Allegro Microsystems Files 2024 10-K

TL;DR

Allegro Microsystems filed its 2024 10-K. Check financials and risks.

AI Summary

Allegro Microsystems, Inc. filed its 10-K for the fiscal year ending March 29, 2024, detailing its financial performance and business operations. The company, based in Manchester, NH, operates in the semiconductors and related devices industry. Key financial information and risks associated with its business are outlined in the filing.

Why It Matters

This filing provides investors and stakeholders with a comprehensive overview of Allegro Microsystems' financial health, strategic direction, and potential risks for the fiscal year 2024.

Risk Assessment

Risk Level: medium — The filing contains standard disclosures for a public company, including information on financial performance, business operations, and risk factors, which are typical for a company in the semiconductor industry.

Key Numbers

• FY 2024 — Fiscal Year End (Reporting period for the 10-K filing)
• 03/29/2024 — Fiscal Year End Date (Specific end date of the reporting period)
• 05/23/2024 — Filing Date (Date the 10-K was submitted to the SEC)

Key Players & Entities

• ALLEGRO MICROSYSTEMS, INC. (company) — Filer
• Manchester, NH (location) — Business Address
• 03103 (location) — Business Address Zip Code
• 20240329 (date) — Fiscal Year End
• 20240523 (date) — Filing Date
• Sanken (company) — Mentioned in relation to customer concentration risk

FAQ

Key Financial Figures

• $0.01 — ch registered Common Stock, par value $0.01 per share ALGM The Nasdaq Global Se

Filing Documents

• algm-20240329.htm (10-K) — 3844KB
• algm-ex10_7.htm (EX-10.7) — 158KB
• algm-ex10_8.htm (EX-10.8) — 40KB
• algm-ex19_1.htm (EX-19.1) — 95KB
• algm-ex21_1.htm (EX-21.1) — 21KB
• algm-ex23_1.htm (EX-23.1) — 5KB
• algm-ex23_2.htm (EX-23.2) — 4KB
• algm-ex31_1.htm (EX-31.1) — 15KB
• algm-ex31_2.htm (EX-31.2) — 15KB
• algm-ex32_1.htm (EX-32.1) — 9KB
• algm-ex32_2.htm (EX-32.2) — 9KB
• algm-ex97_1.htm (EX-97.1) — 34KB
• img122904710_0.jpg (GRAPHIC) — 789KB
• 0000950170-24-063770.txt ( ) — 19348KB
• algm-20240329.xsd (EX-101.SCH) — 2268KB
• algm-20240329_htm.xml (XML) — 3625KB

Forward Looking Statements

Forward Looking Statements 1 PART I. Item 1.

Business

Business 3 Item 1A.

Risk Factors

Risk Factors 18 Item 1B. Unresolved Staff Comments 32 Item 1C. Cybersecurity 32 Item 2.

Properties

Properties 34 Item 3.

Legal Proceedings

Legal Proceedings 34 Item 4. Mine Safety Disclosures 35 PART II. Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 35 Item 6. Reserved 36 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 37 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 48 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 48 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 49 Item 9A.

Controls and Procedures

Controls and Procedures 49 Item 9B. Other Information 49 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 50 PART III. Item 10. Directors, Executive Officers and Corporate Governance 51 Item 11.

Executive Compensation

Executive Compensation 51 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 52 Item 13. Certain Relationships and Related Transactions, and Director Independence 52 Item 14. Principal Accountant Fees and Services 52 PART IV. Item 15. Exhibit and Financial Statement Schedules 53 Item 16. Form 10-K Summary 57

Signatures

Signatures 58 Index to Consolidated Financial Statements F- 1 Reports of Independent Registered Public Accounting Firms F- 2 Consolidated Balance Sheets F- 5 Consolidated Statements of Operations F- 6 Consolidated Statements of Comprehensive Income F- 7 Consolidated Statements of Changes in Stockholders' Equity F- 8 Consolidated Statements of Cash Flows F- 9

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements F- 11 FORWARD LOO KING STATEMENTS This Annual Report on Form 10-K (the "Annual Report") contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements other than statements of historical facts contained in this Annual Report, including statements regarding our future results of operations and financial position, business strategy, prospective products and the plans and objectives of management for future operations, may be forward-looking statements. These statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.

Bu siness

Item 1. Bu siness. Our Mission Our mission is to be a global leader in semiconductor sensing and power solutions for motion control and energy-efficient systems in automotive and industrial applications, moving the world to a safer and more sustainable future. Company Overview The Company is a leading global designer, developer, fabless manufacturer and marketer of sensor integrated circuits ("ICs") and application-specific analog power ICs enabling the most important emerging technologies in the automotive and industrial markets. We are a leading supplier of magnetic sensor IC solutions worldwide based on market share, driven by our market leadership in the automotive market. Our products are foundational to automotive and industrial electronic systems. Our sensor ICs enable our customers to precisely measure motion, speed, position and current, while our power ICs include high-temperature and high-voltage capable motor drivers, power management ICs, light emitting diode ("LED") driver ICs and isolated gate drivers. We believe that our technology expertise, combined with our deep applications knowledge and strong customer relationships, enable us to develop solutions that provide more value to customers than typical ICs. Compared to a typical IC, our solutions are more integrated, intelligent and sophisticated for complex applications and easier for customers to use. Growth in the global semiconductor industry has traditionally been driven by the consumer market. Looking ahead, industry growth is expected to be driven by technology mega trends in the automotive and industrial markets. These mega trends have created requirements for new technologies in vehicles, both powertrain and in the cabin, to support vehicle electrification and advanced driver assistance systems ("ADAS"). These shifts also require technology to enable intelligence and automation in factories and energy efficiency in clean energy applications. According to industry experts, these mega

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View this 10-K filing on SEC EDGAR