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Allegro MicroSystems, Inc. (ALGM) 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; power ICs comprising motor driver ICs, and regulator and LED driver ICs; and photonic and 3D sensing components, including photodiodes, eye-safe lasers, 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.
On January 31st, ALGM reported 3rd Quarter December 2022 earnings of $0.35 per share on revenue of $248.8 million. The consensus earnings estimate was $0.32 per share on revenue of $245.2 million. Revenue grew 69.1% on a year-over-year basis.
Guided Higher: The company said it expects fourth quarter non-GAAP earnings of $0.35 to $0.37 per share on revenue of $260.0 million to $270.0 million. The previous earnings estimate was $0.32 per share on revenue of $251.72 million for the quarter ending March 31, 2023.
Shares have formed a bullish "cup and handle" and higher share prices are expected.
Entry Point: $43.65
Trading Range: $19.20 - $45.99
Stop Loss: $41.50
Target Price: $48.00
ALGM closed at $48.00
