Movement Alert|Allegro MicroSystems, Inc. Overnight Fall 5.18%, Post-Earnings Profit-Taking Pressures Shares

Market Focus
Oct 30

On October 30, Allegro MicroSystems, Inc. fell 5.18% Overnight, trading at $31.32 per share, with turnover of $30.4 thousand.

The move followed continued pressure after the company released quarterly results, as short-term profit-taking persisted despite earnings and next-quarter guidance topping market expectations.

For fiscal second quarter, adjusted diluted EPS was $0.26, up from $0.13 a year earlier and above the $0.25 consensus. Revenue rose to $276.9 million from $214.3 million, also ahead of the $270.9 million expectation. For fiscal third quarter, the company guided adjusted EPS to $0.25-$0.29 and revenue to $278 million-$288 million, compared with market expectations of $0.27 and $276.7 million. The latest price action indicates that strong reported figures were outweighed by post-results profit-taking in the near term.

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