STOCK TITAN

Allegro MicroSystems, Inc. - ALGM STOCK NEWS

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. (Nasdaq: ALGM) is a distinguished leader in the development, manufacture, and marketing of high-performance semiconductors. Headquartered in Worcester, Massachusetts, Allegro is at the forefront of innovative semiconductor solutions catering to high-growth applications within the automotive sector, as well as office automation, industrial, and consumer/communications markets.

Core Business and Capabilities:

Allegro specializes in designing sensor integrated circuits (ICs) and application-specific analog power ICs, primarily for automotive and industrial applications. Their product categories include:

  • SENSE: This category comprises Current Sensors, Switches and Latches, and Interface ICs, allowing precise measurement of motion, speed, position, and current.
  • REGULATE: Includes Regulators, ClearPower Modules, and LED Drivers focused on efficient power management.
  • DRIVE: Encompasses BLDC Drivers, Brush DC, and other high-temperature and high-voltage capable motor drivers.

Recent Achievements and Initiatives:

Allegro has made significant strides with several recent product launches and partnerships:

  • Purpose-Built Isolated Gate Drivers: Collaborated with Transphorm, Inc. to enhance GaN power system design for high-power applications, aiming to boost efficiency and power density in data centers, renewables, and electric vehicles.
  • New High Voltage Power Product: Launched the AHV85111 isolated gate-driver IC, which adds critical safety features for e-Mobility and clean energy applications.
  • Financial Performance: Reported record sales and earnings for fiscal year 2024, attributed to strong momentum in e-Mobility and automotive markets.
  • High-Bandwidth Current Sensors: Introduced ACS37030 and ACS37032 sensors to enhance power conversion with GaN and SiC technologies in electrified vehicles and clean energy solutions.
  • Innovative Gate-Driver IC: Launched the AHV85000/40 isolated gate-driver for xEV charging, solar inverters, and energy storage systems, providing greater design flexibility and efficiency.

Global Reach:

Allegro operates with a global footprint, having design, applications, and sales support centers located worldwide, ensuring robust support for its international customer base. Key revenue markets include Greater China, the United States, Japan, Europe, and other regions.

For more information, please visit Allegro MicroSystems.

Rhea-AI Summary

Allegro MicroSystems, a leader in power and sensing semiconductor technology, will host its inaugural Analyst Day on March 14, 2023, in New York City. This event aims to provide insights into the company's strategies, technology innovations, and focus on high-growth markets. Key executives, including President Vineet Nargolwala and CFO Derek D’Antilio, will discuss Allegro's technology leadership and present an updated financial model, alongside product demonstrations. The Analyst Day is invitation-only for in-person attendees but will also feature a live virtual stream and archived webcast available on Allegro's website.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.75%
Tags
conferences
-
Rhea-AI Summary

Allegro MicroSystems (Nasdaq:ALGM) reported record financial results for Q3 2023, with total net sales reaching $248.8 million, a 33% increase year-over-year. Automotive net sales hit $170.1 million, up 30.1% year-over-year, while Industrial sales surged to $51.0 million, marking a 59.9% increase. Gross margins also set records at 57.3% GAAP and 58.0% non-GAAP. The company achieved diluted earnings per share of $0.33 GAAP and $0.35 non-GAAP, reflecting increases of 94% and 84% year-over-year, respectively. For Q4 2023, Allegro anticipates net sales between $260 million and $270 million, with gross margins around 57.0%.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
10.86%
Tags
-
Rhea-AI Summary

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.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.11%
Tags
none
Rhea-AI Summary

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.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
6.43%
Tags
none
-
Rhea-AI Summary

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.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.5%
Tags
-
Rhea-AI Summary

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.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.6%
Tags
conferences
Rhea-AI Summary

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.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.16%
Tags
conferences
-
Rhea-AI Summary

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.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.65%
Tags
none
-
Rhea-AI Summary

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.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.07%
Tags
none
Rhea-AI Summary

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.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.8%
Tags

FAQ

What is the current stock price of Allegro MicroSystems (ALGM)?

The current stock price of Allegro MicroSystems (ALGM) is $22.96 as of January 10, 2025.

What is the market cap of Allegro MicroSystems (ALGM)?

The market cap of Allegro MicroSystems (ALGM) is approximately 4.2B.

What does Allegro MicroSystems, Inc. specialize in?

Allegro specializes in developing, manufacturing, and marketing high-performance sensor ICs and application-specific analog power ICs for automotive and industrial applications.

Where is Allegro MicroSystems headquartered?

Allegro MicroSystems is headquartered in Worcester, Massachusetts, USA.

What recent products has Allegro MicroSystems launched?

Recent launches include the AHV85111 isolated gate-driver IC, ACS37030/32 high-bandwidth current sensors, and AHV85000/40 isolated gate-driver IC for xEV charging and solar inverters.

Who are Allegro MicroSystems' key revenue markets?

Allegro's key revenue markets include Greater China, the United States, Japan, Europe, and other regions.

What are the primary applications of Allegro's semiconductor solutions?

Allegro's solutions are used in automotive, office automation, industrial, consumer, and communication applications, focusing on motion control and energy-efficient systems.

How does Allegro support its global customer base?

Allegro has design, applications, and sales support centers worldwide to provide robust support for its international customers.

What is the significance of Allegro's collaboration with Transphorm, Inc.?

The collaboration aims to enhance GaN power system design for high-power applications, improving efficiency and power density in data centers, renewables, and electric vehicles.

What financial achievements did Allegro report for fiscal year 2024?

Allegro reported record sales exceeding $1 billion and a record level of design wins surpassing $1 billion, driven by strong momentum in e-Mobility and automotive markets.

How does Allegro's new AHV85000/40 gate-driver IC benefit engineers?

The new gate-driver IC provides greater design flexibility for isolation, power, and layout, allowing engineers to maximize power efficiency in clean energy applications.

What are some of Allegro's core product categories?

Allegro's core product categories include SENSE (Current Sensors, Switches, Latches), REGULATE (Regulators, LED Drivers), and DRIVE (Motor Drivers for BLDC and Brush DC motors).
Allegro MicroSystems, Inc.

Nasdaq:ALGM

ALGM Rankings

ALGM Stock Data

4.22B
122.72M
33.3%
78.22%
6.19%
Semiconductors
Semiconductors & Related Devices
Link
United States of America
MANCHESTER