Allegro Microsystems, Inc. Stock Price, News & Analysis

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.

Allegro MicroSystems announced the sale of its manufacturing facility in Thailand for approximately $30 million as part of its back-end operations transformation. The sale marks a significant step in Allegro's transition to a fabless manufacturing model aimed at optimizing its manufacturing footprint and enhancing gross margins. The company successfully transferred production to its Manila facility ahead of schedule. However, Allegro anticipates a one-time GAAP non-cash impairment charge of $7-$9 million due to the sale, but this will be excluded from non-GAAP financial measures.

Allegro MicroSystems announced a public offering of 17,500,000 shares of common stock, priced at $30.30 each, to be sold by certain stockholders. An additional 2,625,000 shares may be purchased by underwriters. The offering is expected to close on February 9, 2021. No proceeds will go to Allegro, as all net proceeds will be received by the selling stockholders. Barclays, Credit Suisse, and Wells Fargo Securities are the joint lead managers for this offering. A registration statement was declared effective on February 4, 2021.

Allegro MicroSystems (Nasdaq: ALGM) has rescheduled its earnings conference call for the third quarter fiscal year 2021 to February 2, 2021, at 5 p.m. ET. The dial-in information remains unchanged, allowing analysts and investors to participate effectively. The call will be accessible via conference call and live webcast, with archived access available on the investor relations page. Allegro MicroSystems specializes in integrated circuits for automotive and industrial applications, focusing on electrification and automation technologies.

Allegro MicroSystems will release its third quarter fiscal year 2021 financial results on February 2, 2021, before market opening. A conference call will follow at 8:30AM EST where executives, including President Ravi Vig, will discuss the results and outlook. Analysts and investors can join via a dial-in or live webcast. The archived webcast will also be available on the company's investor relations page.

Allegro MicroSystems (NASDAQ: ALGM) announced that President & CEO Ravi Vig will participate in a Fireside Chat at the 23rd Annual Needham Virtual Growth Conference on January 13, 2021, at 10:45 a.m. Eastern Time. The event will be accessible via a live webcast on the Investor Relations section of Allegro’s website, where an archived replay will also be available post-event. Allegro is a leader in sensor integrated circuits and power ICs, contributing to advancements in automotive, industrial markets, and green energy solutions.