Deutsche Bank Lowers Alpha and Omega Price Target To $14

Alpha and Omega AOSL delivered solid F1Q11 results despite muted demand from Computing & Consumer markets, Deutsche Bank reports. “GM upside was encouraging but is likely to be short lived as higher wafer costs & less benign pricing begin to impact margins,” Deutsche Bank writes. “AOSL should benefit from a recovery in Computing demand, but meaningful GM improvement is unlikely in the ST.” Deutsche Bank said that it retains its Hold rating but is lowering its PT from $15 to $14.