Allegro MicroSystems: A Hazy Outlook Takes A Bite Out Of The Stock (NASDAQ:ALGM)


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Allegro MicroSystems (NASDAQ:ALGM) has seen the value of its stock cut by almost half since August 1 after raising the possibility growth may slow down in the coming quarters. This was after a major rally that saw the stock

(Unit: $1000, except for EPS)

(GAAP)

Q2 FY2024

Q1 FY2024

Q2 FY2023

QoQ

YoY

Net sales

275,509

278,293

237,666

(1.00%)

15.92%

Gross margin

57.9%

56.8%

55.5%

110bps

240bps

Operating margin

26.5%

25.4%

25.2%

110bps

130bps

Operating income

72,915

70,746

59,838

3.07%

21.85%

Net income

65,671

60,889

50,648

7.85%

29.66%

EPS

0.34

0.31

0.26

9.68%

30.77%

(Non-GAAP)

Net sales

275,509

278,293

237,666

(1.00%)

15.92%

Gross margin

58.3%

57.8%

56.2%

50bps

210bps

Operating margin

31.3%

30.8%

27.9%

50bps

340bps

Operating income

86,328

85,627

66,297

0.82%

30.21%

Net income

77,731

76,533

59,758

1.57%

30.08%

EPS

0.40

0.39

0.31

2.56%

29.03%

Q3 FY2024 (guidance)

Q3 FY2023

YoY (at the midpoint)

Revenue

$250-260M

$248.8M

2.49%

Non-GAAP gross margin

54.0%

58.0%

(400bps)

Non-GAAP EPS

$0.27-0.31

$0.35

(17.14%)



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