Alpha and Omega Semiconductor (NASDAQ:AOSL) Shares Gap Up - Here's What Happened

Key Points

• Alpha and Omega Semiconductor shares opened higher, rising from a previous close of $21.75 to $23.00 before settling at $22.349, up about 4.5%.
• Analyst sentiment remains mixed: three analysts rate the stock Buy, three Hold and one Sell, resulting in a consensus Hold rating and a $40.17 target price.
• The company beat quarterly EPS and revenue expectations, reporting a loss of $0.13 per share on $170.37 million in revenue, though revenue declined 3.5% year over year and profitability remained negative.

Alpha and Omega Semiconductor Limited (NASDAQ:AOSL - Get Free Report) shares gapped up prior to trading on Monday. The stock had previously closed at $21.75, but opened at $23.00. Alpha and Omega Semiconductor shares last traded at $22.3490, with a volume of 50,030 shares changing hands.

Analysts Set New Price Targets

AOSL has been the subject of several recent research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Alpha and Omega Semiconductor in a report on Thursday. B. Riley Financial reduced their price objective on shares of Alpha and Omega Semiconductor from $38.00 to $34.00 and set a "neutral" rating for the company in a research note on Thursday, August 13th. Williams Trading set a $45.00 price objective on shares of Alpha and Omega Semiconductor in a research note on Thursday, August 13th. Stifel Nicolaus decreased their price objective on shares of Alpha and Omega Semiconductor from $38.00 to $34.00 and set a "hold" rating for the company in a report on Monday, October 5th. Finally, Needham & Company LLC lowered their target price on shares of Alpha and Omega Semiconductor from $50.00 to $45.00 and set a "buy" rating on the stock in a research report on Thursday, August 13th. Three research 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. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $40.17.

Alpha and Omega Semiconductor Trading Up 4.5%

The company has a fifty day moving average of $27.08 and a two-hundred day moving average of $34.13. The stock has a market capitalization of $688.68 million, a price-to-earnings ratio of -16.21 and a beta of 2.64.

Alpha and Omega Semiconductor (NASDAQ:AOSL - Get Free Report) last announced 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. Alpha and Omega Semiconductor had a negative return on equity of 4.88% and a negative net margin of 6.23%. The company had revenue of $170.37 million for the quarter, compared to the consensus estimate of $168.00 million. During the same quarter last year, the company posted $0.02 earnings per share. The company's revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, sell-side analysts predict that Alpha and Omega Semiconductor Limited will post -1.70 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AOSL. Y Intercept Hong Kong Ltd bought a new position in shares of Alpha and Omega Semiconductor in the first quarter worth about $784,000. Counterpoint Mutual Funds LLC acquired a new position in shares of Alpha and Omega Semiconductor during the 1st quarter worth about $877,000. Congress Asset Management Co. lifted its position in shares of Alpha and Omega Semiconductor by 21.3% during the 3rd quarter. Congress Asset Management Co. now owns 246,735 shares of the semiconductor company's stock worth $6,785,000 after purchasing an additional 43,275 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in Alpha and Omega Semiconductor during the 1st quarter valued at approximately $244,000. Finally, Integrated Wealth Concepts LLC bought a new stake in Alpha and Omega Semiconductor during the 2nd quarter valued at approximately $40,000. Institutional investors and hedge funds own 78.97% of the company's stock.

Alpha and Omega Semiconductor Company Profile

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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