Allegro Microsystems Inc is a leading provider of advanced semiconductor solutions, specializing in sensor and power management technologies
The company designs and manufactures a wide range of integrated circuits that enable efficient power conversion and precise sensing in various applications, including automotive, industrial, and consumer electronics. Allegro's innovative products contribute to the development of smarter, safer, and more energy-efficient systems, enhancing the performance and functionality of electronic devices. Through its commitment to research and development, the company continually strives to deliver cutting-edge solutions that meet the evolving needs of its customers and the market.
Chip designer Allegro MicroSystems (NASDAQALGM) announced better-than-expected revenue in Q4 CY2024, but sales fell by 30.2% year on year to $177.9 million. Guidance for next quarter’s revenue was better than expected at $185 million at the midpoint, 0.7% above analysts’ estimates. Its GAAP loss of $0.04 per share was in line with analysts’ consensus estimates.
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Shareholders of Allegro MicroSystems would probably like to forget the past six months even happened. The stock dropped 24.4% and now trades at $21.08. This was partly driven by its softer quarterly results and may have investors wondering how to approach the situation.
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Chip designer Allegro MicroSystems (NASDAQALGM) met Wall Street’s revenue expectations in Q3 CY2024, but sales fell 32% year on year to $187.4 million. On the other hand, next quarter’s revenue guidance of $175 million was less impressive, coming in 13.9% below analysts’ estimates. Its GAAP loss of $0.18 per share was 680% below analysts’ consensus estimates.
