EOG Resources completes $5.6 billion acquisition of Encino Acquisition Partners
Xue Bing, Executive Vice President of Worldwide Sales and Business Development at Alpha & Omega Semiconductor Ltd (NASDAQ:AOSL), recently executed a stock sale. According to a Form 4 filing with the Securities and Exchange Commission, Bing sold 1,242 shares of common stock on January 13, 2025, at a price of $35 per share, totaling $43,470.
Following this transaction, Bing retains ownership of 115,368 shares, which includes various unvested shares and restricted share units subject to performance and service-based vesting conditions. The sale was conducted under a Rule 10b5-1 trading plan, which Bing adopted on September 3, 2024.
In other recent news, Alpha & Omega Semiconductor has witnessed noteworthy changes in its financial oversight and performance. The company has dismissed Baker Tilly US, LLP as its independent registered public accounting firm, replacing it with Deloitte & Touche LLP for the fiscal year ending June 30, 2025. This adjustment comes despite the remediation of a previously identified material weakness in internal control over financial reporting.
In terms of financial performance, Alpha & Omega Semiconductor reported a modest year-over-year increase in revenue for the Fiscal First Quarter of 2025, with a sequential rise in earnings per share. The company posted a revenue of $181.9 million, marking a 0.7% increase from the previous year and a 12.8% sequential increase, with non-GAAP EPS reaching $0.21.
Amid these developments, financial services firm Stifel adjusted its outlook on the company, reducing the price target to $27.00 from the previous $34.00, while maintaining a Sell rating. Conversely, Benchmark, another analyst firm, lowered its price target for the company to $40 from its previous $42 while maintaining a Buy rating. Both revisions followed a revenue beat for the September quarter and a forecast for the December quarter indicating a slight revenue dip.
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