Allegro MicroSystems
ALGM

$24.15

0.12%

Market Cap: 4.68B

About: Allegro Microsystems Inc is a designer, developer, fabless manufacturer, and marketer of sensor ICs and application-specific analog power ICs for automotive and industrial markets. Its Sensor IC allows customers to precisely measure motion, speed, position, and current, and Power ICs include high-temperature and high-voltage capable motor drivers, power management, and LED driver ICs. Its products are divided into three categories such as SENSE which includes Current Sensors, Switches and Latches, and Interface ICs among others; REGULATE which includes Regulators, ClearPower Modules, and LED Drivers; and DRIVE which includes BLDC Drivers, Brush DC, and others. Key revenue for the company is generated from Greater China and the rest from the United States, Japan, Europe, and other regions.

Employees: 4,593

Information Technology Semiconductors & Related Devices

0

Funds holding %

of 6,702 funds

0

Analysts bullish %

of 9 analysts

0

News positive %

of 7 articles

Fund manager confidence

Based on 2024 Q1 SEC filings by fund managers ($100M+ AUM)

11% more repeat investments, than reductions

Existing positions increased: 103 | Existing positions reduced: 93

3.68% more ownership

Funds ownership: 50.04% [Q4 2023] → 53.72% (+3.68%) [Q1 2024]

4% less capital invested

Capital invested by funds: $2.91B [Q4 2023] → $2.8B (-$116M) [Q1 2024]

5% less funds holding

Funds holding: 285 [Q4 2023] → 272 (-13) [Q1 2024]

25% less first-time investments, than exits

New positions opened: 40 | Existing positions closed: 53

32% less call options, than puts

Call options by funds: $64.6M | Put options by funds: $95.2M

50% less funds holding in top 10

Funds holding in top 10: 4 [Q4 2023] → 2 (-2) [Q1 2024]

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Research analyst outlook

9 Wall Street Analysts provided 1 year price forecasts over the past 6 months

Low target

$32

33%

upside

Avg. target

$35

45%

upside

High target

$40

66%

upside

9 analyst ratings

9 positive

100%

0 neutral

0%

0 negative

0%

TD Cowen Joshua Buchalter	45%upside $35	Buy Maintained	13 Jun 2024
Jefferies Blayne Curtis	53%upside $37	Buy Assumed	13 May 2024
Barclays Blayne Curtis	33%upside $32	Overweight Maintained	10 May 2024
TD Cowen Joshua Buchalter	33%upside $32	Buy Maintained	10 May 2024
Mizuho Vijay Rakesh	45%upside $35	Buy Maintained	10 May 2024

See Analyst Rankings

Financial journalist opinion

Based on 7 articles about ALGM published over the past 30 days

Allegro MicroSystems Announces Pricing of Primary Offering

MANCHESTER, N.H., July 24, 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 pricing of a primary offering of 25,000,000 shares of common stock at a public offering price of $24.00 per share, resulting in gross proceeds of $600,000,000 to Allegro (or $579,000,000 to Allegro after giving effect to the underwriters' discount of $0.84 per share). In addition, Allegro has granted the underwriters a 30-day option to purchase up to an additional 3,750,000 shares of its common stock at the public offering price, less underwriting discounts and commissions. 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. On an as adjusted basis after giving effect to the offering and the share repurchase, Sanken will hold approximately 33.2% (or 32.5% if the underwriters' option to purchase additional shares of Allegro's common stock is exercised in full) of Allegro's outstanding common stock. The offering is expected to close on or about July 26, 2024, subject to the satisfaction of customary closing conditions.

Allegro MicroSystems Announces Pricing of Primary Offering

Allegro MicroSystems Launches Incremental Term Loan

MANCHESTER, N.H., July 23, 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 syndication of an incremental term loan under the Credit Agreement, dated as of June 21, 2023, by and among Allegro, Allegro MicroSystems, LLC, the lenders and the other parties thereto (the "Incremental Term Loan"). Proceeds from the Incremental Term Loan will be used to repurchase shares from Allegro's majority shareholder, Sanken Electric Co., Ltd. (“Sanken”). The foregoing transactions are subject to market and other conditions, and there can be no assurance as to whether, or when, the transactions may be completed or as to the actual size or terms of the Incremental Term Loan.

Allegro MicroSystems Launches Incremental Term Loan

Allegro MicroSystems Launches Primary Offering of Common Stock

MANCHESTER, N.H., July 23, 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 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 underwriters will purchase shares of our common stock in the equity offering from Allegro. The offering is subject to market conditions, and there can be no assurance as to whether, or when, the offering may be completed or as to the actual size or terms of the offering.

Allegro MicroSystems Launches Primary Offering of Common Stock

Allegro MicroSystems to Announce First Quarter Fiscal 2025 Financial Results

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.

Allegro MicroSystems to Announce First Quarter Fiscal 2025 Financial Results

Zacks Investment Research

Allegro MicroSystems (ALGM) Boosts Portfolio With ACS37220

Allegro MicroSystems (ALGM) launches ACS37220, which is the smallest leaded magnetic high-power current sensor to replace traditional shunt resistors and op amps.

Allegro MicroSystems (ALGM) Boosts Portfolio With ACS37220

Allegro MicroSystems Redefines Magnetic Current Sensing with Compact, Integrated Solutions for Industrial, Automotive and Clean Energy Applications

New Sensor Solutions Improve Design Efficiency and Reliability with Enhanced Protection New Sensor Solutions Improve Design Efficiency and Reliability with Enhanced Protection

Allegro MicroSystems Redefines Magnetic Current Sensing with Compact, Integrated Solutions for Industrial, Automotive and Clean Energy Applications

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Better Than NVIDIA: Top 2 Semiconductor Stocks to Watch Today

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Nvidia Corp. dominates coverage of the semiconductor industry, and this will continue as long as this company keeps blowing past even its own expectations for sales and profits each quarter. But there are other semiconductor manufacturers that are also growing quickly during this upcycle for the industry.

11 favored semiconductor stocks expected to outperform Nvidia over the next year

Allegro MicroSystems Expands Isolated Gate Driver Portfolio with Power-Thru Combo Chip

New Product Provides Engineers with Greater Flexibility in Designing for Higher Power Output in EV Chargers New Product Provides Engineers with Greater Flexibility in Designing for Higher Power Output in EV Chargers

Allegro MicroSystems Expands Isolated Gate Driver Portfolio with Power-Thru Combo Chip

Allegro MicroSystems to Present at TD Cowen's Technology, Media & Telecom Conference on May 29

Manchester, N.H., May 16, 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 TD Cowen's 52nd Annual Technology, Media & Telecom Conference on Wednesday, May 29, 2024 at the InterContinental New York Barclay in New York, NY. Vineet Nargolwala, Chief Executive Officer, is scheduled to participate in a fireside chat at 3:00 PM EST.

Allegro MicroSystems to Present at TD Cowen's Technology, Media & Telecom Conference on May 29

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