Allegro Microsystems, Inc. Stock Price, News & Analysis

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.

Allegro MicroSystems has appointed Mike Doogue as its first Chief Technology Officer (CTO), bringing 25 years of leadership experience to the role. Beginning his journey with the company in 1998, Doogue has been integral to its engineering and business evolution. The appointment is aimed at enhancing Allegro's technology vision amid critical growth opportunities in sectors such as E-Mobility, Clean Energy, and Data Centers. Additionally, Suman Narayan has been promoted to Senior Vice President of Products, tasked with driving growth in sensor and power portfolios.

MANCHESTER, N.H., Aug. 16, 2022 – Allegro MicroSystems, a leader in sensing and power semiconductor technology, announced participation in two upcoming investor conferences. The Needham Virtual Semiconductor and SemiCap 1x1 Conference will take place on August 24, 2022, with management hosting conference calls. Additionally, the Jefferies Semiconductors Summit is set for August 30, 2022, in Chicago, IL, featuring in-person meetings. Allegro specializes in integrated circuits for automotive and industrial applications, supporting advancements in electrification and automation technologies.

Allegro MicroSystems (Nasdaq:ALGM) reported record financial results for Q1 2023, achieving net sales of $217.8 million, a 16% increase year-over-year. Automotive sales reached $149.6 million, up 12%, while industrial sales soared 32% to $40.1 million. GAAP diluted EPS was $0.05, with non-GAAP EPS at $0.24, reflecting a 33% year-over-year growth. Allegro announced plans to acquire Heyday Integrated Circuits, enhancing its capabilities in high-efficiency power applications and raising its fiscal 2023 growth outlook to 20%.

Allegro MicroSystems (Nasdaq: ALGM) has announced a new distribution partnership with Mouser Electronics. This collaboration expands Allegro's global distribution network, enabling a wider range of customers to access their products. Mouser will offer Allegro's current sensors, position and speed sensors, and power management ICs on its website. This partnership enhances Allegro's commitment to customer diversity and provides engineers with easier access to energy-efficient solutions.

Allegro MicroSystems (Nasdaq: ALGM) will release its first quarter fiscal year 2023 financial results on July 28, 2022, before market opening. Following the release, a conference call will be held at 8:30 a.m. EDT, featuring Vineet Nargolwala, President and CEO, and Derek D’Antilio, CFO. Investors can join via a live webcast or by registering for a dial-in number. Allegro MicroSystems specializes in sensor integrated circuits and application-specific analog power ICs for automotive and industrial markets, contributing to technologies in electrification and automation.