The IPOX® Watch: Allegro MicroSystems, Inc
COMPANY DESCRIPTION
Founded in 2013 as Sanken North America, Allegro MicroSystems, Inc is a fabless semiconductor company headquartered in Manchester, NH. Allegro designs, develops, manufactures, and sells sensor and power integrated circuits (ICs) and photonics components mainly to automotive and industrial end markets
BUSINESS MODEL
Allegro MicroSystems generates revenues from the sale of its magnetic sensor ICs, application-specific analog power semiconductors and photonics, as well as from wafer foundry products, and Sanken related products.
IPO HISTORY
On 10/29/2020, Allegro MicroSystems began trading on the NASDAQ Global Select led by Barclays. The semiconductor company offered 25 million shares, at $14.00 per share, high-end of its expected price range ($12-$14). Allegro was valued at ca. $2.65 billion at offer with the 15% over-allotment option fully exercised. The shares opened at $19.40 and closed the first day at $17.70 (+26.43%).
Allegro MicroSystems, Inc was included in the IPOX® 100 U.S. Index (ETF: FPX US, FPX LN) on 12/19/2022 and has gained +56.58% since addition to the index.
