Allegro MicroSystems, Inc. designs, develops, manufactures, and markets sensor integrated circuits (ICs) and application-specific analog power ICs for motion control and energy-efficient systems. Its products include magnetic sensor ICs, such as position, speed, and current sensor ICs; and power ICs comprising motor driver ICs, and regulator and LED driver ICs, as well as photonic and 3D sensing components, including photodiodes, eye-safe lasers and rangefinders, and readout ICs for LiDAR applications. The company sells its products to original equipment manufacturers and suppliers primarily in the automotive and industrial markets through its direct sales force, third party distributors, independent sales representatives, and consignment. It operates in the United States, rest of the Americas, Europe, Japan, Greater China, South Korea, and other Asian markets. The company was incorporated in 1990 and is headquartered in Manchester, New Hampshire. Allegro MicroSystems, Inc. is a subsidiary of Sanken Electric Co., Ltd.
IPO Year: 2020
Exchange: NASDAQ
Website: allegromicro.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/12/2024 | $30.00 | Buy | Loop Capital |
| 11/7/2024 | $21.00 | Equal-Weight | Morgan Stanley |
| 9/3/2024 | $33.00 | Buy | UBS |
| 5/13/2024 | $37.00 | Buy | Jefferies |
| 5/10/2024 | $35.00 → $32.00 | Buy | TD Cowen |
| 4/16/2024 | $36.00 | Outperform | Evercore ISI |
| 2/2/2024 | $32.00 → $35.00 | Outperform | TD Cowen |
| 2/2/2024 | $35.00 | Peer Perform → Outperform | Wolfe Research |
| 9/29/2023 | $36.00 | Neutral | BofA Securities |
| 7/20/2023 | Peer Perform | Wolfe Research |
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MANCHESTER, N.H., April 03, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. ("Allegro") (NASDAQ:ALGM) a global leader in power and sensing semiconductor solutions for motion control and energy-efficient systems, today announced the appointment of Jennie Raubacher to Allegro's Board of Directors ("Board") as an independent director. Ms. Raubacher's appointment is effective on April 3, 2024. Jennie Raubacher joins Allegro's Board with over 25 years of experience in investment banking focused on the semiconductor, technology and telecom sectors where she has advised global C-suite executives and boards of directors on strategic and financing transactions. Ms. Raubacher served as Managi
MANCHESTER, NH, Oct. 19, 2023 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. ("Allegro") (NASDAQ:ALGM) a global leader in power and sensing semiconductor solutions for motion control and energy-efficient systems, today announced the appointment of Mary G. Puma to Allegro's Board of Directors ("Board"), filling the vacancy created by the retirement of Reza Kazerounian, who retired from the Board on October 15, 2023. Ms. Puma's appointment was effective on October 18, 2023. "Dr. Reza Kazerounian's vast semiconductor expertise and experience leading other companies in the semiconductor field have been crucial in Allegro's continued growth and IPO success and transformation towards a more m
MANCHESTER, N.H., Nov. 20, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. ("Allegro") (NASDAQ:ALGM), a global leader in power and sensing solutions for motion control and energy efficient systems, today announced that its A89224 automotive System-on-a-Chip (SoC) has won the Electronica 2024: Best-in-Show Award, presented by Embedded Computing Design. The award ceremony took place on November 12, 2024, at Electronica in Munich, Germany. The A89224 is a high-performance automotive SoC featuring an integrated 90V MOSFET driver, optimized for advanced motor control in 24V and 48V automotive systems. As a control hub, it powers various automotive functions, ranging from power windows an
HYDERABAD, India, Nov. 15, 2024 /PRNewswire/ -- Cyient, a global Intelligent Engineering services company, today announced the expansion of its partnership with Allegro MicroSystems, Inc. ("Allegro MicroSystems") (NASDAQ:ALGM), a global leader in power and sensing solutions for motion control and energy efficiency, with the inauguration of a Center of Excellence (CoE) in Hyderabad, India. The CoE, located at Cyient's Manikonda Campus, will focus on developing next-generation magnetic sensors and power semiconductor products for the automotive industry. The state-of-the-art facility was inaugurated by Allegro MicroSystems President & CEO Vineet Nargolwala in the presence of Max Glover, Senio
MANCHESTER, N.H., Nov. 15, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. ("Allegro") (NASDAQ:ALGM), a global leader in power and sensing semiconductor solutions for motion control and energy efficient systems, today announced that the company will present at Wells Fargo's 8th Annual TMT Summit on Wednesday, December 4, 2024 at the Terranea Resort in Rancho Palos Verdes, CA. Derek D'Antilio, EVP and Chief Financial Officer, is scheduled to participate in a fireside chat at 11:00 AM PST. A live and archived webcast of the fireside chat will be available on the Investor Relations page of the company's website at www.allegromicro.com. About Allegro MicroSystemsAllegro MicroSystems is a
MANCHESTER, N.H., Nov. 12, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. ("Allegro") (NASDAQ:ALGM), a global leader in power and sensing solutions for motion control and energy efficient systems, today at Electronica 2024, introduced its new inductive position sensors and a series of micropower magnetic switches and latches. These advanced sensing products lower system costs, extend battery life and offer reliable performance across a variety of automotive, industrial and consumer applications. The new micropower magnetic switches and latches, APS11753 and APS12753, redefine position sensing with higher sensitivity options for enhanced air gap tolerance, and ultra-low power consum
MANCHESTER, N.H., Nov. 04, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. ("Allegro") (NASDAQ:ALGM), a global leader in power and sensing solutions, today announced a groundbreaking series of Power products poised to redefine performance and efficiency across automotive, industrial and data center applications. Allegro's innovative products, debuting at Electronica 2024, empower customers to achieve unparalleled performance while simplifying design and reducing costs. The new product lineup not only addresses the escalating demands for higher voltage and power, but also delivers industry-leading efficiency and reliability, marking a significant advance in power electronics technology.
MANCHESTER, N.H., Oct. 31, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. ("Allegro" or the "Company") (NASDAQ:ALGM), a global leader in power and sensing semiconductor solutions for motion control and energy efficient systems, today announced financial results for its second quarter ended September 27, 2024. "We delivered results in-line with our commitments. Second quarter sales were $187 million, with sequential growth in both Automotive and Industrial and Other end markets. Non-GAAP EPS was $0.08, at the high end of our outlook," said Vineet Nargolwala, President and CEO of Allegro. "We are encouraged by the continued demand for our differentiated solutions and the progress made
MANCHESTER, N.H., Oct. 10, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (NASDAQ:ALGM) today announced it plans to release financial results for its second quarter fiscal 2025 prior to the market open on Thursday, October 31, 2024. Following the press release, Vineet Nargolwala, President and Chief Executive Officer, and Derek D'Antilio, Senior Vice President and Chief Financial Officer, will host a conference call at 8:30 a.m. Eastern Time to discuss the Company's results and business outlook. Analysts and investors are invited to join the conference call using the following information: Second Quarter Fiscal Year 2025 Earnings Conference CallDate: Thursday, October 31, 2024Time:
MANCHESTER, N.H., Sept. 11, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. ("Allegro") (NASDAQ:ALGM), a global leader in power and sensing solutions for motion control and energy efficient systems, announced today two new XtremeSense™ TMR sensors that streamline high power density designs, provide space and cost savings while improving energy efficiency. Allegro's latest solutions, CT455 and CT456, offer high-bandwidth and low noise that enable precise current measurements for AI data center and automotive powertrain applications. Today's prevalent market applications use current sensor modules that are bulky, intrusive and inefficient. As a result, these solu
– Sales of $167 Million Above Mid-point of Our Outlook –– Made $50 Million Voluntary Debt Repayment – – Announced Repurchase of 39 Million Shares From Majority Shareholder – MANCHESTER, N.H., Aug. 01, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. ("Allegro" or the "Company") (NASDAQ:ALGM), a global leader in power and sensing semiconductor solutions for motion control and energy efficient systems, today announced financial results for its first quarter ended June 28, 2024. "We delivered results toward the higher end of our commitments while making progress on inventory rebalancing across the Automotive and Industrial markets. First quarter sales were $16
MANCHESTER, N.H., July 31, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. ("Allegro") (NASDAQ:ALGM), a global leader in power and sensing solutions for motion control and energy-efficient systems, today announced the allocation of a $400,000,000 term loan tranche (the "Term Loan"), consisting of new term loans incurred, in relevant part, to facilitate the repurchase of shares from Allegro's majority shareholder, Sanken Electric Co., Ltd. ("Sanken"), to fully refinance Allegro's existing term loan facility, and otherwise for general corporate purposes. The new term loan tranche is expected to have a maturity date of October 31, 2030 and to bear interest at an annual rate based on the S
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Loop Capital initiated coverage of Allegro Microsystems with a rating of Buy and set a new price target of $30.00
Morgan Stanley initiated coverage of Allegro Microsystems with a rating of Equal-Weight and set a new price target of $21.00
UBS initiated coverage of Allegro Microsystems with a rating of Buy and set a new price target of $33.00
Jefferies initiated coverage of Allegro Microsystems with a rating of Buy and set a new price target of $37.00
TD Cowen reiterated coverage of Allegro Microsystems with a rating of Buy and set a new price target of $32.00 from $35.00 previously
Evercore ISI initiated coverage of Allegro Microsystems with a rating of Outperform and set a new price target of $36.00
TD Cowen reiterated coverage of Allegro Microsystems with a rating of Outperform and set a new price target of $35.00 from $32.00 previously
Wolfe Research upgraded Allegro Microsystems from Peer Perform to Outperform and set a new price target of $35.00
BofA Securities initiated coverage of Allegro Microsystems with a rating of Neutral and set a new price target of $36.00
Wolfe Research initiated coverage of Allegro Microsystems with a rating of Peer Perform
MANCHESTER, N.H., Oct. 10, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (NASDAQ:ALGM) today announced it plans to release financial results for its second quarter fiscal 2025 prior to the market open on Thursday, October 31, 2024. Following the press release, Vineet Nargolwala, President and Chief Executive Officer, and Derek D'Antilio, Senior Vice President and Chief Financial Officer, will host a conference call at 8:30 a.m. Eastern Time to discuss the Company's results and business outlook. Analysts and investors are invited to join the conference call using the following information: Second Quarter Fiscal Year 2025 Earnings Conference CallDate: Thursday, October 31, 2024Time:
MANCHESTER, N.H., July 11, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (NASDAQ:ALGM) today announced it plans to release financial results for its first quarter fiscal 2025 prior to the market open on Thursday, August 1, 2024. Following the press release, Vineet Nargolwala, President and Chief Executive Officer, and Derek D'Antilio, Senior Vice President and Chief Financial Officer, will host a conference call at 8:30 a.m. Eastern Time to discuss the Company's results and business outlook. Analysts and investors are invited to join the conference call using the following information: First Quarter Fiscal Year 2025 Earnings Conference CallDate: Thursday, August 1, 2024Time: 8:30 a
– Full Year 2024 Sales Increase 8% to a Record $1.05 Billion ––38% Growth in E-Mobility Drives 17% Year-over-Year Increase in Full Year 2024 Automotive Sales – MANCHESTER, N.H., May 09, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. ("Allegro" or the "Company") (NASDAQ:ALGM), a global leader in power and sensing semiconductor solutions for motion control and energy efficient systems, today announced financial results for its fourth quarter and full year ended March 29, 2024. "Continued strong momentum in e-Mobility drove record fiscal year 2024 sales to more than $1 billion and record non-GAAP earnings per share of $1.35. We also achieved a record level of de
MANCHESTER, N.H., April 18, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (NASDAQ:ALGM) today announced it plans to release financial results for its fourth quarter and fiscal year 2024 prior to the market open on Thursday, May 9, 2024. Following the press release, Vineet Nargolwala, President and Chief Executive Officer, and Derek D'Antilio, Senior Vice President and Chief Financial Officer, will host a conference call at 8:30 a.m. Eastern Time to discuss the Company's results and business outlook. Analysts and investors are invited to join the conference call using the following information: Fourth Quarter and Fiscal Year 2024 Earnings Conference CallDate: Thursday, May 9, 2024Ti
MANCHESTER, N.H., Jan. 11, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (NASDAQ:ALGM) today announced it plans to release financial results for its third quarter fiscal year 2024 prior to the market open on Thursday, February 1, 2024. Following the press release, Vineet Nargolwala, President and Chief Executive Officer, and Derek D'Antilio, Senior Vice President and Chief Financial Officer, will host a conference call at 8:30 a.m. Eastern Time to discuss the Company's results and business outlook. Analysts and investors are invited to join the conference call using the following information: Third Quarter Fiscal Year 2024 Earnings Conference CallDate: Thursday, February 1, 202
-- Tunnel Magnetoresistance ("TMR") Represents Fastest Growing Technology in Magnetic Sensing with an Estimated 30% CAGR Through 2030 -- MANCHESTER, N.H., Oct. 31, 2023 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. ("Allegro") (NASDAQ:ALGM), a global leader in power and sensing semiconductor technology for motion control and energy efficient systems, today announced that it has completed the acquisition of Crocus Technology, a leader in advanced TMR sensor technology, for $420 million in cash, subject to customary working capital adjustments. This acquisition accelerates Allegro's TMR roadmap and strengthens its leading position in the magnetic sensing market. "On behalf of the entire c
MANCHESTER, N.H., Oct. 12, 2023 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (NASDAQ:ALGM) today announced it plans to release financial results for its second quarter fiscal year 2024 prior to the market open on Thursday, November 2, 2023. Following the press release, Vineet Nargolwala, President and Chief Executive Officer, and Derek D'Antilio, Senior Vice President and Chief Financial Officer, will host a conference call at 8:30 a.m. Eastern Time to discuss the Company's results and business outlook. Analysts and investors are invited to join the conference call using the following information: Second Quarter Fiscal Year 2024 Earnings Conference CallDate: Thursday, November 2, 2023T
MANCHESTER, N.H., July 11, 2023 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (NASDAQ:ALGM) today announced it plans to release financial results for its first quarter fiscal year 2024 prior to the market open on Tuesday, August 1, 2023. Following the press release, Vineet Nargolwala, President and Chief Executive Officer, and Derek D'Antilio, Senior Vice President and Chief Financial Officer, will host a conference call at 8:30 a.m. Eastern Time to discuss the Company's results and business outlook. Analysts and investors are invited to join the conference call using the following information: First Quarter Fiscal Year 2024 Earnings Conference CallDate: Tuesday, August 1, 2023Time: 8:3
-- Fourth Quarter Sales increased by 35% and GAAP Earnings Per Share (EPS) increased by 138% Year-over-Year -- -- Annual Sales increased by 27% and GAAP EPS increased by 56% Year-over-Year -- -- Continued Growth in Automotive and Industrial Drove Record Sales for the Fourth Quarter & Full Year -- MANCHESTER, N.H., May 10, 2023 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. ("Allegro" or the "Company") (NASDAQ:ALGM), a global leader in power and sensing semiconductor solutions for motion control and energy efficient systems, today announced financial results for its fourth quarter and fiscal year 2023 which ended March 31, 2023. "We delivered a strong finish to fiscal year 2023, includ
MANCHESTER, N.H., April 20, 2023 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (NASDAQ:ALGM) today announced it plans to release financial results for its fourth quarter and fiscal year 2023 on Wednesday, May 10, 2023 after the market close. Vineet Nargolwala, President and Chief Executive Officer, and Derek D'Antilio, Senior Vice President and Chief Financial Officer, will host a conference call to discuss the Company's results and business outlook on Thursday, May 11, 2023 at 8:30 a.m. Eastern Time. Analysts and investors are invited to join the conference call using the following information: Fourth Quarter and Fiscal Year 2023 Earnings Conference CallDate: Thursday, May 11, 2023Time
Proceeds from the offering, together with cash on hand or additional borrowings under Allegro's term loan facility or revolving credit facility, will be used to repurchase shares from Allegro's majority shareholder, Sanken Electric Co., Ltd. ("Sanken") at a price per share equal to the price per share at which the underwriters will purchase shares of our common stock in the equity offering from Allegro.
Shares of General Dynamics Corporation (NYSE:GD) fell sharply during Wednesday's session after the company reported worse-than-expected second-quarter EPS results. Revenue for the quarter increased 18% year-over-year to $11.976 billion, beating the consensus of $11.438 billion. EPS of $3.26 (up 20.7% YoY) missed the consensus of $3.29, according to data from Benzinga Pro. General Dynamics shares declined 5.2% to $279.26 on Wednesday. Here are some other stocks moving in today’s mid-day session. Gainers NuZee, Inc. (NASDAQ:NUZE) jumped 192% to $3.01. Dermata Therapeutics, Inc. (NASDAQ:DRMA) rose 142.4% to $3.0799 after falling over 22% on Tuesday. Selina Hospitality PLC
Allegro MicroSystems, Inc. ("Allegro") (NASDAQ:ALGM), a global leader in power and sensing solutions for motion control and energy-efficient systems, today announced the launch of a primary offering of 25,000,000 shares of common stock. In addition, Allegro expects to grant the underwriters a 30-day option to purchase up to an additional 3,750,000 shares of its common stock. Proceeds from the offering, together with cash on hand or additional borrowings under Allegro's term loan facility or revolving credit facility, will be used to repurchase shares from Allegro's majority shareholder, Sanken Electric Co., Ltd. ("Sanken") at a price per share equal to the price per share at which the underw
U.S. stock futures were mixed this morning, with the Nasdaq futures gaining around 80 points on Tuesday. Shares of Pool Corporation (NASDAQ:POOL) fell sharply in today's pre-market trading after the company cut its FY24 EPS guidance. The company announced its year-to-date sales are trending down and seasonally significant Q2 2024 revenues are below previous expectations. Pool shares dipped 8.6% to $308.90 in pre-market trading. Here are some big stocks recording losses in today's pre-market trading session. SolarEdge Technologies, Inc. (NASDAQ:SEDG) shares tumbled 15% to $28.25 in pre-market trading after the company reported a private offering of $300 million convertible not
In the preceding three months, 7 analysts have released ratings for Allegro Microsystems (NASDAQ:ALGM), presenting a wide array of perspectives from bullish to bearish. The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 5 2 0 0 0 Last 30D 1 0 0 0 0 1M Ago 0 0 0 0 0 2M Ago 4 2 0 0 0 3M Ago 0 0 0 0 0 Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $34.29, along with a high estimate of $37.00 and a low estimate of $32.00. A dec
TD Cowen analyst Joshua Buchalter maintains Allegro Microsystems (NASDAQ:ALGM) with a Buy and raises the price target from $32 to $35.
Analysts' ratings for Allegro Microsystems (NASDAQ:ALGM) over the last quarter vary from bullish to bearish, as provided by 6 analysts. The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 4 2 0 0 0 Last 30D 1 0 0 0 0 1M Ago 3 2 0 0 0 2M Ago 0 0 0 0 0 3M Ago 0 0 0 0 0 In the assessment of 12-month price targets, analysts unveil insights for Allegro Microsystems, presenting an average target of $34.17, a high estimate of $37.00, and
Jefferies analyst Blayne Curtis assumes Allegro Microsystems (NASDAQ:ALGM) with a Buy rating and announces Price Target of $37.