Allegro Microsystems, Inc. Stock Price, News & Analysis

Allegro MicroSystems announces the appointment of Sharon Briansky as Senior Vice President, General Counsel, and Corporate Secretary, effective immediately. She succeeds Chris Brown, who departs at the end of the year for another opportunity. Briansky joins from Thermo Fisher Scientific, bringing over two decades of legal experience, including corporate governance and compliance. CEO Ravi Vig expressed confidence in her ability to support Allegro's growth and innovation. Allegro is a leader in sensor integrated circuits and power ICs, driving advancements in automotive and industrial technologies.

Allegro MicroSystems (NASDAQ: ALGM) announced its participation in several investor conferences, showcasing its leadership in semiconductor technology. CFO Paul Walsh will attend the Credit Suisse 25th Annual Technology Conference on November 30, 2021, in Scottsdale, Arizona. CEO Ravi Vig and Walsh will present virtually at the Wells Fargo 5th Annual TMT Summit on December 1, 2021, at 10:00 AM ET, and attend the Barclays Global TMT Conference on December 7, 2021. Webcast details are available on Allegro's website, with archived presentations post-event.

Allegro MicroSystems has appointed Susan Lynch to its Board of Directors and Audit Committee, effective immediately, replacing Christine King, who has completed her term. This leadership change comes after Allegro’s first year as a public entity, with King expressing gratitude for her tenure and optimism about the company's future. Lynch brings over 25 years of financial expertise from senior roles in technology and manufacturing, most recently as CFO of Vectrus. The board anticipates Lynch's contributions will enhance stockholder value as Allegro continues to grow in key markets like electric vehicles and green energy.

Allegro MicroSystems (Nasdaq: ALGM) has launched two innovative ICs, A80803 and A80804. These chips enhance automotive lighting for ADAS applications, improving safety and reducing costs by streamlining IC usage.

Vehicle lighting is critical for safety, significantly reducing nighttime crash risks. The A80803 and A80804 focus on high-performance LED control, offering features like multi-topology transitions and multiple PWM dimming methods.

Allegro MicroSystems, Inc. (Nasdaq: ALGM) announced a secondary offering of 7,000,000 shares of common stock by OEP SKNA, L.P., an affiliate of One Equity Partners. This offering consists solely of secondary shares, with Allegro receiving no proceeds. The underwriter, Barclays, has a 30-day option to purchase an additional 1,050,000 shares. The offering is made under an effective shelf registration with the SEC, and all transactions will occur at market prices or negotiated prices.

Allegro MicroSystems (ALGM) reported a record quarterly revenue of $193.6 million for Q2 of fiscal 2022, up 42% year-over-year. Strong sales in the automotive sector reached $126 million, a 41% increase, while industrial sales soared 68% to $36.3 million. GAAP earnings per share rose to $0.17. Despite facing COVID-related supply chain challenges, Allegro expects a revenue growth of 28% for fiscal 2022 and aims for low to mid-teens growth for fiscal 2023. The company cites robust demand and a healthy backlog as key growth drivers.

Allegro MicroSystems has expanded its QuietMotion™ product line with the A89307, an automotive-qualified gate driver IC designed for battery cooling fans and HVAC systems in electric and hybrid vehicles. This device employs a Field Oriented Control algorithm for ultra-low noise operation, enhancing vehicle efficiency by improving battery life and mitigating environmental impact. The A89307 simplifies design processes and reduces component costs, supporting sustainable automotive innovation.