Allegro MicroSystems, Inc. (ALGM) Is Up 8.06% in One Week: What You Should Know

Company Overview - Allegro MicroSystems, Inc. (ALGM) currently holds a Momentum Style Score of B and a Zacks Rank of 2 (Buy) [3][4] - The company has shown strong performance in the semiconductor industry, with shares up 8.06% over the past week compared to the Zacks Electronics - Semiconductors industry, which is up 1.65% [6] - Over the past month, ALGM's price change is 24.66%, significantly outperforming the industry's 7.22% [6] Price Performance - In the last three months, ALGM shares have risen 24.37%, while in the past year, they are up 17.08% [7] - In comparison, the S&P 500 has only moved 6.01% and 13.18% over the same periods [7] Trading Volume - The average 20-day trading volume for ALGM is 1,693,278 shares, indicating a bullish trend as the stock is rising with above-average volume [8] Earnings Outlook - Over the past two months, 2 earnings estimates for ALGM have moved higher, while 1 has moved lower, resulting in an increase in the consensus estimate from $0.47 to $0.53 [10] - For the next fiscal year, 2 estimates have moved upwards with no downward revisions during the same period [10] Conclusion - Considering the positive momentum indicators and earnings outlook, ALGM is positioned as a promising investment opportunity with a Momentum Score of B [12]