Published on 3 Apr 2024 on Zacks via Yahoo Finance

Allegro MicroSystems, Inc. (ALGM) Outperforms Broader Market: What You Need to Know

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 close eye on the performance of Allegro MicroSystems, Inc. in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.21, indicating a 43.24% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $235 million, indicating a 2.3% decrease compared to the same quarter of the previous year.