Alpha and Omega Semiconductor (NASDAQ:AOSL) Stock Crosses Above Fifty Day Moving Average Following Analyst Downgrade

Key Points

• Alpha and Omega Semiconductor shares rose above their 50-day moving average after Wall Street Zen upgraded the stock from Sell to Hold. Shares last traded at $29.17, versus a 50-day average of $25.23.
• Analyst sentiment remains mixed, with a consensus Hold rating and an average price target of $32.80. Recent target cuts included Stifel Nicolaus to $27 and Needham to $30.
• The company’s latest quarterly loss was narrower than analysts expected, and revenue slightly exceeded forecasts; however, revenue fell 2.6% year over year, and the company posted a negative net margin.

Alpha and Omega Semiconductor Limited (NASDAQ:AOSL - Get Free Report)'s stock price crossed above its 50 day moving average during trading on Monday after Wall Street Zen upgraded the stock from a sell rating to a hold rating. The stock has a 50 day moving average of $25.23 and traded as high as $29.90. Alpha and Omega Semiconductor shares last traded at $29.17, with a volume of 1,436,282 shares.

A number of other brokerages also recently issued reports on AOSL. Stifel Nicolaus reduced their price target on Alpha and Omega Semiconductor from $34.00 to $27.00 and set a "hold" rating on the stock in a research report on Friday. Weiss Ratings reiterated a "sell (d-)" rating on shares of Alpha and Omega Semiconductor in a research report on Thursday, October 15th. Williams Trading set a $45.00 target price on Alpha and Omega Semiconductor in a research report on Thursday, August 13th. Needham & Company LLC reduced their target price on Alpha and Omega Semiconductor from $45.00 to $30.00 and set a "buy" rating on the stock in a report on Friday. Finally, B. Riley Financial decreased their price target on Alpha and Omega Semiconductor from $25.00 to $22.00 and set a "neutral" rating on the stock in a research report on Friday. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $32.80.

Hedge Funds Weigh In On Alpha and Omega Semiconductor

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Congress Asset Management Co. lifted its stake in shares of Alpha and Omega Semiconductor by 21.3% in the 3rd quarter. Congress Asset Management Co. now owns 246,735 shares of the semiconductor company's stock valued at $6,785,000 after acquiring an additional 43,275 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Alpha and Omega Semiconductor during the 1st quarter valued at $784,000. Globeflex Capital L P bought a new stake in Alpha and Omega Semiconductor during the 2nd quarter worth $182,000. Public Employees Retirement System of Ohio bought a new stake in Alpha and Omega Semiconductor during the 2nd quarter worth $197,000. Finally, Arizona State Retirement System bought a new stake in Alpha and Omega Semiconductor during the 2nd quarter worth $321,000. Institutional investors own 78.97% of the company's stock.

Alpha and Omega Semiconductor Stock Performance

The business has a fifty day simple moving average of $25.23 and a 200-day simple moving average of $30.29. The firm has a market cap of $884.14 million, a price-to-earnings ratio of -18.94 and a beta of 2.69.

Alpha and Omega Semiconductor (NASDAQ:AOSL - Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The semiconductor company reported ($0.07) EPS for the quarter, beating analysts' consensus estimates of ($0.14) by $0.07. The firm had revenue of $177.76 million for the quarter, compared to analyst estimates of $176.20 million. Alpha and Omega Semiconductor had a negative return on equity of 4.88% and a negative net margin of 6.23%. The business's revenue for the quarter was down 2.6% on a year-over-year basis. During the same period last year, the firm posted $0.13 earnings per share. On average, equities analysts anticipate that Alpha and Omega Semiconductor Limited will post -1.70 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 MOSFETs, power integrated circuits, transient voltage suppressors, insulated-gate bipolar transistors and other power semiconductor devices used to manage, convert and protect electrical power.

The company's products are used in applications including personal computers, servers, telecommunications equipment, consumer electronics, industrial systems, automotive equipment and power supplies.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.