ALGM — Needham Initiation (Nov 2020)

Key Points

• Buy Rating with $27 Price Target
• Allegro is a leading supplier of magnetic sensors and power ICs targeting motion control and energy-efficient systems in auto and industrial markets
• Market leader in its core domains
• Strong positioning for automotive and industrial end-markets
• Attractive valuation with multi-year growth drivers

Investment Thesis

Allegro benefits from long product design cycles in automotive creating multi-year revenue visibility and competitive moats. The company's magnetic sensors and power IC portfolios position it well for continuing growth in electrification and efficiency trends.

Source

• File: ALGM-Needham-initiation-23Nov2020.pdf
• Location: Dropbox/2. Semi/_Individual Stock/1. Semis/1. Automotive/ALGM/
• Date: November 23, 2020

Related

• ALGM
• ALGM-CS-initiation-nov2020
• Magnetic Sensors
• Automotive Semiconductors