By Mill Chart
Last update: Dec 1, 2023
For growth-minded investors, high revenue and EPS growth are key criteria. Today, we'll examine whether ALLEGRO MICROSYSTEMS INC (NASDAQ:ALGM) fits the bill for growth investing, particularly as it forms a base and hints at a potential breakout. Remember, due diligence is essential, but ALLEGRO MICROSYSTEMS INC has caught our attention on our screen for growth with base formation. It may warrant additional investigation.
ChartMill assigns a proprietary Growth Rating to each stock. The score is computed by evaluating various growth aspects, like EPS and revenue growth. We take into account the history as well as the estimated future numbers. NASDAQ:ALGM was assigned a score of 8 for growth:
ChartMill employs a unique Health Rating system for all stocks. This rating, ranging from 0 to 10, is determined by analyzing various liquidity and solvency ratios. For NASDAQ:ALGM, the assigned 8 for health provides valuable insights:
ChartMill assigns a Profitability Rating to every stock. This score ranges from 0 to 10 and evaluates the different profitability ratios and margins, both absolutely, but also relative to the industry peers. NASDAQ:ALGM scores a 8 out of 10:
Next to the Technical Rating, the Setup Rating of a stock determines to which extend the stock is consolidating. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. For NASDAQ:ALGM this score is currently 7:
ALGM has a bad technical rating, but it does show a decent setup pattern. Prices have been consolidating lately. There is a support zone below the current price at 26.12, a Stop Loss order could be placed below this zone.
More Strong Growth stocks can be found in our Strong Growth screener.
Check the latest full fundamental report of ALGM for a complete fundamental analysis.
Check the latest full technical report of ALGM for a complete technical analysis.
This article should in no way be interpreted as advice in any way. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.
ALLEGRO MICROSYSTEMS INC
NASDAQ:ALGM (2/21/2024, 7:25:20 PM)Premarket: 32.17 +1.12 (+3.61%)
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