Allegro Microsystems, Inc. Stock Price, News & Analysis

MANCHESTER, N.H., Jan. 27, 2023 – Allegro MicroSystems (Nasdaq: ALGM) announced that Polar Semiconductor, its joint venture with Sanken Electric, will receive a $150 million equity investment from One Equity Partners. This funding will enhance Polar's 200 millimeter wafer capacity at its Bloomington, Minnesota facility. Additionally, Polar is seeking U.S. CHIPS Act funding to support its capacity and cost leadership initiatives, crucial for automotive and industrial applications. The transaction is expected to close in the first quarter of Allegro's 2024 fiscal year, ensuring expanded U.S.-based capacity to meet growing customer demand.

Allegro MicroSystems (Nasdaq: ALGM) announced plans to open a new office in Richardson, Texas, focusing on semiconductor integrated chips for electric vehicles.

Set to launch in Spring 2023, the center will create job opportunities and enhance R&D for sensors and power integrated circuits. Allegro aims to triple its local workforce in the coming years, tapping into the area's talent pool.

The move is a part of Allegro's mission for sustainable technology and is supported by the city's vibrant technology sector and proximity to The University of Texas at Dallas.

On January 31, 2023, Allegro MicroSystems (Nasdaq: ALGM) will release its financial results for the third quarter of fiscal 2023 before the market opens. The company will host a conference call at 8:30 a.m. EST, featuring key executives discussing the results and future outlook. Analysts and investors can join via a registration link for dial-in access or through a live webcast. Allegro MicroSystems focuses on designing and manufacturing sensor integrated circuits and analog power ICs, serving automotive and industrial markets with innovative solutions for electrification, ADAS safety, and energy efficiency.

Allegro MicroSystems (Nasdaq: ALGM) will participate in the 25th Annual Needham Growth Conference on January 10, 2023. CEO Vineet Nargolwala and CFO Derek D’Antilio will host a fireside chat at 10:15 a.m. ET and will meet with attendees throughout the day. Portfolio managers and analysts interested in meetings can contact Needham representatives via email. Additionally, a live and archived replay of the fireside chat will be available on Allegro's IR website.

Allegro MicroSystems (Nasdaq: ALGM), a leader in power and sensing semiconductor technology, announced participation in key investor conferences. The Wells Fargo TMT Summit will be held on November 29, 2022, followed by the Credit Suisse Technology Conference on November 30, 2022, and the Barclays Global Technology Conference on December 7, 2022. Management will meet with attendees at these events, offering opportunities for portfolio managers and analysts to engage directly. Allegro specializes in sensor integrated circuits for automotive and industrial markets, focusing on electrification and energy efficiency.

Allegro MicroSystems (Nasdaq: ALGM) has unveiled its new A31316 3D Hall-effect position sensor, part of the 3DMAG™ series. The A31316 is designed for automotive safety and advanced driver assistance systems (ADAS), featuring a compact 4 × 4 mm PCB-less package that enhances flexibility and performance in challenging environments. This sensor integrates the die and capacitors, minimizing the impact of contaminants and vibrations on accuracy. It supports ASIL B safety standards and is suited for both rotary and long-stroke linear applications, maintaining high accuracy across a wide temperature range.

Allegro MicroSystems (Nasdaq:ALGM) reported a record second quarter 2023 with net sales reaching $237.7 million, a 23% increase year-over-year. Automotive sales hit $157.4 million, up 25%, while industrial sales grew 33% to $48.2 million. The company's GAAP gross margin stood at 55.5% and diluted earnings per share was $0.26. The acquisition of Heyday Integrated Circuits was finalized, enhancing Allegro's capabilities. For Q3, Allegro anticipates sales between $240 million and $250 million.

Allegro MicroSystems (ALGM) announced it will release its financial results for the second quarter of fiscal 2023 before the market opens on October 27, 2022. Following the release, the company will host a conference call at 8:30 a.m. EDT to discuss the results and future business outlook. The call will feature CEO Vineet Nargolwala and CFO Derek D'Antilio. Analysts and investors can participate via a live webcast or by registering in advance for dial-in access.

Allegro MicroSystems (Nasdaq: ALGM) has completed the acquisition of Heyday Integrated Circuits, a company specializing in isolated gate drivers for high-voltage semiconductor applications. This strategic move aims to enhance Allegro's product offerings in energy-efficient technologies, particularly targeting electric vehicles, solar inverters, datacenters, and industrial sectors. The merger is expected to expand Allegro's market reach and improve power management solutions.