Welcome to our dedicated page for Allegro Microsystems news (Ticker: ALGM), a resource for investors and traders seeking the latest updates and insights on Allegro Microsystems stock.
Allegro MicroSystems develops power and sensing semiconductor solutions for motion control and energy-efficient systems, including magnetic sensing devices, sensor ICs and application-specific analog power ICs used in automotive, clean energy, industrial automation, AI data center and robotics applications.
Recurring news for ALGM covers quarterly and fiscal-year results, business outlook, product launches and portfolio expansions. Company updates include Hall-effect and TMR current sensors such as ACS37017, ACS37100 and ACS37200, Power-Thru isolated SiC gate drivers, term-loan financing actions, leadership appointments, analyst-day materials and strategy discussions tied to electrification, automation and high-voltage power conversion.
Allegro MicroSystems (Nasdaq: ALGM) has launched two innovative full-bridge gate drivers, A89505 and A89506, designed for automotive and industrial use. These drivers replace mechanical relays with solid-state solutions, enhancing performance and reliability while minimizing design footprint. Capable of operating at a maximum of 50V, they include built-in current sensing and diagnostics, significantly reducing the need for external components. These advancements cater to applications such as electric vehicle components and robotics, promoting battery efficiency and reliability in compact designs.
Allegro MicroSystems announces the retirement of CEO Ravi Vig, effective June 13, 2022, after nearly 38 years. He played a key role in the company's strategic transformation and record fiscal year 2022 growth of 30% in net sales. Vineet Nargolwala has been appointed as the new President and CEO, bringing 25 years of leadership experience from Sensata Technologies and Honeywell. Nargolwala aims to capitalize on growth opportunities in electrification and autonomous vehicles, emphasizing innovation in semiconductor technology.
Allegro MicroSystems (ALGM) reported record revenue and profitability for Q4 and FY 2022, with net sales of $200.3 million in Q4, a 14% increase YoY. Automotive sales reached $141.2 million, up 19%, contributing to full-year net sales of $768.7 million, a 30% growth. GAAP diluted EPS rose to $0.62, up 520% YoY. The company expects Q1 2023 sales between $205-$210 million, with non-GAAP EPS guidance of $0.22-$0.23. Allegro cites strong market trends like vehicle electrification and ADAS as key growth drivers.
Allegro MicroSystems (Nasdaq: ALGM) has shipped its three billionth motor driver IC, showcasing the growth of its motion control business. This milestone highlights the demand for high-performance motor drivers in automotive, industrial, and consumer applications. The company's innovations focus on reducing costs and enhancing safety standards. Allegro emphasizes co-development with customers, leading to efficient single-chip solutions. Future motor driver products are set to improve battery life and system costs while adhering to sustainability practices.
Allegro MicroSystems (ALGM) will announce its Q4 and fiscal year 2022 financial results before market opening on May 10, 2022. A conference call will follow at 8:30 AM EDT, featuring insights from CEO Ravi Vig and CFO Derek D’Antilio. Investors can join via dial-in or a live webcast. Allegro specializes in sensor ICs and application-specific analog power ICs for automotive and industrial markets, focusing on electrification, ADAS safety, and automation for Industry 4.0.
Allegro MicroSystems (Nasdaq: ALGM) has launched two new giant magnetoresistance (GMR) sensors, the ATS16951 and ATS16351. These sensors are designed for hybrid vehicle engines, facilitating reduced system complexity and improved energy efficiency. With industry-leading features, including significantly larger air gaps, the sensors enhance performance and enable flexibility in installation, catering to evolving automotive needs.
Allegro MicroSystems (ALGM) reported third-quarter fiscal 2022 net sales of $186.6 million, exceeding guidance and up 13% year-over-year. Automotive sales reached $130.8 million, a 15% increase, while industrial sales rose 35% to $31.9 million. The company achieved record gross margins of 54.2% (GAAP) and 54.8% (non-GAAP), contributing to an earnings per share of $0.17 (GAAP) and $0.19 (non-GAAP). Allegro anticipates fourth-quarter sales between $193 million and $197 million with a strong long-term growth outlook driven by automotive content expansion and design wins.
Allegro MicroSystems (ALGM) will announce its Q3 fiscal year 2022 financial results on February 1, 2022, before market opening. A conference call is scheduled for the same day at 8:30 AM EST, featuring CEO Ravi Vig and CFO Derek D’Antilio discussing results and outlook. Investors can join via dial-in or webcast. Allegro MicroSystems specializes in sensor integrated circuits and application-specific analog power ICs, catering to automotive and industrial sectors, emphasizing technologies for vehicle electrification and automation.
Allegro MicroSystems has launched the A19360 sensor, pivotal for automakers in developing levels 3, 4, and 5 automation in vehicles. This sensor offers enhanced signal resolution crucial for advanced driver assistance systems (ADAS). According to Strategy&, vehicles with higher levels of automation are projected to represent 20% of the European market by 2030. Allegro's sensor is noted for its reliability, compatibility, and technological advancements, including superior wheel rotation data.
Allegro MicroSystems has launched the new A33230 Hall-effect sensor IC, the smallest of its kind in the market. This sensor is tailored for automotive and industrial applications and boasts enhanced high-speed performance with its unique design. The 5-pin SOT23-W package allows for minimal space usage on PCBs, making it ideal for various applications, including robotics and automotive systems. Allegro is committed to providing cost-effective solutions that streamline design processes and reduce BOM costs.