Allegro MicroSystems Down 30% YTD: How Should You Play the Stock?
ALGMAllegro MicroSystems(ALGM) ZACKS·2024-09-14 04:11

Allegro MicroSystems (ALGM) shares have declined 30.2% year to date (YTD), underperforming the Zacks Electronics - Semiconductors industry’s return of 20.4% and the Zacks Computer and Technology sector’s appreciation of 17.6%.ALGM’s shares have been suffering from lower consumer demand in the industrial and automotive end markets along with stiff competition and a challenging macroeconomic environment.However, its continued efforts to rebalance inventory across the end markets coupled with an expanding port ...