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 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.
Allegro MicroSystems announces the retirement of CFO Paul Walsh after seven years of service, effective February 4, 2022. He is succeeded by Derek D’Antilio, who brings over 20 years of financial experience in the semiconductor sector. D’Antilio has a strong background in corporate finance and M&A, previously serving as CFO at IDEX Biometrics, where he played a key role in a successful Nasdaq listing. CEO Ravi Vig expressed confidence in D’Antilio’s ability to continue Allegro’s financial strategies and drive growth.
Allegro MicroSystems (NASDAQ: ALGM) will have its President & CEO, Ravi Vig, and CFO, Paul Walsh, present at the 24th Annual Needham Virtual Growth Conference on January 12, 2022, at 10:45 AM ET. Investors can access the live webcast through the Investor Relations section of Allegro's website, with an archived replay available post-event. The company is a leader in sensor ICs and analog power ICs, focusing on automotive and industrial sectors, including electrification solutions and ADAS safety features.
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.