Allegro MicroSystems ( (ALGM) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Allegro MicroSystems’ stock has been on the move after the company reported better-than-expected third-quarter revenue of $177.872 million, beating the consensus estimate of $176.34 million. Additionally, the non-GAAP EPS of $0.07 surpassed the midpoint of guidance. The introduction of new magnetic sensing and power products, along with plans for a $375 million debt refinancing and the launch of new current sensor ICs, has strengthened the company’s market position and led to an increase in its price target. The company is also projecting strong sales for the fourth quarter of fiscal year 2025, ranging from $180 million to $190 million, which supports a positive outlook.
More about Allegro MicroSystems
YTD Price Performance: 0.18%
Average Trading Volume: 2,084,661
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $4.08B
For further insights into ALGM stock on TipRanks’ Stock Analysis page.
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