Wednesday 30th of March 2022 08:44:12 AM
Alpha and Omega Semiconductor attracts price target raise at B.Riley
- B. Riley raised price target for Alpha and Omega Semiconductor (NASDAQ:AOSL +1.8%) to $79 from $67 with Buy rating retained.
- The revised price target suggests potential upside of 22% on stock's last close.
- Analyst Craig A. Ellis told AOSL is among the investment firm's top 25 high covered personal computer exposure stocks, citing "vNDR suggested AOSL remains on allocation across tier-1 customers to sustain favorable price/mix gross margin tailwinds and visibility to $1.0B sales and $6.50 EPS potential in long term(CY24)."
- The stock attracts Bullish view just weeks after its solid beat reported on both lines in its second quarter earnings results.
- Guidance Recap: The semiconductor company said it expects its Q3 revenue to be approximately $194 million, plus or minus $3 million vs. $194.03M consensus with Non-GAAP gross margin expected to be approximately 36.0% plus or minus 1%.
- Wall Street analysts maintain a Buy consensus on the stock, to which Seeking Alpha Quant System strengthens at Strong Buy rating.