Movement Alert|Allegro MicroSystems, Inc. Falls 5.22% in Regular Trading, Post-Earnings Selling Emerges Despite Stronger Guidance

Market Focus
Oct 29

On October 29, Allegro MicroSystems, Inc. fell 5.22% in Regular Trading, trading at $32.795/share, with turnover of $10.2965 million.

The move followed the company’s latest quarterly results: fiscal Q2 adjusted EPS was $0.26 versus $0.13 a year earlier and above the $0.25 consensus, while revenue rose to $276.9 million from $214.3 million and also topped the $270.9 million expectation.

Management also guided fiscal Q3 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. Even with guidance above consensus, the stock came under pressure as short-term investors appeared to lock in gains after the earnings release.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10