ALLEGRO MICROSYSTEMS Reports Earnings Results for FY2024 Q1 Ending August 1 2023
August 15, 2023
🌥️Earnings Overview
ALLEGRO MICROSYSTEMS ($NASDAQ:ALGM) reported its earnings results for the first quarter of FY2024 on June 30 2023, ending August 1. Total revenue was USD 278.3 million, a 27.8% increase from the previous year. Net income for the quarter was USD 60.8 million, a significant increase from the 10.2 million reported in the same period of the prior year.
Share Price
The stock opened at $49.5 at the start of the trading day but plummeted by 12.3%, closing at $45.2, in comparison to its previous closing price of 51.6. Overall, ALLEGRO MICROSYSTEMS reported a strong set of financial results for the first quarter of fiscal year 2024, with revenue and net income significantly increasing from the same quarter last year. Despite this performance, there has been a dramatic decline in stock prices due to the weak outlook for the company in terms of future earnings and growth. Investors will be closely monitoring ALLEGRO MICROSYSTEMS stock prices in hopes of regaining their losses. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Allegro Microsystems. More…
| Total Revenues | Net Income | Net Margin |
| 1.03k | 237.96 | 22.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Allegro Microsystems. More…
| Operations | Investing | Financing |
| 205.7 | -120.25 | -21.9 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Allegro Microsystems. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.23k | 206.32 | 5.34 |
Key Ratios Snapshot
Some of the financial key ratios for Allegro Microsystems are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 19.1% | 72.9% | 26.3% |
| FCF Margin | ROE | ROA |
| 9.2% | 17.1% | 13.8% |
Analysis
At GoodWhale, we have conducted a thorough analysis of the fundamentals of ALLEGRO MICROSYSTEMS. Our Risk Rating indicates that it is a medium-risk investment when it comes to both financial and business aspects. Upon further investigation, we have detected one risk warning in the cashflow statement. If you would like to know more about this warning, register with us today! We are dedicated to providing our users with the most comprehensive and detailed analysis of any investment opportunity. More…
Peers
Its main competitors are Foshan Nationstar Optoelectronics Co Ltd, Tekcore Co Ltd, and O2Micro International Ltd.
– Foshan Nationstar Optoelectronics Co Ltd ($SZSE:002449)
Foshan Nationstar Optoelectronics Co Ltd is a leading manufacturer of optoelectronic products and solutions. The company has a market cap of 5.14B as of 2022 and a return on equity of 3.64%. The company’s products are used in a wide range of applications including lighting, display, solar energy, and more.
– Tekcore Co Ltd ($TPEX:3339)
Tekcore Co Ltd is a Taiwanese company that manufactures semiconductors and other electronic components. It has a market capitalization of 635.06 million as of 2022 and a return on equity of 5.91%. The company specializes in the production of DRAM, SRAM, and Flash memory chips, as well as other semiconductor products. It is one of the largest suppliers of memory chips to the global market.
– O2Micro International Ltd ($NASDAQ:OIIM)
O2Micro International Ltd. is a fabless semiconductor company that specializes in the design, development, and commercialization of integrated circuits (ICs) and solutions for the power management and power conversion markets. The company’s products are used in a variety of end-markets, including notebook computers, monitors, motherboards, servers, cell phones, hand-held devices, digital cameras, and home appliances.
O2Micro International Ltd. has a market capitalization of $125.21 million as of March 2021 and a return on equity of 6.96%. The company’s products are used in a variety of end-markets, including notebook computers, monitors, motherboards, servers, cell phones, hand-held devices, digital cameras, and home appliances.
Summary
ALLEGRO MICROSYSTEMS reported strong earnings for the first quarter of FY2024, with total revenue rising 27.8% year-on-year to USD 278.3 million and net income up significantly to USD 60.8 million. Despite this strong performance, the stock price dropped on the same day. Investors should look at ALLEGRO MICROSYSTEMS’ long-term track record and analyze their future growth potential to determine if this is a good time to invest in the company. Factors such as competitive pressure, industry trends, and management strategies should be taken into consideration when evaluating the company’s prospects.
Additionally, investors should watch for any changes in the company’s financials to ensure their investment is safe and sound.
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