In a report released today, Craig Ellis from B.Riley FBR maintained a Buy rating on Alpha and Omega (NASDAQ: AOSL), with a price target of $23. The company’s shares opened today at $13.27, close to its 52-week low of $12.92.
Ellis said:
“Alpha & Omega Semiconductor (AOSL) reports 8/8 AMC. We expect in-line to slightly better results vs. our at-Street $113.0M (+4.2%)/$0.27. We believe a better-than-initially expected notebook PC and industrial demand backdrop can more than offset pockets of Consumer and Comms weakness, aided by strong AOSL execution. Supporting these views are recent INTC PC and TXN Analog beats and raises plus our own intra- quarter high frequency data analysis, which pointed to contra-seasonal MOSFET and integrated IC demand strength and favorable prices. Samsung smartphone demand and wafer price hikes are risks. We expect T2-year quarterly execution strength to persist and for mgmt to reassert confidence in HSD CY18 Y/Y growth.”
According to TipRanks.com, Ellis is a top 25 analyst with an average return of 35.5% and a 76.0% success rate. Ellis covers the Consumer Goods sector, focusing on stocks such as Sequans Communications S A, Axcelis Technologies, and Rudolph Technologies.
Currently, the analyst consensus on Alpha and Omega is a Hold with an average price target of $18.
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The company has a one-year high of $18.72 and a one-year low of $12.92. Currently, Alpha and Omega has an average volume of 127.8K.
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Alpha & Omega Semiconductor Ltd. designs, develops and supplies power semiconductor products. It offers analog switches, insulated-gate bipolar transistors, metal-oxide-semiconductor field-effect transistors, power integrated circuits, and transient voltage suppressors.
