Allegro Microsystems (ALGM, Financial) reported fiscal fourth-quarter revenue of $192.824 million, surpassing market expectations of $185.36 million. The company's sales increased by 8% from the previous quarter. Non-GAAP earnings per share stood at $0.06. Despite a dynamic business environment, Allegro's leadership is optimistic due to the positive trends observed across its operations and customer interactions.
The company is actively pursuing growth in key strategic areas, aiming to secure significant customer engagements and enhance operational efficiencies to boost profitability. As CEO, Mike Doogue is focused on using his extensive experience to steer Allegro towards achieving its financial goals and increasing shareholder value.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 11 analysts, the average target price for Allegro Microsystems Inc (ALGM, Financial) is $27.53 with a high estimate of $35.00 and a low estimate of $22.00. The average target implies an upside of 47.28% from the current price of $18.69. More detailed estimate data can be found on the Allegro Microsystems Inc (ALGM) Forecast page.
Based on the consensus recommendation from 11 brokerage firms, Allegro Microsystems Inc's (ALGM, Financial) average brokerage recommendation is currently 1.9, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Allegro Microsystems Inc (ALGM, Financial) in one year is $26.56, suggesting a upside of 42.11% from the current price of $18.69. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Allegro Microsystems Inc (ALGM) Summary page.
