tags:

• thesis/fraud
• analyst/edwin-dorsey ...

https://thebearcave.substack.com/p/problems-at-allegro-microsystems?publication_id=26828&post_id=122209303&isFreemail=true

Allegro MicroSystems (NASDAQ: ALGM — $7.45 billion) describes itself as “a leading global designer, developer, manufacturer and marketer of sensor integrated circuits.” Investors believe the company is a play on the electric vehicle revolution, a bet on the growth of clean energy, and a special situation trading at a discounted price. In reality, Allegro MicroSystems is rife with conflicts and irregularities including numerous executive resignations, two auditor dismissals, and a major supplier that is owned by the company’s largest customer and controlling shareholder.

For a sense of the peculiarities surrounding Allegro MicroSystems, investors can turn to the company’s most recent 10-Q, filed for the quarter ended December 23, 2022. (Yes, December 23.) Allegro MicroSystems discloses, in part,