Articles from Allegro MicroSystems, Inc.

MANCHESTER, N.H., Jan. 30, 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 third quarter ended December 27, 2024.  

MANCHESTER, N.H., Jan. 09, 2025 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (Nasdaq: ALGM) today announced it plans to release financial results for its third quarter fiscal 2025 prior to the market open on Thursday, January 30, 2025. 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.

MANCHESTER, N.H., Jan. 02, 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 virtually at the 27th Annual Needham Growth Conference on Thursday, January 16, 2025. Vineet Nargolwala, President and Chief Executive Officer, and Derek D’Antilio, EVP and Chief Financial Officer, are scheduled to participate in a virtual fireside chat at 9:30 AM EST.

New Sensor ICs Deliver Higher Isolation in a 40% Smaller Footprint Compared to Existing Products, Delivering Exceptional Power Density

Allegro's innovative technology is transforming sensing and power to enable a smarter, more efficient future

Allegro's A89224 Automotive SoC Recognized for Innovation at Electronica 2024 

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.

New Solutions Enhance Accuracy, Efficiency, and Reliability While Reducing Power Consumption by up to 50% Compared to Existing Switches and Latches

Allegro’s New Solutions Deliver Design Simplicity With Cost Savings

– Sales Increased 12% Sequentially to $187 Million –

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.

– 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 –

New current sensors utilizing Allegro’s patented XtremeSense™ TMR technology represent the first products launched since the company’s acquisition of Crocus Technologies

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 Secured Overnight Financing Rate (“SOFR”) plus an interest rate margin of 2.25%, which annual rate represents a 0.50% per annum reduction as compared to Allegro’s existing term loan facility. 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 Term Loan.

MANCHESTER, N.H., July 29, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (Nasdaq: ALGM) (“Allegro”), a global leader in power and sensing solutions for motion control and energy-efficient systems, announced today that it has completed the closing of the first of two repurchases for a total of 39 million shares of common stock from Allegro’s largest shareholder, Sanken Electric Co., Ltd. (“Sanken”), all of which will be retired.

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.

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.

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.

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.

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

New Sensor Solutions Improve Design Efficiency and Reliability with Enhanced Protection

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.

– 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 –

Technology highlights missing piece in the xEV driving equation, while also enabling broader EV market demand

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.

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.

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.

Power-Dense Sensors Designed to Minimize Energy Loss While Improving Efficiency and Reliability for SiC and GaN Technologies

–Total Sales Increased 2% Year-over-Year ––E-Mobility Drives 18% Year-over-Year Increase in Automotive Sales –

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.

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.

MANCHESTER, N.H., Jan. 05, 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 Needham’s 26th Annual Growth Conference on Friday, January 19, 2024, which is a designated day for virtual presentations and meetings. Vineet Nargolwala, President and Chief Executive Officer, and Derek D’Antilio, Chief Financial Officer, are scheduled to participate in a fireside chat at 12:45 PM EDT.

– Net Sales Increased by 16% Year-over-Year –– GAAP & Non-GAAP EPS Increased 31% and 29% Respectively, Year-over-Year –– Automotive Sales Increased by 31% Year-over-Year Led by E-Mobility –

-- Tunnel Magnetoresistance (“TMR”) Represents Fastest Growing Technology in Magnetic Sensing with an Estimated 30% CAGR Through 2030 --

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.

-- Tunnel Magnetoresistance (“TMR”) Represents Fastest Growing Technology in Magnetic Sensing Approaching $1B SAM by 2030 --

--Net Sales increased by 28% Year-over-Year to a New Record----Net Sales in Strategic Growth Areas Increased by 63% Year-over-Year----GAAP Diluted Earnings Per Share (EPS) increased by 520% Year-over-Year----Non-GAAP Diluted EPS increased by 63% Year-over-Year--

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.

MANCHESTER, N.H., May 30, 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 that the Company will present at the Nasdaq Investor Conference to be held in partnership with Jefferies on June 13 and 14 in London, United Kingdom. Vineet Nargolwala, President and Chief Executive Officer, and Derek D’Antilio, Chief Financial Officer, are scheduled to participate in a fireside chat on Wednesday, June 14, 2023 at 9:00 AM British Summer Time (BST).

MANCHESTER, N.H., May 17, 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 that the Company will present at TD Cowen’s 51st Annual Technology, Media & Telecom Conference on Wednesday, May 31, 2023 at the Lotte Palace Hotel in New York, NY. Derek D’Antilio, Chief Financial Officer, is scheduled to participate in a fireside chat at 2:00 PM EDT.

-- Fourth Quarter Sales increased by 35% and GAAP Earnings Per Share (EPS) increased by 138% Year-over-Year --

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.

MANCHESTER, N.H., Feb. 28, 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 the Company will host its inaugural Analyst Day on Tuesday, March 14, 2023 at Convene 75 Rockefeller Plaza in New York City from 9:00 a.m. to 12:00 p.m. Eastern Time.

Achieves Record Quarter with Sales Increasing 33% and Earnings Expanding 96% Y-o-Y Led By Continued Strength in E-Mobility

MANCHESTER, N.H., Jan. 27, 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 Polar Semiconductor (“Polar”), a company jointly-owned by Allegro and Sanken Electric Co., Ltd. (“Sanken”), and one of Allegro’s primary suppliers of 200 millimeter wafers, is expected to receive a $150 million equity investment from an affiliate of One Equity Partners to expand 200 millimeter sensor and high voltage power wafer capacity at its fabrication facility in Bloomington, Minnesota. In conjunction with this investment, Polar is also pursuing U.S. CHIPS Act funding to further invest in its capacity and cost leadership initiatives to supply sensor and high voltage power wafers for critical automotive and industrial applications.

MANCHESTER, N.H., Jan. 17, 2023 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (Nasdaq: ALGM) today announced it plans to release financial results for the third quarter fiscal 2023 prior to the market open on Tuesday, January 31, 2023. Following the press release, the Company will host a conference call at 8:30 a.m. Eastern Time. Vineet Nargolwala, President and Chief Executive Officer, and Derek D’Antilio, Senior Vice President, Finance and Chief Financial Officer, will discuss the Company’s results and business outlook.

MANCHESTER, N.H., Jan. 04, 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 Vineet Nargolwala, President and Chief Executive Officer, and Derek D’Antilio, Chief Financial Officer, will participate in the 25th Annual Needham Growth Conference to be held at the Lotte NY Palace Hotel in New York City. Management is scheduled to host a fireside chat at 10:15 a.m. ET on Tuesday, January 10, 2023 and meet with registered attendees throughout the day.

MANCHESTER, N.H., Nov. 23, 2022 (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 senior management will be participating at the following investor conferences:

Achieves Record Quarter with Sales Increasing 23% and Earnings Expanding 52% Year-over-Year

MANCHESTER, N.H., Oct. 13, 2022 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (Nasdaq: ALGM) today announced it will release financial results for the second quarter fiscal 2023 prior to the market open on Thursday, October 27, 2022. Following the press release, the Company will host a conference call at 8:30 a.m. Eastern Time the same day. Vineet Nargolwala, President and Chief Executive Officer, and Derek D’Antilio, Senior Vice President, Finance and Chief Financial Officer, will discuss the Company’s results and business outlook.