Investing.com | Author Davit Kirakosyan
Editor Thomas Monteiro
Published Dec 06, 2023 02:35AM ET
In the decade spanning from 2013 to now, tech stocks have led the pack in terms of delivering returns to investors, helping push the broader market towards a series of all-time highs with double- and sometimes even triple-digit yearly gains.
During this period, being heavily invested in growth has been the fastest route towards building wealth in the stock market. However, those who navigated the pandemic-induced crash of 2020 and the bear market of 2022 are well aware that indiscriminate investment in such stocks does not always ensure success.
That's why finding the top tech stocks in the market is one of the greatest keys to success - particularly as the market expects the Fed to start lowering interest rates.
But amidst the cacophony generated by a multitude of news and data, how does one skillfully navigate through it all?
And this is where our flagship Tech Titans Strategy can prove a game-changer.
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Allegro Microsystems (NASDAQ:ALGM) designs, develops, manufactures, and markets sensor integrated circuits (ICs) and application-specific analog power ICs for motion control and energy-efficient systems.
The company sells its products to original equipment manufacturers and suppliers primarily in the automotive and industrial markets through its direct sales force, third-party distributors, independent sales representatives, and consignment.
Shares are up 18.6% in the past month and up 1.7% year to date.
According to analysts surveyed by InvestingPro, Allegro MicroSystems is Fairly Valued with 18.4% Upside.
Most recently, in February, Wolfe Research upgraded Allegro MicroSystems from Peerperform to Outperform with a price target of $35.00.
Earlier this month, Allegro MicroSystems reported Q3 earnings of $0.32 per share on revenue of $254.98 million. Analysts were looking for $0.29 earnings on revenue of $254.95M.
Photronics (NASDAQ:PLAB) specializes in the manufacture and sale of photomask products and services. Photomasks, integral in the production of integrated circuits and flat panel displays (FPDs), are essential tools used to transfer circuit patterns onto semiconductor wafers, FPD substrates, and a variety of electrical and optical components.
Shares are up 6.8% in the past month and down 0.4% year to date.
According to analysts surveyed by InvestingPro, Photronics is Fairly Valued with 2.5% Upside.
Earlier today, Photronics reported Q1 earnings of $0.48 per share on revenue of $216.33M. Analysts were looking for $0.49 earnings on revenue of $220M.
The company also provided its guidance for Q2/24, expecting EPS of $0.50-$0.58, versus the consensus of $0.56, and revenue of $226-236M, versus the consensus of $230M.
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Written By: Investing.com
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