Alpha and Omega Semiconductor Limited $AOSL Shares Sold by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP cut its Alpha and Omega Semiconductor stake by 80.6% in the second quarter, selling 50,784 shares and retaining 12,250 shares valued at approximately $580,000.
• Analyst sentiment remains mixed, with three Buy, three Hold and one Sell rating. The stock has a consensus rating of Hold and an average price target of $41.50, compared with its recent $28.28 price.
• Alpha and Omega Semiconductor beat quarterly EPS expectations, reporting a loss of $0.13 per share versus the anticipated $0.24 loss, while revenue reached $170.37 million. However, revenue declined 3.5% year over year and the company remained unprofitable.

Engineers Gate Manager LP lowered its stake in shares of Alpha and Omega Semiconductor Limited (NASDAQ:AOSL - Free Report) by 80.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,250 shares of the semiconductor company's stock after selling 50,784 shares during the period. Engineers Gate Manager LP's holdings in Alpha and Omega Semiconductor were worth $580,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Integrated Wealth Concepts LLC acquired a new stake in Alpha and Omega Semiconductor during the 2nd quarter worth $40,000. Principal Financial Group Inc. boosted its position in Alpha and Omega Semiconductor by 1.0% during the first 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 second quarter worth about $182,000. Public Employees Retirement System of Ohio acquired a new position in Alpha and Omega Semiconductor during the second quarter worth about $197,000. Finally, Quantinno Capital Management LP grew its stake in 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 valued at $825,000 after acquiring an additional 4,915 shares in the last quarter. Institutional investors and hedge funds own 78.97% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on AOSL shares. Williams Trading set a $45.00 price objective on shares of Alpha and Omega Semiconductor in a report on Thursday, August 13th. B. Riley Financial decreased their target price on shares of Alpha and Omega Semiconductor from $38.00 to $34.00 and set a "neutral" rating on the stock in a report on Thursday, August 13th. Lake Street Capital began coverage on shares of Alpha and Omega Semiconductor in a report on Thursday, June 25th. They issued a "buy" rating and a $58.00 target price on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Alpha and Omega Semiconductor in a report on Friday, July 17th. Finally, Needham & Company LLC cut their price target on shares of Alpha and Omega Semiconductor from $50.00 to $45.00 and set a "buy" rating for the company in a report on Thursday, August 13th. 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's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $41.50.

Alpha and Omega Semiconductor Price Performance

Shares of Alpha and Omega Semiconductor stock opened at $28.28 on Wednesday. The stock has a market capitalization of $855.75 million, a price-to-earnings ratio of -20.06 and a beta of 2.56. The business has a 50-day moving average of $28.89 and a 200 day moving average of $33.38. Alpha and Omega Semiconductor Limited has a 12 month low of $17.01 and a 12 month high of $54.34.

Alpha and Omega Semiconductor (NASDAQ:AOSL - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The semiconductor company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.11. The company 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 firm's revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.02 EPS. Equities research analysts anticipate 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 and other semiconductor solutions used to control, convert and manage electrical power in electronic systems.

The company's products include power MOSFETs, insulated-gate bipolar transistors, power ICs, transient-voltage-suppression devices and related products. These components are used in applications such as computers, smartphones, consumer electronics, telecommunications equipment, industrial systems, automotive products and other power-sensitive devices.

Founded in 2000, Alpha and Omega Semiconductor combines semiconductor design with manufacturing, assembly and testing capabilities.

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