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Allegro Microsystems Stock Sees Composite Rating Improve To 96

On Wednesday, Allegro Microsystems (ALGM) got an upgrade for its IBD SmartSelect Composite Rating from 93 to 96.




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The revised score means the stock currently tops 96% of all other stocks in terms of key performance metrics and technical strength. The market’s biggest winners often have a 95 or higher rating in the early stages of a new price run, so that’s a good starting point when looking for the best stocks to buy and watch.

Allegro Microsystems stock is currently forming a consolidation, with a 36.95 buy point. See if the stock can break out in volume at least 40% higher than normal.


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Earnings Report For Allegro Microsystems Stock:

One weak spot is the company’s 68 EPS Rating, which tracks quarterly and annual earnings-per-share growth. Look for that to improve to 80 or better to show it’s in the top 20% of all stocks. It does have growing sales over the prior two quarters.

Its Accumulation/Distribution Rating of B- shows moderate buying by institutional investors over the last 13 weeks.

The company posted a 122% earnings-per-share gain for Q2. Top line growth fell to 42%, down from 64% in the previous quarter.

Allegro Microsystems stock holds the No. 11 rank among its peers in the Electronics-Semiconductor Manufacturing industry group. Diodes (DIOD), ON Semiconductor (ON) and United Microelectronics (UMC) are among the top 5 highly-rated stocks within the group.

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