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 (ALGM) will announce its financial results for Q2 fiscal year 2021 on November 19, 2020, before market opening. Following the release, a conference call will be held at 8:30 AM EST featuring CEO Ravi Vig and CFO Paul Walsh discussing the results. Investors can join the call via dial-in or through a live webcast. Allegro specializes in sensor integrated circuits and analog power ICs, catering to automotive, industrial, and green energy sectors.
Allegro MicroSystems has appointed Christine King to its Board of Directors and Audit Committee, effective October 28, 2020. King, a seasoned executive with extensive semiconductor industry experience, previously led Standard Microsystems and AMI Semiconductor, both of which were acquired by larger firms. Her background includes significant roles at IBM, enhancing Allegro's potential for growth. Allegro specializes in sensor integrated circuits and power semiconductor technologies, targeting the automotive and industrial markets.
On November 3, 2020, One Equity Partners announced that its portfolio company, Allegro MicroSystems, completed its initial public offering (IPO) of 25,000,000 shares priced at $14 each, raising $350 million in gross proceeds. Trading under the ticker symbol ALGM, Allegro achieved a market capitalization exceeding $3.7 billion. The company specializes in sensing and power semiconductor technology, serving over 10,000 customers globally, including more than 50 automotive OEMs.
Allegro MicroSystems announced the closure of its initial public offering (IPO) on Nov. 2, 2020, issuing 28,750,000 shares at $14.00 each. This includes an additional 3,750,000 shares purchased by underwriters. Allegro netted approximately $320.8 million after expenses, planning to use part of the proceeds to repay term loan borrowings and for general corporate purposes. The shares trade on Nasdaq under the symbol ALGM.