Alpha and Omega Semiconductor (NASDAQ:AOSL) Trading 7.4% Higher – Here’s What Happened

Alpha and Omega Semiconductor Limited (NASDAQ:AOSL) rose 7.4% during trading on Wednesday . The company traded as high as $37.20 and last traded at $37.3290. 336,260 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 673,052 shares. The stock had previously closed at $34.77.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Zacks Research upgraded shares of Alpha and Omega Semiconductor from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. Wall Street Zen raised Alpha and Omega Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. B. Riley Financial upped their target price on Alpha and Omega Semiconductor from $19.00 to $25.00 and gave the company a “neutral” rating in a research report on Monday, April 13th. 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 target on the stock. Finally, Lake Street Capital initiated coverage on Alpha and Omega Semiconductor in a research note on Thursday, June 25th. They issued a “buy” rating and a $58.00 price objective for the company. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Alpha and Omega Semiconductor has an average rating of “Hold” and an average target price of $40.00.

Alpha and Omega Semiconductor Stock Performance

The company has a 50-day moving average of $43.05 and a 200-day moving average of $30.53. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -10.57 and a beta of 2.55.

Alpha and Omega Semiconductor (NASDAQ:AOSL) last announced its earnings results on Wednesday, May 6th. The semiconductor company reported ($0.28) earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $160.07 million. During the same period last year, the business posted ($0.10) EPS. The company’s revenue was down .5% on a year-over-year basis. As a group, equities research analysts forecast that Alpha and Omega Semiconductor Limited will post -1.5 EPS for the current year.

Insider Buying and Selling at Alpha and Omega Semiconductor

In other Alpha and Omega Semiconductor news, CEO Stephen Chunping Chang sold 14,884 shares of the company’s stock in a transaction on Friday, April 17th. The shares were 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 owned 635,901 shares in the company, valued at approximately $21,919,507.47. This represents a 2.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Bing Xue sold 4,916 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $47.09, for a total transaction of $231,494.44. Following the completion of the sale, the executive vice president owned 123,660 shares of the company’s stock, valued at $5,823,149.40. This trade represents a 3.82% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 62,368 shares of company stock valued at $2,092,671. 16.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alpha and Omega Semiconductor

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of 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 worth $352,000 after purchasing an additional 624 shares in the last quarter. Royal Bank of Canada grew its holdings in Alpha and Omega Semiconductor by 9.2% during the 4th quarter. Royal Bank of Canada now owns 8,938 shares of the semiconductor company’s stock valued at $177,000 after buying an additional 755 shares during the last quarter. Deutsche Bank AG increased its position in Alpha and Omega Semiconductor by 1.8% during the fourth quarter. Deutsche Bank AG now owns 47,059 shares of the semiconductor company’s stock worth $932,000 after buying an additional 844 shares in the last quarter. Franklin Resources Inc. increased its position in Alpha and Omega Semiconductor by 5.5% during the fourth quarter. Franklin Resources Inc. now owns 20,281 shares of the semiconductor company’s stock worth $402,000 after buying an additional 1,053 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Alpha and Omega Semiconductor by 1.0% in 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. Institutional investors and hedge funds own 78.97% of the company’s stock.

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.