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 ...

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though?Let's take a look at what these Wall Street heavyweights have to say about Allegro MicroSystems, Inc. (ALGM) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.Allegro MicroSy ...

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MANCHESTER, N.H., Feb. 13, 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 Morgan Stanley's Technology, Media & Telecom Conference on Monday, March 4, 2024 at the Palace Hotel in San Francisco, CA. Derek D'Antilio, Chief Financial Officer, is scheduled to participate in a fireside chat at 3:40 PM PST. A live and archived ...

Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?Let's take a look at what these Wall Street heavyweights have to say about Allegro MicroSystems, Inc. (ALGM) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.Allegro MicroSystems, In ...

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 ...

Financial Data and Key Metrics Changes - Sales for Q3 were $255 million, up 2% year-over-year, with gross margin at 54.6% and operating income at 27.2% [6][15] - Earnings per share were $0.32, exceeding the high end of guidance by 10% [15] - Automotive sales reached $195 million, an 18% increase year-over-year, representing 76% of total sales [15] - E-mobility sales increased by 45% year-over-year, now accounting for 54% of automotive sales [15][46] Business Line Data and Key Metrics Changes - Sales in strategic growth areas, including e-mobility and industrial, rose approximately 20% year-over-year to $150 million, making up 59% of total sales [6][15] - Industrial sales were $46 million, down 25% sequentially and 14% year-over-year [15] - Magnetic sensor sales were $154 million, declining 13% sequentially but flat year-over-year [16] Market Data and Key Metrics Changes - Sales by geography were balanced: 30% in China, 24% in the rest of Asia, 17% in Japan, 15% in Europe, and 14% in the Americas [16] - The automotive market is expected to remain stable with growth in xEVs, which includes battery electric vehicles and hybrids [10][11] Company Strategy and Development Direction - The company is focused on maximizing growth in strategic areas while optimizing profitability and cash flow [6][14] - The integration of the Crocus acquisition is progressing well, enhancing the magnetic-sensing IC portfolio [9][20] - The company aims to close over $1 billion in design wins for fiscal year 2024, with the majority expected to convert to revenue over the next three years [14] Management's Comments on Operating Environment and Future Outlook - Management expects continued inventory digestion across markets in the short term but remains confident in above-market growth for the automotive business in fiscal year 2024 [12][21] - The fourth quarter sales outlook is projected between $230 million and $240 million, reflecting ongoing inventory digestion [20] - Management anticipates Q1 of fiscal 2025 to be the trough quarter for inventory levels [21] Other Important Information - The company is investing in localizing parts of its supply chain in China to enhance relationships with local partners [33][34] - The company is managing material purchases to align with current production levels, expecting a decline in capital expenditures by approximately 30% in the second half of fiscal 2024 [19][20] Q&A Session Summary Question: Guidance for the March quarter and June quarter dynamics between auto and industrial segments - Management indicated that inventory digestion is expected across all end markets, particularly in industrial, with automotive demand remaining stable [24][25] Question: Expectations for automotive revenue growth in fiscal 2024 - Management expects automotive sales to grow in the high teens, significantly outpacing the overall market growth [28][46] Question: Factors affecting fourth quarter gross margin guidance - Management noted that pricing dynamics and distribution mix are contributing to the expected decline in gross margin [29][30] Question: Investments in China and local partnerships - Management confirmed investments in localizing supply chains in China to build trust with domestic customers [33][34] Question: Customer sentiment regarding EVs in the U.S. - Management observed significant R&D investments from OEMs in electrifying their fleets, indicating strong design activity despite market sentiment [36][37] Question: Design win activity in data centers, specifically for AI liquid cooling - Management highlighted that their power solutions are being utilized in innovative liquid cooling solutions for AI data centers, indicating strong design win activity [40][41] Question: Confidence in inventory normalization by June quarter - Management expects inventory levels to normalize by Q1 of fiscal 2025, following historical patterns of inventory digestion [42][43] Question: Expectations for gross margin recovery - Management anticipates gross margins to remain in the 53% to 54% range in the near term, with potential recovery as distribution normalizes [63][65]

–Total Sales Increased 2% Year-over-Year ––E-Mobility Drives 18% Year-over-Year Increase in Automotive Sales – MANCHESTER, N.H., Feb. 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 third quarter ended December 29, 2023. "We delivered third-quarter net sales of $255 million, up 2% year-over-year, driven by ...