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.


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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