Allegro Microsystems, Inc. Stock Price, News & Analysis

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.

Allegro MicroSystems announces the retirement of CEO Ravi Vig, effective June 13, 2022, after nearly 38 years. He played a key role in the company's strategic transformation and record fiscal year 2022 growth of 30% in net sales. Vineet Nargolwala has been appointed as the new President and CEO, bringing 25 years of leadership experience from Sensata Technologies and Honeywell. Nargolwala aims to capitalize on growth opportunities in electrification and autonomous vehicles, emphasizing innovation in semiconductor technology.

Allegro MicroSystems (ALGM) reported record revenue and profitability for Q4 and FY 2022, with net sales of $200.3 million in Q4, a 14% increase YoY. Automotive sales reached $141.2 million, up 19%, contributing to full-year net sales of $768.7 million, a 30% growth. GAAP diluted EPS rose to $0.62, up 520% YoY. The company expects Q1 2023 sales between $205-$210 million, with non-GAAP EPS guidance of $0.22-$0.23. Allegro cites strong market trends like vehicle electrification and ADAS as key growth drivers.

Allegro MicroSystems (Nasdaq: ALGM) has shipped its three billionth motor driver IC, showcasing the growth of its motion control business. This milestone highlights the demand for high-performance motor drivers in automotive, industrial, and consumer applications. The company's innovations focus on reducing costs and enhancing safety standards. Allegro emphasizes co-development with customers, leading to efficient single-chip solutions. Future motor driver products are set to improve battery life and system costs while adhering to sustainability practices.

Allegro MicroSystems (ALGM) will announce its Q4 and fiscal year 2022 financial results before market opening on May 10, 2022. A conference call will follow at 8:30 AM EDT, featuring insights from CEO Ravi Vig and CFO Derek D’Antilio. Investors can join via dial-in or a live webcast. Allegro specializes in sensor ICs and application-specific analog power ICs for automotive and industrial markets, focusing on electrification, ADAS safety, and automation for Industry 4.0.

Allegro MicroSystems (Nasdaq: ALGM) has launched two new giant magnetoresistance (GMR) sensors, the ATS16951 and ATS16351. These sensors are designed for hybrid vehicle engines, facilitating reduced system complexity and improved energy efficiency. With industry-leading features, including significantly larger air gaps, the sensors enhance performance and enable flexibility in installation, catering to evolving automotive needs.