|Over a week ago|
Allegro MicroSystems initiated with a Buy at Jefferies » 07:5011/2311/23/20
Jefferies analyst Mark…
Jefferies analyst Mark Lipacis initiated coverage of Allegro MicroSystems with a Buy rating and $28 price target. The company is the market leader with an 18% share for magnetic ICs, which measure position and rotation with a high degree of accuracy, noted Lipacis. He expects the company to benefit from both secular and cyclical trends given its magnetic IC leadership position and 70% exposure to Autos, he added.
Allegro MicroSystems initiated with an Outperform at Credit Suisse » 07:4011/2311/23/20
Credit Suisse analyst…
Credit Suisse analyst John Pitzer initiated coverage of Allegro MicroSystems with an Outperform rating and $27 price target. The analyst cites long duration end markets in Auto/Industrial, accelerating content in Auto, strong cyclical recovery in Autos, accelerating Power ASICs in Datacenter, and margin leverage.
Allegro MicroSystems initiated with a Buy at Mizuho » 06:4211/2311/23/20
Mizuho analyst Vijay…
Mizuho analyst Vijay Rakesh initiated coverage of Allegro MicroSystems with a Buy rating and $28 price target. The analyst believes Allegro is leading the early stages of a "multi-decade transformation" in sensing, automotive electrification, and power distribution. He sees "substantial upside" from its "industry leadership" in magnetic sensors.
Allegro MicroSystems initiated with a Buy at Needham » 05:2911/2311/23/20
Needham analyst N. Quinn…
Needham analyst N. Quinn Bolton initiated coverage of Allegro MicroSystems with a Buy rating and $27 price target. As the market leader in magnetic sensors, Allegro's dollar content in auto is expected to increase driven by adoption of advanced driver-assistance systems and electric vehicles, Bolton tells investors in a research note. The analyst believes Allegro's exposure to "these long-lived, stickier markets" gives the company greater stability and visibility into its outlook.
Allegro MicroSystems initiated with an Outperform at SMBC Nikko » 05:0411/2311/23/20
SMBC Nikko initiated…
SMBC Nikko initiated coverage of Allegro MicroSystems with an Outperform rating and $30 price target.
Allegro MicroSystems sees Q3 revenue $147M-$151M » 08:3011/1911/19/20
For the third fiscal…
For the third fiscal quarter ending December 25, 2020, the Company expects total net sales to be in the range of $147M to $151M, with both the Automotive and Industrial businesses growing from the second fiscal quarter. Non-GAAP gross margin is expected to be in the range of 50% - 51%, and non-GAAP earnings per fully-diluted share for the same period is expected to be in the range of 11c to 12c. This guidance is based on an estimated approximate 189.4 million fully-diluted shares outstanding.
Allegro MicroSystems reports Q2 EPS 96c vs. $1.16 last year » 08:2911/1911/19/20
Reports Q2 revenue…
Reports Q2 revenue $136.6M vs. $163.2M last year. "Our business turned a corner in the second fiscal quarter, rebounding off the lows related to the pandemic and showing a quick recovery in our key markets in automotive and industrial where we believe we continue to gain market share," said Ravi Vig, President and CEO of Allegro MicroSystems. "While uncertainty remains, we have our eye on our long-term opportunities and believe we are in the sweet spot of the convergence of growth trends in automotive, Industry 4.0, data center and green energy, positioning us to take full advantage of a market recovery."
|Over a month ago|
Opening Day: MediaAlpha jumps 64%, Root falls flat in debut » 07:0911/0111/01/20
LU, LMND, DCT, AVIR, SQZ, LESL, ALGM, GLTO, BDSX, ROOT, MAX, GATO, CONX, NBA, DSAC, AJAX, LUXA, AIRB, CMPX, HOMS, WTM
MediaAlpha soared more…
Allegro MicroSystems opens at $19.40, IPO priced at $14 11:4410/2910/29/20
Allegro MicroSystems indicated to open at $17, IPO priced at $14 » 10:2810/2910/29/20
Allegro MicroSystems (ALGM) priced 25M shares at $14.00. The deal range was $12.00-$14.00. Barclays, Credit Suisse, Wells Fargo, Jefferies, Mizuho, Needham and SMBC Nikko acted as joint book running managers for the offering.