See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Alpha and Omega Semiconductor Limited (AOSL) - free report >>
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Alpha and Omega Semiconductor Limited (AOSL) - free report >>
Image: Bigstock
Alpha and Omega (AOSL) Stock Jumps 6.3%: Will It Continue to Soar?
Alpha and Omega Semiconductor (AOSL - Free Report) shares soared 6.3% in the last trading session to close at $33.61. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 9.2% gain over the past four weeks.
Alpha and Omega Semiconductor extended its rally, driven by its strengthening momentum across new gaming systems and PC graphics card platforms. Moreover, increasing uptake of gaming applications as well as robust DrMOS and digital power solutions are benefiting the company’s graphics card business. This remains a major positive.
Further, Alpha and Omega Semiconductor’s expanding manufacturing capacity is a tailwind. Ramping up capacity at the company’s JV fab in Chongqing is helping it in gaining traction among large-scale customers.
This chipmaker is expected to post quarterly earnings of $0.95 per share in its upcoming report, which represents a year-over-year change of +72.7%. Revenues are expected to be $180 million, up 18.8% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Alpha and Omega, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AOSL going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>