billion, indicating strong future growth potential [4] Group 3: Allegro MicroSystems (ALGM) - Allegro MicroSystems is a global leader in sensor and power integrated circuits, having shipped over 11 billion integrated circuits [5] - The company reported a 16% year-over-year revenue increase to $276 million, with E-Mobility growth accelerating by 60% year-over-year [6] - Allegro's technology is crucial for the AI revolution, particularly with the expansion of data centers [5][6]