Alpha and Omega Semiconductor (NASDAQ:AOSL) Shares Gap Up Following Analyst Upgrade

Alpha and Omega Semiconductor Limited (NASDAQ:AOSL) gapped up before the market opened on Thursday after Stifel Nicolaus raised their price target on the stock from $36.00 to $42.00. The stock had previously closed at $41.98, but opened at $46.64. Stifel Nicolaus currently has a hold rating on the stock. Alpha and Omega Semiconductor shares last traded at $43.4440, with a volume of 92,095 shares trading hands.

A number of other equities research analysts have also recently issued reports on the stock. B. Riley Financial upped their price objective on shares of Alpha and Omega Semiconductor from $19.00 to $25.00 and gave the company a “neutral” rating in a research note on Monday, April 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alpha and Omega Semiconductor in a research report on Monday, April 20th. Wall Street Zen downgraded shares of Alpha and Omega Semiconductor from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Zacks Research upgraded shares of Alpha and Omega Semiconductor from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. Finally, Needham & Company LLC started coverage on Alpha and Omega Semiconductor in a research note on Friday, May 1st. They set a “buy” rating and a $50.00 price objective on the stock. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $40.00.

Insider Activity

In other news, EVP Bing Xue sold 4,916 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $47.09, for a total value of $231,494.44. Following the transaction, the executive vice president owned 123,660 shares in the company, valued at approximately $5,823,149.40. This trade represents a 3.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Stephen Chunping Chang sold 14,884 shares of Alpha and Omega Semiconductor stock in a transaction on Friday, April 17th. The stock was sold at an average price of $34.47, for a total transaction of $513,051.48. Following the completion of the transaction, the chief executive officer directly owned 635,901 shares in the company, valued at approximately $21,919,507.47. The trade was a 2.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 62,368 shares of company stock valued at $2,092,671. 16.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alpha and Omega Semiconductor

Several hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada grew its stake in shares of Alpha and Omega Semiconductor by 7.4% in the first quarter. Royal Bank of Canada now owns 11,939 shares of the semiconductor company’s stock worth $297,000 after purchasing an additional 820 shares during the last quarter. AQR Capital Management LLC bought a new position in Alpha and Omega Semiconductor during the 1st quarter valued at approximately $471,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Alpha and Omega Semiconductor by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,167 shares of the semiconductor company’s stock valued at $352,000 after purchasing an additional 624 shares during the last quarter. Strs Ohio purchased a new stake in Alpha and Omega Semiconductor in the 1st quarter worth approximately $70,000. Finally, Creative Planning bought a new stake in shares of Alpha and Omega Semiconductor in the 2nd quarter worth approximately $248,000. 78.97% of the stock is owned by institutional investors.

Alpha and Omega Semiconductor Stock Performance

The stock has a market capitalization of $1.27 billion, a P/E ratio of -12.08 and a beta of 2.55. The stock has a 50-day moving average price of $42.33 and a two-hundred day moving average price of $28.99.

Alpha and Omega Semiconductor (NASDAQ:AOSL) last announced its earnings results on Wednesday, May 6th. The semiconductor company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.06. Alpha and Omega Semiconductor had a negative return on equity of 4.30% and a negative net margin of 15.51%.The company had revenue of $163.79 million during the quarter, compared to the consensus estimate of $160.07 million. During the same quarter in the prior year, the company earned ($0.10) earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. Equities analysts anticipate that Alpha and Omega Semiconductor Limited will post -1.5 earnings per share for the current fiscal year.

About Alpha and Omega Semiconductor

Alpha and Omega Semiconductor Limited (NASDAQ: AOSL) is a designer and supplier of power semiconductor components used in power management applications across a range of electronic systems. The company offers a broad portfolio of discrete and integrated power devices, including power MOSFETs, rectifiers, voltage regulators, and power management ICs. These products are optimized for high efficiency, compact form factors and thermal performance, catering to the growing demands of energy-sensitive applications in computing, consumer electronics, communications and industrial markets.

Since its founding in 2000, Alpha and Omega Semiconductor has leveraged in-house design expertise and strategic partnerships with manufacturing facilities to deliver scalable, high-volume production.