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

Shares of Alpha and Omega Semiconductor Limited (NASDAQ:AOSL) gapped up before the market opened 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 traded.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AOSL. Lake Street Capital began coverage on Alpha and Omega Semiconductor in a research report on Thursday, June 25th. They issued a “buy” rating and a $58.00 price objective for the company. Stifel Nicolaus lowered their price objective on Alpha and Omega Semiconductor from $38.00 to $34.00 and set a “hold” rating on the stock in a research report on Monday, October 5th. Williams Trading set a $45.00 target price on shares of Alpha and Omega Semiconductor in a research note on Thursday, August 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alpha and Omega Semiconductor in a report on Thursday. Finally, B. Riley Financial lowered their price objective on 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. 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 company currently has an average rating of “Hold” and a consensus price target of $40.17.

Alpha and Omega Semiconductor Price Performance

The firm has a 50 day simple moving average of $27.08 and a 200-day simple 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) last issued its quarterly earnings data on Wednesday, August 12th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $168.00 million. During the same period last year, the business earned $0.02 earnings per share. The business’s revenue was down 3.5% on a year-over-year basis. On average, sell-side analysts forecast that Alpha and Omega Semiconductor Limited will post -1.70 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alpha and Omega Semiconductor

Hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its position in Alpha and Omega Semiconductor by 2,008.6% in the third quarter. Farther Finance Advisors LLC now owns 1,223 shares of the semiconductor company’s stock valued at $34,000 after buying an additional 1,165 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in Alpha and Omega Semiconductor during the second quarter worth about $40,000. GAMMA Investing LLC grew its stake in Alpha and Omega Semiconductor by 15.2% during the third quarter. GAMMA Investing LLC now owns 4,095 shares of the semiconductor company’s stock worth $113,000 after buying an additional 541 shares during the last quarter. Globeflex Capital L P acquired a new stake in shares of Alpha and Omega Semiconductor during the second quarter worth approximately $182,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Alpha and Omega Semiconductor during the second quarter worth approximately $197,000. 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 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.