) develops sensing and power semiconductor solutions for motion control and energy-efficient systems. On Tuesday, the company held its inaugural analyst day to provide insights into its strategy and technology.noted that at the event, management focused on the rapidly growing opportunities across two "secular megatrends" – electrification and industrial automation.
Bolton thinks that his margin estimates for fiscal 2024 and 2025 seem conservative, given Allegro's new long-term model that targets a gross margin of more than 58% and an operating margin of over 32%. He highlighted that the company's e-mobility serviceable available market is expected to grow at a 25% compound annual growth rate to $3.9 billion by fiscal 2028.
"ALGM's portfolio is aligned with the industrial secular growth trends in clean energy and automation," said Bolton. Allegro expects its clean energy and automation SAM to grow at an 18% CAGR to $3.5 billion by fiscal 2028. Impressed by Allegro's growth prospects, Bolton raised his price target to $50 from $42 and reaffirmed a buy rating. Remarkably, Bolton ranks 2out of more than 8,000 analysts followed on TipRanks. His ratings have been profitable 67% of the time, generating a 36.3% average return.
Wall Street publish false analysis so they bet against retail investors by doing the opposite. Easy win $$$
Wall Street analysts got a mixed track record! Do your homework before trusting their opinion.
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