Alpha and Omega Semiconductor Limited $AOSL Shares Purchased by Congress Asset Management Co.

Key Points

• Congress Asset Management increased its AOSL stake by 21.3% in the third quarter, purchasing 43,275 additional shares and bringing its holdings to 246,735 shares worth approximately $6.8 million.
• Analyst sentiment is mixed, with three Buy, three Hold, and one Sell rating. The stock has a consensus rating of Hold and an average price target of $40.17.
• AOSL shares opened at $29.24, well below their one-year high of $54.34. Although quarterly revenue of $170.37 million exceeded estimates and the adjusted loss was narrower than expected, revenue fell 3.5% year over year and the company remained unprofitable.

Congress Asset Management Co. raised its position in Alpha and Omega Semiconductor Limited (NASDAQ:AOSL - Free Report) by 21.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 246,735 shares of the semiconductor company's stock after purchasing an additional 43,275 shares during the quarter. Congress Asset Management Co. owned 0.81% of Alpha and Omega Semiconductor worth $6,785,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Integrated Wealth Concepts LLC acquired a new stake in Alpha and Omega Semiconductor in the 2nd quarter valued at approximately $40,000. Principal Financial Group Inc. boosted its position in Alpha and Omega Semiconductor by 1.0% during the 1st quarter. Principal Financial Group Inc. now owns 120,075 shares of the semiconductor company's stock worth $2,661,000 after acquiring an additional 1,178 shares during the last quarter. Globeflex Capital L P acquired a new position in Alpha and Omega Semiconductor during the 2nd quarter worth approximately $182,000. Public Employees Retirement System of Ohio bought a new position in shares of Alpha and Omega Semiconductor during the 2nd quarter worth approximately $197,000. Finally, Quantinno Capital Management LP grew its stake in shares of Alpha and Omega Semiconductor by 15.2% during the 1st quarter. Quantinno Capital Management LP now owns 37,248 shares of the semiconductor company's stock worth $825,000 after acquiring an additional 4,915 shares in the last quarter. 78.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Williams Trading set a $45.00 price objective on shares of Alpha and Omega Semiconductor in a research report on Thursday, August 13th. B. Riley Financial lowered their price target on shares of Alpha and Omega Semiconductor from $38.00 to $34.00 and set a "neutral" rating on the stock in a research note on Thursday, August 13th. Wall Street Zen cut shares of Alpha and Omega Semiconductor from a "hold" rating to a "sell" rating in a research report on Saturday, July 25th. Weiss Ratings restated a "sell (d-)" rating on shares of Alpha and Omega Semiconductor in a research note on Friday, July 17th. Finally, Lake Street Capital initiated coverage on Alpha and Omega Semiconductor in a report on Thursday, June 25th. They issued a "buy" rating and a $58.00 price objective for the company. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $40.17.

Alpha and Omega Semiconductor Price Performance

Shares of AOSL opened at $29.24 on Thursday. The company has a market cap of $886.26 million, a PE ratio of -20.74 and a beta of 2.64. The firm has a 50-day moving average of $28.14 and a 200-day moving average of $33.97. Alpha and Omega Semiconductor Limited has a one year low of $17.01 and a one year high of $54.34.

Alpha and Omega Semiconductor (NASDAQ:AOSL - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The semiconductor company reported ($0.13) EPS for the quarter, topping analysts' consensus estimates of ($0.24) by $0.11. The firm had revenue of $170.37 million during the quarter, compared to analysts' expectations of $168.00 million. Alpha and Omega Semiconductor had a negative net margin of 6.23% and a negative return on equity of 4.88%. The company's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.02 earnings per share. Analysts expect that Alpha and Omega Semiconductor Limited will post -1.7 earnings per share for the current year.

About Alpha and Omega Semiconductor

Alpha and Omega Semiconductor Limited NASDAQ: AOSL is a semiconductor company that designs, develops and supplies power-management products. Its portfolio includes power discrete devices, power integrated circuits, power modules and related products used to control, convert and manage electrical power in electronic systems.

The company's products include power MOSFETs, insulated-gate bipolar transistors, silicon carbide and gallium nitride devices, transient-voltage-suppression products, and various power-management integrated circuits.

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