UPDATE: Deutsche Bank Lowers PT on Alpha & Omega to $13

Deutsche Bank is out with its report today on Alpha & Omegan AOSL, lowering its PT to $13 from $15. In its report, Deutsche Bank writes, "Alpha & Omega reported roughly in-line F4Q results as slightly lower revs and GM were offset by lower opex and a slightly lower tax rate. That said, mgmt's F1Q12 guidance was considerably lower than DBe (revs 18% below and GM 4ppt below DBe) as mgmt trimmed expectations citing weaker macro conditions. We lower our P/T to $13 on lower estimates and maintain our Hold rating." Shares of AOSL closed Wednesday at $9.63, down 3.41% from Tuesday's close.