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 semico ...

Allegro MicroSystems, Inc. (ALGM) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.Over the past month, shares of this company have returned -11.6%, compared to the Zacks S&P 500 composite's +3.6% change. During this period, the Zacks Electronics - Semiconductors industry, which Allegro MicroSystems falls in, has gained 1.1%. The key question now is: What could be the stock's future dir ...

Allegro MicroSystems, Inc. (ALGM) closed at $27.78 in the latest trading session, marking a +1.02% move from the prior day. The stock's performance was ahead of the S&P 500's daily gain of 0.63%. On the other hand, the Dow registered a gain of 0.2%, and the technology-centric Nasdaq increased by 0.82%.The company's shares have seen a decrease of 11.72% over the last month, not keeping up with the Computer and Technology sector's gain of 1.16% and the S&P 500's gain of 1.76%.The upcoming earnings release of ...

Allegro MicroSystems, Inc. (ALGM) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Over the past month, shares of this company have returned -0.5%, compared to the Zacks S&P 500 composite's +2.9% change. During this period, the Zacks Electronics - Semiconductors industry, which Allegro MicroSystems, Inc. falls in, has gained 10.4%. The key question now is: What could be the stock ...

Group 1: Brokerage Recommendations - Allegro MicroSystems, Inc. has an average brokerage recommendation (ABR) of 1.38, indicating a consensus between Strong Buy and Buy, with 75% of recommendations being Strong Buy and 12.5% being Buy [1][2] - Despite the positive ABR, studies suggest limited success of brokerage recommendations in guiding investors towards stocks with the best price increase potential due to analysts' inherent biases [2][3] - Analysts employed by brokerage firms tend to be overly optimistic, often issuing more favorable ratings than warranted, which can mislead investors [5][6] Group 2: Zacks Rank vs. ABR - The Zacks Rank is a quantitative model based on earnings estimate revisions, providing a more reliable indicator of near-term stock performance compared to the ABR, which is based solely on brokerage recommendations [4][5] - The Zacks Rank is updated more frequently, reflecting timely changes in earnings estimates, while the ABR may not always be current [6] - Allegro MicroSystems, Inc. currently holds a Zacks Rank of 5 (Strong Sell) due to a 2.6% decline in the consensus earnings estimate over the past month, indicating growing pessimism among analysts [7]

Core Insights - Investors are increasingly focusing on mid-cap stocks to enhance their portfolios, particularly in the context of the ongoing AI boom [1] - The total addressable market for enterprise software is expected to grow significantly, presenting opportunities for mid-cap stocks [1] Group 1: Qualys (QLYS) - Qualys is a leader in cloud security and compliance, with over 10,000 customers and a strong position in the cybersecurity sector [2] - The company’s revenue for FY23 increased by 13% year-over-year to $554.5 million, with net income rising to $151.6 million, or $4.03 per share [2] - Qualys is guiding for double-digit revenue growth in Q1 FY24, with GAAP EPS projected in the range of $0.84 to $0.92 [2] Group 2: Science Applications International (SAIC) - SAIC is an aerospace and defense contractor with a strong AI strategy and a diverse portfolio of cybersecurity and cloud solutions [3] - In Q3 2023, SAIC's net income and EPS increased by 16% and 21%, respectively, despite flat revenue [3][4] - The company has a backlog of $23.1 billion, indicating strong future growth potential [4] Group 3: Allegro MicroSystems (ALGM) - Allegro MicroSystems is a global leader in sensor and power integrated circuits, having shipped over 11 billion integrated circuits [5] - The company reported a 16% year-over-year revenue increase to $276 million, with E-Mobility growth accelerating by 60% year-over-year [6] - Allegro's technology is crucial for the AI revolution, particularly with the expansion of data centers [5][6]

Core Insights - Allegro MicroSystems, Inc. is a global leader in power and sensing semiconductor solutions, focusing on motion control and energy-efficient systems [1][2] - The company will present at Morgan Stanley's Technology, Media & Telecom Conference on March 4, 2024, with CFO Derek D'Antilio participating in a fireside chat [1] Company Overview - Allegro MicroSystems designs, develops, and manufactures sensor integrated circuits and application-specific analog power ICs, targeting automotive and industrial markets [2] - The product portfolio supports electrification of vehicles, automotive ADAS safety features, Industry 4.0 automation, and power-saving technologies for data centers and clean energy applications [2]

Group 1: Brokerage Recommendations - Allegro MicroSystems, Inc. has an average brokerage recommendation (ABR) of 1.38, indicating a consensus between Strong Buy and Buy [1] - Out of eight recommendations, six are Strong Buy and one is Buy, accounting for 75% and 12.5% of all recommendations respectively [1] - Despite the positive ABR, studies suggest limited success of brokerage recommendations in predicting stock price increases [2] Group 2: Analyst Bias and Zacks Rank - Brokerage analysts often exhibit a strong positive bias due to vested interests, leading to a disproportionate number of Strong Buy recommendations compared to Strong Sell [2][3] - Zacks Rank, a proprietary stock rating tool, categorizes stocks based on earnings estimate revisions and has shown a strong correlation with near-term stock price movements [3][5] - The Zacks Rank is timely and reflects changes in earnings estimates quickly, unlike the ABR which may not be up-to-date [5] Group 3: Earnings Estimates and Investment Outlook - The Zacks Consensus Estimate for Allegro MicroSystems has declined by 3.4% over the past month to $1.32, indicating growing pessimism among analysts [6] - The decline in earnings estimates has resulted in a Zacks Rank of 5 (Strong Sell) for Allegro MicroSystems, suggesting potential stock price decline [6] - Investors are advised to approach the Buy-equivalent ABR with caution given the negative earnings outlook [6]

MANCHESTER, N.H., Feb. 06, 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 launch of its new high-bandwidth current sensors, the ACS37030 and the ACS37032, which enable high-performance power conversion with GaN and SiC technologies in electrified vehicles, clean energy solutions and data center applications. Current high-power-density GaN and SiC FET charging an ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 29, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to _____________ Commission File Number: 001-39675 ALLEGRO MICROSYSTEMS, INC. (Exact name of registrant as specified in its charter) Delaware 46-2405937 (S ...