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Allegro MicroSystems, Inc. - $ALGM STOCK NEWS

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.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Allegro MicroSystems's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Allegro MicroSystems's position in the market.

News
Allegro MicroSystems Reports Second Quarter 2024 Results
Rhea-AI Summary
Allegro MicroSystems, Inc. (Nasdaq:ALGM) announced its financial results for the second quarter, ending September 29, 2023. Net sales increased by 16% year-over-year, with automotive sales leading the growth at 31% year-over-year. E-Mobility applications accounted for 50% of automotive sales, growing nearly 60% year-over-year. GAAP and non-GAAP EPS increased by 31% and 29% respectively. The company expects net sales for the third quarter to be in the range of $250 million to $260 million.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.19%
Tags
earnings
-
News
Allegro MicroSystems Completes Acquisition of Crocus Technology to Accelerate Innovation in TMR Sensing Technology
Rhea-AI Summary
Allegro MicroSystems, Inc. has completed the acquisition of Crocus Technology for $420 million in cash. This acquisition strengthens Allegro's position in the magnetic sensing market and accelerates its TMR roadmap. The acquisition was funded by cash on hand and a new seven-year $250 million senior secured term loan.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.77%
Tags
acquisition
-
News
Allegro MicroSystems Appoints Mary Puma to its Board of Directors
Rhea-AI Summary
Allegro MicroSystems appoints Mary G. Puma to its Board of Directors to fill the vacancy left by Dr. Reza Kazerounian's retirement.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.2%
Tags
management
News
Allegro MicroSystems and BMW Group Collaborate on High-Efficiency Traction Inverters For Battery Electric Vehicles
Rhea-AI Summary
Allegro MicroSystems selected as sole Current Sensor IC supplier for BMW Group's electric vehicles
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2%
Tags
none
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News
Allegro MicroSystems to Announce Second Quarter Fiscal Year 2024 Financial Results
Rhea-AI Summary
Allegro MicroSystems plans to release financial results for Q2 FY2024 on November 2, 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.94%
Tags
earnings
-
News
Crocus Technology Acquired by Allegro MicroSystems to Accelerate Innovation in TMR Sensing Technology
Rhea-AI Summary
ALGM - Allegro MicroSystems announces the acquisition of Crocus Technology for $420 million in cash, aiming to tap into the fast-growing Tunnel Magnetoresistance (TMR) technology market expected to reach $1 billion by 2030. The acquisition is aligned with Allegro's focus on e-mobility, clean energy, and automation, aiming to offer a broader product portfolio to its customers.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.67%
Tags
acquisition
News
Allegro MicroSystems to Acquire Crocus Technology to Accelerate Innovation in TMR Sensing Technology
Rhea-AI Summary
Allegro MicroSystems, Inc. (ALGM) announces acquisition of Crocus Technology, a leader in Tunnel Magnetoresistance (TMR) sensor technology, for $420 million in cash. TMR is expected to approach a $1 billion market by 2030, with a 30% CAGR driven by e-Mobility, Clean Energy, and Automation applications.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.67%
Tags
acquisition
-
News
Allegro MicroSystems Reports First Quarter 2024 Results
Rhea-AI Summary
ALGM - Allegro MicroSystems, Inc. Announces Record Net Sales and Earnings Growth, with GAAP Diluted EPS up by 520% and Non-GAAP Diluted EPS up by 63%. Strategic Growth Areas Increased by 63% Year-over-Year. First quarter sales reached $278 million, marking a new milestone in the company's financial performance.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-12.34%
Tags
earnings
-
News
Allegro MicroSystems to Announce First Quarter Fiscal Year 2024 Financial Results
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.16%
Tags
earnings
News
Allegro MicroSystems Introduces New Isolated Gate Driver IC to Enable Leading Power Conversion Density
Rhea-AI Summary
Allegro MicroSystems has announced the launch of its new Power-Thru isolated gate driver, which delivers 2× the power density with a simpler and more efficient system design. The gate driver drives GaN FETs with up to a 50% smaller footprint and a 40% efficiency improvement compared to competitor offerings. It eliminates the need for a separate isolated power supply and reduces EMI pathways, resulting in faster time to market, efficiency gains, and production cost savings.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.16%
Tags
none
Stock ALGM logo
Allegro MicroSystems, Inc.

Nasdaq:ALGM

ALGM Rankings

#1120 Ranked by Market Cap
#1339 Ranked by Stock Gains
N/A Ranked by Dividends

ALGM Stock Data

5.79B
79.16M
52.29%
50.75%
4.16%
Semiconductor and Related Device Manufacturing
Manufacturing
Link
United States of America
MANCHESTER

About ALGM

allegro microsystems, llc is a leader in developing, manufacturing and marketing high-performance semiconductors. allegro's innovative solutions serve high-growth applications within the automotive market, with additional focus on office automation, industrial, and consumer/communications solutions. allegro is headquartered in worcester, massachusetts (usa) with design, applications, and sales support centers located worldwide.