Zacks Investment Research cut shares of Alpha and Omega Semiconductor Ltd (NASDAQ:AOSL) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.

According to Zacks, “Alpha and Omega Semiconductor Limited is engaged in designing, developing and supplying a broad range of power semiconductors globally, including a portfolio of Power MOSFET and Power IC products. The Company seeks to differentiate itself by integrating its expertise in device physics, process technology, design and advanced packaging to optimize product performance and cost. Its portfolio of products targets high-volume end-market applications, such as notebooks, netbooks, flat panel displays, mobile phone battery packs, set-top boxes, portable media players and power supplies. The products are incorporated into devices by original equipment manufacturers, or OEMs. The Company utilizes third-party foundries for all of its wafer fabrication and it deploys and implements its proprietary MOSFET processes at these third party foundries. The Company relies upon its in-house capacity and an associated provider for most of its packaging and testing requirements. “

Several other brokerages also recently issued reports on AOSL. B. Riley reissued a buy rating and set a $30.00 price objective on shares of Alpha and Omega Semiconductor in a research note on Thursday, February 9th. TheStreet downgraded shares of Alpha and Omega Semiconductor from a b rating to a c+ rating in a research note on Thursday, February 9th.

Alpha and Omega Semiconductor (NASDAQ:AOSL) opened at 17.43 on Thursday. Alpha and Omega Semiconductor has a 1-year low of $10.57 and a 1-year high of $23.93. The stock’s 50 day moving average price is $19.83 and its 200-day moving average price is $21.09. The company has a market cap of $411.44 million, a PE ratio of 59.90 and a beta of 0.37.

Alpha and Omega Semiconductor (NASDAQ:AOSL) last announced its quarterly earnings results on Wednesday, February 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.05. Alpha and Omega Semiconductor had a net margin of 1.86% and a return on equity of 2.71%. The company had revenue of $94.07 million for the quarter, compared to the consensus estimate of $93.27 million. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. The company’s revenue for the quarter was up 18.7% compared to the same quarter last year. On average, analysts forecast that Alpha and Omega Semiconductor will post $0.61 earnings per share for the current year.

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Institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its stake in shares of Alpha and Omega Semiconductor by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,959,788 shares of the company’s stock worth $41,686,000 after buying an additional 38,191 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Alpha and Omega Semiconductor by 38.3% in the third quarter. JPMorgan Chase & Co. now owns 1,394,109 shares of the company’s stock worth $30,280,000 after buying an additional 385,824 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Alpha and Omega Semiconductor by 56.8% in the third quarter. Acadian Asset Management LLC now owns 889,393 shares of the company’s stock worth $19,316,000 after buying an additional 322,135 shares during the last quarter. Numeric Investors LLC raised its stake in shares of Alpha and Omega Semiconductor by 4.6% in the fourth quarter. Numeric Investors LLC now owns 755,252 shares of the company’s stock worth $16,064,000 after buying an additional 33,200 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Alpha and Omega Semiconductor by 5.5% in the fourth quarter. Renaissance Technologies LLC now owns 746,500 shares of the company’s stock worth $15,878,000 after buying an additional 39,100 shares during the last quarter. 68.61% of the stock is currently owned by institutional investors and hedge funds.

Alpha and Omega Semiconductor Company Profile

Alpha and Omega Semiconductor Limited is a designer, developer and global supplier of power semiconductors. The Company’s portfolio of power semiconductors includes approximately 1,600 products, as of June 30, 2016. The Company’s product portfolio consists of two categories: power discretes and power integrated circuits (ICs).

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