Alpha and Omega Semiconductor (NASDAQ:AOSL) Share Price Breaks Above Fifty Day Moving Average Following Analyst Downgrade

Alpha and Omega Semiconductor Limited (NASDAQ:AOSL) crossed above its fifty 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 fifty 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.

Other equities analysts have also issued reports about the company. Williams Trading set a $45.00 price target on 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 research report on Thursday, October 15th. Needham & Company LLC lowered their price objective on shares of Alpha and Omega Semiconductor from $45.00 to $30.00 and set a “buy” rating for the company in a research note on Friday. Stifel Nicolaus lowered their price objective on shares of Alpha and Omega Semiconductor from $34.00 to $27.00 and set a “hold” rating for the company in a research note on Friday. Finally, B. Riley Financial dropped their target price on shares of 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 research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $32.80.

Institutional Investors Weigh In On Alpha and Omega Semiconductor

Hedge funds have recently added to or reduced their stakes in the company. Royce & Associates LP lifted its holdings in shares of Alpha and Omega Semiconductor by 19.7% in the 3rd quarter. Royce & Associates LP now owns 369,829 shares of the semiconductor company’s stock worth $10,170,000 after purchasing an additional 60,814 shares in the last quarter. Congress Asset Management Co. grew its position in 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 purchasing an additional 43,275 shares during the period. Empowered Funds LLC grew its position in Alpha and Omega Semiconductor by 9.9% in the 1st quarter. Empowered Funds LLC now owns 120,331 shares of the semiconductor company’s stock valued at $2,667,000 after purchasing an additional 10,790 shares during the period. Principal Financial Group Inc. grew its position in Alpha and Omega Semiconductor by 1.0% in the 1st quarter. Principal Financial Group Inc. now owns 120,075 shares of the semiconductor company’s stock valued at $2,661,000 after purchasing an additional 1,178 shares during the period. Finally, Quantinno Capital Management LP increased 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 purchasing an additional 4,915 shares in the last quarter. Institutional investors and hedge funds own 78.97% of the company’s stock.

Alpha and Omega Semiconductor Stock Performance

The firm has a market cap of $884.14 million, a P/E ratio of -18.94 and a beta of 2.69. The stock’s 50 day simple moving average is $25.23 and its 200 day simple moving average is $30.29.

Alpha and Omega Semiconductor (NASDAQ:AOSL) last announced its quarterly earnings results on Thursday, November 5th. The semiconductor company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.07. The business had revenue of $177.76 million for the quarter, compared to analysts’ expectations of $176.20 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 for the quarter was down 2.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.13 EPS. As a group, analysts forecast that Alpha and Omega Semiconductor Limited will post -1.70 EPS for the current fiscal 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.