US stock futures steady after Wall St soars on dovish Powell; Nvidia earnings due
Allegro (WA:ALEP) Microsystems Inc. stock reached a 52-week high, touching $33.35, showcasing the company’s robust performance over the past year. The semiconductor company, now valued at $6.08 billion, has delivered an impressive 50.66% return year-to-date. According to InvestingPro analysis, technical indicators suggest the stock is in overbought territory. This milestone reflects a 16.85% increase in the stock’s value over the past 12 months, indicating strong investor confidence and positive market sentiment towards the company’s operations and future prospects. With a beta of 1.67, the stock shows higher volatility than the market average. The achievement of this price level underscores Allegro Microsystems’ successful strategies and market positioning, as it continues to capitalize on opportunities in the semiconductor industry. InvestingPro’s Fair Value analysis suggests the stock may be overvalued at current levels, with 14+ additional exclusive insights available to subscribers.
In other recent news, Allegro MicroSystems reported impressive fourth-quarter earnings results, exceeding analyst expectations. The company posted adjusted earnings per share of $0.06, surpassing the anticipated $0.05, while revenue reached $192.82 million, exceeding the forecast of $185.36 million. Despite a 19.9% decline compared to the same quarter last year, Allegro remains optimistic with strong guidance for the first quarter of fiscal 2026. The company expects revenue between $192 million and $202 million, with an adjusted EPS range of $0.06 to $0.10, both above analyst projections. Allegro’s automotive segment, which comprises approximately 73% of total revenue, saw an 8.3% sequential increase in sales, while its industrial and other revenue rose 8.7%.
Additionally, BofA Securities resumed coverage of Allegro with a Buy rating, setting a price target of $38.00. The firm highlighted Allegro’s leadership in magnetic sensors for electric vehicles and advanced driver assistance systems. BofA projects a 13% sales compound annual growth rate and a 46% profit-EPS growth rate from 2024 through 2027. These expectations are notably higher than industry peers, supporting BofA’s positive outlook for Allegro. The company’s focus on strategic growth areas and operating efficiencies continues to resonate with investors as it navigates the semiconductor market.
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