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.
Allegro Microsystems Inc. (ALGM) is a leader in developing sensor and power integrated circuits for automotive and industrial applications. This page provides a comprehensive repository of official news releases and strategic updates, offering stakeholders timely insights into the company’s advancements in semiconductor technology.
Investors and industry professionals will find curated information on financial results, product innovations, and strategic partnerships. Our collection spans announcements related to Allegro’s core technologies in motion control, energy-efficient systems, and high-voltage solutions critical for electric vehicles and industrial automation.
Content is organized to highlight key developments in Allegro’s SENSE, REGULATE, and DRIVE product categories, ensuring easy access to updates impacting automotive safety, power management, and motor control markets. Bookmark this page to stay informed on Allegro’s role in advancing semiconductor solutions for a sustainable, tech-driven future.
Allegro MicroSystems (ALGM) has scheduled the release of its fourth quarter and fiscal year 2025 financial results before market open on Thursday, May 8, 2025. The company will host a conference call at 8:30 a.m. Eastern Time featuring President and CEO Mike Doogue and EVP/CFO Derek D'Antilio to discuss results and business outlook.
The earnings conference call will be accessible through a live webcast and dial-in option, with advanced registration required for dial-in participants. The audio webcast will remain available for at least 90 days on the company's investor relations website.
Allegro MicroSystems (NASDAQ: ALGM) has issued a statement regarding Onsemi's withdrawal of its unsolicited acquisition proposal. The company's Board of Directors, after careful review with independent financial and legal advisors, unanimously determined that Onsemi's proposals were inadequate.
Despite maintaining communication with Onsemi and providing a clear path for engagement that could lead to greater stockholder value, Onsemi declined to pursue this path. Allegro's Board remains committed to stockholder interests and emphasizes the company's unique position in addressing electrification and autonomy trends through sensing and power technologies.
The company will continue focusing on innovation in e-Mobility, clean energy, data center, robotics and automation markets to enhance its competitive advantages and market-leading positions. PJT Partners and Davis Polk & Wardwell LLP are serving as financial and legal advisors, respectively.
onsemi (NASDAQ: ON) has announced the termination of its efforts to acquire Allegro MicroSystems (NASDAQ: ALGM) and withdrawn its all-cash proposal of $35.10 per share. The decision comes after Allegro's Board of Directors showed reluctance to fully engage with the proposal.
Despite believing in the potential benefits of combining the two complementary businesses, onsemi determined there was no actionable path forward. The company will instead focus on other opportunities to enhance stockholder value and continue allocating capital towards its existing share repurchase program.
CEO Hassane El-Khoury emphasized onsemi's commitment to disciplined capital allocation and highlighted the company's strong position in core markets of automotive, industrial, and AI data centers, supported by market-leading technology and a robust innovation pipeline.
Allegro MicroSystems (ALGM) has appointed Rick Madormo as Senior Vice President of Worldwide Sales, effective March 24, 2025. Madormo will lead Allegro's global sales organization, focusing on revenue growth in automotive and industrial markets. He succeeds Max Glover, who will transition to an advisory role until May 16, 2025.
Madormo brings over 25 years of semiconductor industry sales experience, most recently serving as Senior Vice President of Global Sales and Marketing at Wolfspeed, where he achieved record-setting results and led the company's transformation to Silicon Carbide leadership. His previous roles include Vice President of Americas Sales at Intel and various sales leadership positions at Altera.
CEO Mike Doogue expressed confidence that Madormo's expertise, combined with Allegro's sensing and power technology, will drive the company's growth in e-Mobility and industrial markets.
onsemi (NASDAQ: ON) has proposed to acquire Allegro MicroSystems (NASDAQ: ALGM) for $35.10 per share in an all-cash transaction, valuing the company at an enterprise value of $6.9 billion. The offer represents a 57% premium to Allegro's unaffected closing share price on February 28, 2025.
The proposal follows multiple attempts by onsemi to engage with Allegro over six months, including an initial offer of $34.50 per share in September 2024. The combination would unite two complementary businesses in automotive and industrial markets, particularly in magnetic sensing and power ICs.
onsemi plans to finance the transaction through a combination of committed financing, cash on hand, and existing credit facilities. The company aims to create a diversified leader in automotive, industrial, and AI data center applications through this strategic acquisition.
Allegro MicroSystems (NASDAQ: ALGM) has appointed Mike Doogue as its new President and Chief Executive Officer, succeeding Vineet Nargolwala. Doogue, who will also join the Board, brings 27 years of experience at Allegro, most recently serving as Executive Vice President and Chief Technology Officer (CTO).
In his previous role as CTO, Doogue led technology development and worldwide operations, including manufacturing, procurement, and quality. He also served as Senior Vice President of Technology and Products, overseeing all business units. Notably, Doogue holds 75 semiconductor-related U.S. patents, demonstrating his technical expertise.
The appointment represents the culmination of a long-term succession planning process led by the Board. Lead Independent Director Joseph Martin expressed confidence in Doogue's ability to drive Allegro's growth in auto and industrial markets.
Allegro MicroSystems (Nasdaq: ALGM), a global leader in power and sensing semiconductor solutions, has announced its participation in Morgan Stanley's Technology, Media & Telecom Conference. The event will take place on March 4, 2025, at The Palace Hotel in San Francisco, CA.
The company's EVP and Chief Financial Officer, Derek D'Antilio, will engage in a fireside chat scheduled for 7:45 AM PT. Investors and interested parties can access both live and archived versions of the presentation through the Investor Relations section of Allegro's website at www.allegromicro.com.
Allegro MicroSystems (ALGM) has appointed Dr. Krishna Palepu to its Board of Directors as an independent director, effective January 31, 2025. Dr. Palepu, who serves as Ross Graham Walker Professor of Business Administration at Harvard Business School, brings significant expertise in strategy, governance, and emerging markets, particularly in India and China.
Dr. Palepu's academic research focuses on globalization and corporate board effectiveness, complemented by his experience advising technology and semiconductor companies. He is a fellow of the International Academy of Management and has served on multiple public company boards. His educational background includes a master's degree in Electronics from Andhra University, an MBA-equivalent from Indian Institute of Management, Calcutta, and a Ph.D. in Management from MIT Sloan School of Management.
Allegro MicroSystems (ALGM) reported Q3 FY2025 results with total net sales of $177.9 million and non-GAAP EPS of $0.07, both exceeding guidance midpoint. The quarter's performance included:
- Automotive sales: $130.1 million
- Industrial and other: $47.8 million
- GAAP gross margin: 45.7%
- Non-GAAP gross margin: 49.1%
For Q4 FY2025, the company projects:
- Net sales between $180-190 million
- Non-GAAP gross margin of 46-48%
- Operating expenses to increase ~5% to $72 million
- Interest expense of ~$6 million
- Non-GAAP diluted EPS of $0.03-0.07
The company highlighted the introduction of a record number of new magnetic sensing and power products during the quarter.
Allegro MicroSystems (ALGM) has announced it will release its third quarter fiscal 2025 financial results before the market opens on Thursday, January 30, 2025. The company will host a conference call at 8:30 a.m. Eastern Time on the same day, featuring President and CEO Vineet Nargolwala and CFO Derek D'Antilio, who will discuss the results and business outlook.
The earnings call will be accessible via webcast and dial-in, with advanced registration required for dial-in participants. The audio webcast will remain available for at least 90 days on the company's investor relations website.
