SUNNYVALE, Calif.—Lucas S. Chang, a director at Alpha & Omega Semiconductor Ltd (NASDAQ:AOSL), recently sold a significant portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Chang sold a total of 12,497 common shares on December 3, 2024. The shares were sold at prices ranging from $41.0846 to $42.02 per share, resulting in a total transaction value of approximately $518,158.
Following these transactions, Chang's direct ownership in the company stands at 25,204 shares. The sales were executed under a Rule 10b5-1 trading plan that Chang adopted on September 3, 2024, allowing him to sell the shares over a set period.
Alpha & Omega Semiconductor, based in Sunnyvale, California, is a provider of semiconductor devices used in a variety of electronic systems.
In other recent news, Alpha & Omega Semiconductor has had several significant developments. The company reported a slight year-over-year revenue increase for the Fiscal First Quarter of 2025, with a 12.8% sequential rise in earnings per share, reaching $0.21 on a non-GAAP basis. The reported revenue was $181.9 million, reflecting a 0.7% increase from the previous year.
In addition, Alpha & Omega Semiconductor announced a major change in its financial oversight structure, appointing Deloitte & Touche LLP as its new independent registered public accounting firm. This decision followed a period during which the company's previous auditor, Baker Tilly US, LLP, identified a material weakness in internal control over financial reporting, which has since been remediated.
Financial services firm Stifel revised its outlook on Alpha & Omega Semiconductor, lowering the price target from $34.00 to $27.00 while maintaining a Sell rating. On the other hand, Benchmark maintained a Buy rating but reduced its price target for the company to $40 from its previous $42. These adjustments followed recent financial performance and market conditions.
These recent developments highlight Alpha & Omega Semiconductor's ongoing financial performance and strategic decisions in the face of market and internal changes.
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