)
Overview
<ul>
<li>Semiconductor firm’s Q3 revenue rose, beating analyst expectations</li>
<li>Non-GAAP EPS for Q3 more than doubled yr/yr to $0.15</li>
<li>Automotive sales grew 28% yr/yr, with e-Mobility up 46%</li>
</ul>
Outlook
<ul>
<li>Company expects Q4 net sales between $230 mln and $240 mln</li>
<li>Allegro anticipates Q4 non-GAAP EPS between $0.14 and $0.18</li>
<li>Company projects Q4 non-GAAP gross margin between 49% and 51%</li>
</ul>
Result Drivers
<ul>
<li>AUTOMOTIVE SALES - Automotive sales grew 28% yr/yr, with e-Mobility up 46%, driving strong Q3 performance</li>
<li>INDUSTRIAL GROWTH - Industrial sales increased 31% yr/yr, led by record performance in Data Center</li>
<li>INCREASED BOOKINGS - Co reported growing bookings and backlog, with significant annual increase in design wins</li>
</ul>
Key Details
Metric Beat/Mis Actual Consensu
s s
Estimate
Q3 Sales Beat $229.21 $220.73
mln mln (11
Analysts
)
<h3>Q3 EPS $0.04</h3>
Q3 Gross 46.70%
Margin
<h3>Q3 4.20%</h3>
Operatin
g Margin
Analyst Coverage
<ul>
<li>The current average analyst rating on the shares is “buy” and the breakdown of recommendations is 11 “strong buy” or “buy”, 1 “hold” and no “sell” or “strong sell”</li>
<li>The average consensus recommendation for the semiconductors peer group is “buy”</li>
<li>Wall Street’s median 12-month price target for Allegro Microsystems Inc is $38.00, about 10% above its January 28 closing price of $34.55</li>
<li>The stock recently traded at 39 times the next 12-month earnings vs. a P/E of 39 three months ago</li>
</ul>
Press Release: For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact . (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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Allegro MicroSystems Q3 revenue beats estimates, rises 29%