Allegro Microsystems, Inc. Stock Price, News & Analysis

Allegro MicroSystems has finalized the sale of its manufacturing facility in Thailand (AMTC) to Innolight Technology (Thailand) for approximately $27 million USD. This move is part of Allegro's strategy to streamline back-end operations and enhance gross margin. The company is consolidating integrated circuit assembly and testing into a single site, aiming for a fabless operational model, which also emphasizes sustainability through reduced energy consumption and waste. The transaction aligns with Allegro's multi-year plan to optimize its manufacturing footprint and reduce fixed costs.

Allegro MicroSystems, Inc. (ALGM) reported strong financial results for Q1 FY2022, ending June 25, 2021, with net sales of $188.1 million, a 7% sequential increase and 64% year-over-year growth. Automotive sales reached a record $133.5 million, surging 75% year-over-year. GAAP gross margin was at 50.0%, while non-GAAP gross margin hit 52.2%. Earnings per share (EPS) also exceeded expectations, with GAAP EPS at $0.14 and non-GAAP EPS at $0.18. The outlook for Q2 anticipates net sales between $185 million and $191 million.

Allegro MicroSystems (Nasdaq: ALGM) will release its financial results for Q1 FY 2022 on July 29, 2021, before market opening. CEO Ravi Vig and CFO Paul Walsh will discuss the results and outlook at 8:00 AM EDT in a conference call. Analysts and investors can join by dialing 1-833-665-0677 in the U.S. or 1-929-517-0172 internationally, using Conference ID 6186676. An archived webcast will be available on Allegro's investor relations page.

Allegro MicroSystems, Inc. (ALGM) has launched the ATS19480 speed sensor, featuring advanced giant magnetoresistance (GMR) technology for measuring rotation in electric vehicle transmissions and industrial applications. This sensor boasts an industry-leading air gap and enhanced design flexibility, contributing to improved efficiency, reduced size, and minimized carbon footprint. It represents a significant advancement in sensor technology, surpassing competitors in performance and accuracy. The ATS19480 is available in a lead-free package, with pricing details accessible through Allegro sales offices.

Allegro MicroSystems has appointed David J. Aldrich to its board of directors and Audit Committee, marking a strategic move for the company amid growing opportunities in the semiconductor industry. Aldrich, with over 25 years of experience, previously headed Skyworks Solutions and holds significant expertise in enhancing shareholder value. His appointment is anticipated to bolster Allegro's growth and operational strategies, especially in automotive and industrial sectors.

Allegro MicroSystems announced the launch of the A31315 sensor, designed for automotive applications requiring safety-critical performance. This sensor offers 3D sensing capabilities, enhanced accuracy, and aligns with stringent ASIL-D safety standards. It aids in advanced driver assistance systems (ADAS) and features a robust, compact design for both rotary and linear position measurements. The release emphasizes Allegro's commitment to advancing automotive technology and supporting the growing demand for autonomous vehicles.

Allegro MicroSystems (NASDAQ: ALGM) announced that President & CEO Ravi Vig and CFO Paul Walsh will present virtually at two upcoming investor conferences. The events include the 3rd Annual Mizuho Auto Technology Seminar on May 19, 2021 at 3:30 PM ET, and The Cowen 49th Annual Technology, Media & Telecom Conference on June 3, 2021 at 4:30 PM ET. Investors can access the webcast via Allegro’s Investor Relations page, where archived presentations will also be available.

Allegro specializes in sensor integrated circuits and analog power ICs, catering to automotive and industrial markets.

Allegro MicroSystems (ALGM) reported record fourth quarter net sales of $175.1 million, marking a 6.5% increase sequentially, with fiscal year total net sales reaching $591.2 million. Both gross margin and operating income improved, leading to significant earnings growth with GAAP EPS at $0.05 and non-GAAP EPS at $0.15. Automotive net sales increased by 12.3% and industrial net sales surged 30.7% year-over-year. The company anticipates first fiscal quarter net sales between $176 million and $179 million.

Allegro MicroSystems (ALGM) will release its financial results for Q4 and FY 2021 before market opening on May 5, 2021. A conference call will follow at 8:30 AM EDT, featuring CEO Ravi Vig and CFO Paul Walsh discussing the results and future outlook. Investors can join via dial-in or webcast. Allegro specializes in designing and manufacturing sensor integrated circuits and analog power ICs for automotive and industrial applications, addressing electrification, safety features, and energy efficiency.