Allegro Microsystems, Inc. Stock Price, News & Analysis

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.

Allegro MicroSystems (Nasdaq: ALGM) has launched two new magnetic position sensors, A33110 and A33115, at the Sensors Converge Conference in San Jose, CA. These sensors integrate vertical Hall and TMR technologies, delivering enhanced accuracy and safety for advanced driver assistance systems (ADAS). The A33110 and A33115 cater to the needs of automated vehicles by providing up to eight times greater sensitivity compared to standard sensors. Both products are ASIL D-compliant, enabling comprehensive safety checks, and highlight Allegro’s commitment to innovation in the automotive sensor market.

Allegro MicroSystems announces the acquisition of Heyday Integrated Circuits for approximately $19 million. This acquisition is aimed at enhancing Allegro’s offerings in energy-efficient solutions, particularly in electric vehicles, solar power, and charging infrastructure. Heyday specializes in isolated gate drivers that integrate multiple components in a compact design. This deal is projected to expand Allegro’s market by an estimated $2.7 billion within high-growth sectors.

The acquisition is expected to close in Q3 2022, pending regulatory approvals.

Allegro MicroSystems (NASDAQ: ALGM) announced that CEO Ravi Vig and CFO Derek D’Antilio will present at the Cowen 50th Annual Technology, Media & Telecom Conference on June 1, 2022, at 3:20 PM ET in New York City. The event will showcase Allegro's advancements in sensing and power semiconductor technology for automotive and industrial markets. Investors can access the webcast at this link and find archived presentations on the company's Investor Relations page.

Allegro MicroSystems (Nasdaq: ALGM) announced the launch of two new sensorless BLDC gate drivers, A89332 and A89332-1, on May 25, 2022. These devices aim to enhance thermal efficiency in data centers, helping to reduce energy consumption and operational costs. Key innovations include an integrated power loss brake, which prevents reverse fan rotation and optimizes power usage. The new drivers are compact, with a 4mm x 4mm QFN package, and are positioned as industry-leading solutions designed to simplify server cooling systems while improving reliability and time-to-market for manufacturers.

Allegro MicroSystems (Nasdaq: ALGM) has launched two innovative full-bridge gate drivers, A89505 and A89506, designed for automotive and industrial use. These drivers replace mechanical relays with solid-state solutions, enhancing performance and reliability while minimizing design footprint. Capable of operating at a maximum of 50V, they include built-in current sensing and diagnostics, significantly reducing the need for external components. These advancements cater to applications such as electric vehicle components and robotics, promoting battery efficiency and reliability in compact designs.