- Allegro MicroSystems (ALGM, Financial) stock surged 12% post-earnings announcement.
- Fourth-quarter EPS and revenue exceeded expectations.
- Analysts see a positive outlook with significant upside potential.
Investors in Allegro MicroSystems (ALGM) witnessed a gratifying 12% boost in stock value following the company's impressive fourth-quarter results. Allegro MicroSystems reported non-GAAP earnings per share of $0.06, which outpaced expectations by $0.01. Additionally, the company achieved revenues of $192.8 million, surpassing forecasts by $7.44 million.
Optimistic Wall Street Forecasts
Wall Street analysts have expressed a favorable outlook for Allegro Microsystems Inc (ALGM, Financial). The average one-year price target from 11 analysts stands at $27.53, with projections ranging from a bullish high of $35.00 to a more conservative low of $22.00. This average target price suggests a potential upside of 31.33% from the current stock price of $20.96. For more detailed projections, visit the Allegro Microsystems Inc (ALGM) Forecast page.
Brokerage Recommendations
The consensus among 11 brokerage firms is an average recommendation rating of 1.9 for Allegro Microsystems Inc (ALGM, Financial), signifying an "Outperform" status. This rating system ranges from 1, indicating a Strong Buy, to 5, indicating a Sell.
GuruFocus Valuation Insights
According to GuruFocus' proprietary analysis, the estimated GF Value for Allegro Microsystems Inc (ALGM, Financial) over the next year is projected to be $26.56. This suggests a potential upside of 26.72% from the current price of $20.96. The GF Value metric represents GuruFocus' estimate of a stock's fair value, derived from historical trading multiples, past business growth, and future performance forecasts. For a more comprehensive analysis, consult the Allegro Microsystems Inc (ALGM) Summary page.
