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 |
|---|---|---|---|
| 6/16/2025 | $38.00 | Buy | BofA Securities |
| 11/22/2024 | $23.00 | Overweight | Wells Fargo |
| 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 |
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BofA Securities resumed coverage of Allegro Microsystems with a rating of Buy and set a new price target of $38.00
Wells Fargo initiated coverage of Allegro Microsystems with a rating of Overweight and set a new price target of $23.00
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
MANCHESTER, N.H., May 15, 2025 (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 53rd Annual Technology, Media & Telecom Conference on Thursday, May 29, 2025 at the InterContinental New York Barclay in New York, NY. Derek D'Antilio, EVP and Chief Financial Officer, is scheduled to participate in a fireside chat at 1:15 PM ET. 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 MicroSystems
MANCHESTER, N.H., May 08, 2025 (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 fiscal year ended March 28, 2025. "During the fourth quarter, we delivered on our commitments with sales of $193 million, up 8% sequentially, and non-GAAP EPS of $0.06," said Mike Doogue, President and CEO of Allegro. "While the environment remains dynamic, we are encouraged by the positive momentum we are seeing across the business and the signals we are seeing from our customers. We are t
MANCHESTER, N.H., April 17, 2025 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (NASDAQ:ALGM) today announced it plans to release financial results for its fourth quarter and fiscal year 2025 prior to the market open on Thursday, May 8, 2025. Following the press release, Mike Doogue, President and Chief Executive Officer, and Derek D'Antilio, Executive 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 2025 Earnings Conference CallDate: Thursday, May 8, 2025Time:
MANCHESTER, N.H., April 15, 2025 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (NASDAQ:ALGM) ("Allegro" or the "Company") today issued the following statement regarding Onsemi's withdrawal of its unsolicited proposal to acquire Allegro: As a general matter, the Board of Directors of Allegro ("the Board") believes that public discourse around speculative transactions is not productive nor in the best interests of our stockholders. However, in light of current market speculation about our engagement with Onsemi, we believe it is important to provide stakeholders additional details about the process undertaken by the Board. As it would with any potentially credible outreach, the Board, in
MANCHESTER, N.H., April 14, 2025 (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 latest XtremeSense™ TMR current sensors. Allegro's CT4022 and CT4032 current sensors deliver superior noise performance and high-precision current measurements for high-voltage, power-dense clean energy applications. "Allegro's new XtremeSense TMR current sensors set an industry standard for low-noise magnetic current sensing," said Matt Hein, Business Line Director of Current Sensors at Allegro. "They achieve a 2x reduction in root mean square (RMS) noise
onsemi intends to continue to allocate capital towards authorized share repurchase onsemi (NASDAQ:ON) today announced that it has terminated its efforts to acquire Allegro MicroSystems, Inc. ("Allegro") (NASDAQ:ALGM) and withdrawn its all-cash proposal to acquire Allegro for $35.10 per share. While onsemi continues to believe that a combination of these companies would have brought two highly complementary businesses together, benefiting their respective customers and delivering immediate value to Allegro shareholders, onsemi has determined there is no actionable path forward. onsemi will focus on other existing opportunities to enhance stockholder value. In connection with today's annou
MANCHESTER, N.H., April 08, 2025 (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 three new solutions designed to enhance motor control and thermal management performance in e-mobility and industrial automation applications. These new solutions, the ACS37035 and ACS37630 current sensors, and the A89347 automotive-grade fan driver IC, provide advanced capabilities for a wide range of applications. "Our latest motor control and thermal management solutions reflect Allegro's commitment to delivering innovative technology that enhances efficiency and perform
MANCHESTER, N.H., March 12, 2025 (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 Rick Madormo as Senior Vice President of Worldwide Sales, effective March 24, 2025. Rick will be responsible for leading Allegro's global sales organization and driving revenue growth across automotive and industrial end markets, succeeding Max Glover. Max will transition into an advisory role until his departure on May 16, 2025. "We are thrilled to welcome Rick to Allegro," said Mike Doogue, President and Chief Executive Officer. "His semic
MANCHESTER, N.H., March 06, 2025 (GLOBE NEWSWIRE) -- Allegro (NASDAQ:ALGM) ("Allegro" or the "Company") today confirmed that it received an unsolicited proposal from onsemi to acquire Allegro for $35.10 per share in cash on February 12, 2025. The Allegro Board of Directors reviewed the proposal, in consultation with its independent financial and legal advisors, and determined that the proposal was inadequate. Allegro does not intend to comment further on this matter unless it determines it necessary to do so. PJT Partners is serving as financial advisor to Allegro. Davis Polk & Wardwell LLP is serving as legal advisor to Allegro. About Allegro MicrosystemsAllegro MicroSystems, Inc. is l
All-Cash Proposal Represents Attractive and Immediate Premium of 57% to Allegro's Unaffected Closing Share Price on February 28, 2025 onsemi (NASDAQ: ON) today disclosed details of a proposal submitted to the Board of Directors of Allegro MicroSystems, Inc. ("Allegro") (NASDAQ:ALGM) to acquire the company for $35.10 per share in cash for each share (the "Proposal") of Allegro's common stock on a fully diluted basis at an implied enterprise value of $6.9 billion. onsemi has made numerous attempts over the past six months to enter into constructive discussions regarding a potential transaction. The most recent Proposal was submitted to Allegro on February 12, 2025, and represents an increas
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MANCHESTER, N.H., March 12, 2025 (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 Rick Madormo as Senior Vice President of Worldwide Sales, effective March 24, 2025. Rick will be responsible for leading Allegro's global sales organization and driving revenue growth across automotive and industrial end markets, succeeding Max Glover. Max will transition into an advisory role until his departure on May 16, 2025. "We are thrilled to welcome Rick to Allegro," said Mike Doogue, President and Chief Executive Officer. "His semic
MANCHESTER, N.H., Feb. 24, 2025 (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 Mike Doogue as President and Chief Executive Officer and as a member of the Board. Mr. Doogue's ascension to CEO comes after 27 years of rising through the leadership ranks at Allegro, during which time he enabled many of Allegro's disruptive technologies, originally as an engineer and later as a business leader. Immediately prior to this promotion, Mr. Doogue served as Allegro's Executive Vice President and its first Chief Technology Officer
MANCHESTER, N.H., Feb. 03, 2025 (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 Krishna Palepu, Ross Graham Walker Professor of Business Administration at Harvard Business School, to Allegro's Board of Directors ("Board") as an independent director. Dr. Palepu's appointment was effective on January 31, 2025. Dr. Palepu brings extensive expertise in strategy, governance, and emerging markets to the Board, as well as experience advising companies in the technology and semiconductor sectors. His academic research focuses on
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
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