Allegro MicroSystems expands board with new director

MANCHESTER, N.H. - Allegro (WA:ALEP) MicroSystems, Inc. (NASDAQ:ALGM), known for its power and sensing semiconductor solutions, announced the appointment of Dr. Krishna Palepu to its Board of Directors as an independent director. The appointment, effective as of January 31, 2025, adds a seasoned expert in strategy, governance, and emerging markets to Allegro’s governance structure. According to InvestingPro data, the company, currently valued at $927 million, trades at an attractive P/E ratio of 4.12, suggesting potential undervaluation relative to peers.

Dr. Palepu, the Ross Graham Walker Professor of Business Administration at Harvard Business School, is recognized for his academic research on globalization, with a focus on India and China, and the effectiveness of corporate boards. His professional background includes serving on multiple public company boards and a fellowship with the International Academy of Management. Want deeper insights into Allegro’s valuation and growth potential? InvestingPro subscribers have access to over 10 additional exclusive ProTips and comprehensive financial metrics.

Yoshihiro ’Zen’ Suzuki, Chairman of the Board at Allegro, expressed enthusiasm about Dr. Palepu’s addition to the board, citing his unique blend of academic and practical experience in technology and semiconductor sectors. Suzuki believes that Dr. Palepu’s insights will be invaluable as the company navigates international business complexities and pursues further growth.

Dr. Palepu’s academic qualifications include a master’s degree in Electronics from Andhra University, an MBA-equivalent from the Indian Institute of Management, Calcutta, and a Ph.D. in Management from the MIT Sloan School of Management. He conveyed his eagerness to contribute to Allegro’s progress, drawing upon his expertise in corporate governance, emerging markets, and global strategy.

Allegro MicroSystems specializes in solutions that drive automotive, clean energy, and industrial automation advancements, focusing on efficiency, performance, and sustainability. The company prides itself on its commitment to quality and its role as a pioneer in automotive-grade technology. InvestingPro analysis shows the company maintains strong financial health with a 29% gross profit margin and robust liquidity, though analysts anticipate some revenue challenges in the current fiscal year.

This announcement is based on a press release statement from Allegro MicroSystems, Inc. and contains no forward-looking statements. It is intended to provide shareholders and the public with current information regarding the company’s board composition and strategic direction.

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