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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.
Allegro MicroSystems has appointed Susan Lynch to its Board of Directors and Audit Committee, effective immediately, replacing Christine King, who has completed her term. This leadership change comes after Allegro’s first year as a public entity, with King expressing gratitude for her tenure and optimism about the company's future. Lynch brings over 25 years of financial expertise from senior roles in technology and manufacturing, most recently as CFO of Vectrus. The board anticipates Lynch's contributions will enhance stockholder value as Allegro continues to grow in key markets like electric vehicles and green energy.
Allegro MicroSystems (Nasdaq: ALGM) has launched two innovative ICs, A80803 and A80804. These chips enhance automotive lighting for ADAS applications, improving safety and reducing costs by streamlining IC usage.
Vehicle lighting is critical for safety, significantly reducing nighttime crash risks. The A80803 and A80804 focus on high-performance LED control, offering features like multi-topology transitions and multiple PWM dimming methods.
Allegro MicroSystems, Inc. (Nasdaq: ALGM) announced a secondary offering of 7,000,000 shares of common stock by OEP SKNA, L.P., an affiliate of One Equity Partners. This offering consists solely of secondary shares, with Allegro receiving no proceeds. The underwriter, Barclays, has a 30-day option to purchase an additional 1,050,000 shares. The offering is made under an effective shelf registration with the SEC, and all transactions will occur at market prices or negotiated prices.
Allegro MicroSystems (ALGM) reported a record quarterly revenue of $193.6 million for Q2 of fiscal 2022, up 42% year-over-year. Strong sales in the automotive sector reached $126 million, a 41% increase, while industrial sales soared 68% to $36.3 million. GAAP earnings per share rose to $0.17. Despite facing COVID-related supply chain challenges, Allegro expects a revenue growth of 28% for fiscal 2022 and aims for low to mid-teens growth for fiscal 2023. The company cites robust demand and a healthy backlog as key growth drivers.
Allegro MicroSystems has expanded its QuietMotion™ product line with the A89307, an automotive-qualified gate driver IC designed for battery cooling fans and HVAC systems in electric and hybrid vehicles. This device employs a Field Oriented Control algorithm for ultra-low noise operation, enhancing vehicle efficiency by improving battery life and mitigating environmental impact. The A89307 simplifies design processes and reduces component costs, supporting sustainable automotive innovation.
Allegro MicroSystems (Nasdaq: ALGM) will release its Q2 fiscal year 2022 financial results before the market opens on October 28, 2021. Following the release, a conference call is scheduled for 8:30 AM EDT featuring CEO Ravi Vig and CFO Paul Walsh discussing the results and business outlook. Analysts and investors can join the call via dial-in or access a live webcast. An archived version will be available afterward on the investor relations page.
Allegro MicroSystems has finalized the sale of its manufacturing facility in Thailand (AMTC) to Innolight Technology (Thailand) for approximately $27 million USD. This move is part of Allegro's strategy to streamline back-end operations and enhance gross margin. The company is consolidating integrated circuit assembly and testing into a single site, aiming for a fabless operational model, which also emphasizes sustainability through reduced energy consumption and waste. The transaction aligns with Allegro's multi-year plan to optimize its manufacturing footprint and reduce fixed costs.
Allegro MicroSystems, Inc. (ALGM) reported strong financial results for Q1 FY2022, ending June 25, 2021, with net sales of $188.1 million, a 7% sequential increase and 64% year-over-year growth. Automotive sales reached a record $133.5 million, surging 75% year-over-year. GAAP gross margin was at 50.0%, while non-GAAP gross margin hit 52.2%. Earnings per share (EPS) also exceeded expectations, with GAAP EPS at $0.14 and non-GAAP EPS at $0.18. The outlook for Q2 anticipates net sales between $185 million and $191 million.
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