Activist Fund Raging Capital Jettisons 2 Massive Positions, Plus Noteworthy Moves from 2 Other Hedge Funds

Raging Capital Sells Entire Position in This Semiconductor Manufacturer

In a separate 13G filing with the SEC, Raging Capital Management LLC also disclosed that it has jettisoned its entire stake in Alpha and Omega Semiconductor Ltd (NASDAQ:AOSL). The fund’s previous 13G filing on the company, submitted with the SEC in mid-February, showed that Raging Capital owned 2.59 million shares of the manufacturer of power semiconductors, which accounted for 11.7% of the company’s shares. In fact, Raging Capital owned the 2.59 million-share position at the end of 2015 as well, so Mr. Martin’s investment firm earned a decent return on its investment in 2016, as the company’s shares are 38% in the green year-to-date. Raging Capital acquired a stake in the power semiconductors manufacturer in the second quarter of 2014, and those shares had traded nearly flat from the end of that quarter through the end of 2015.

Alpha and Omega Semiconductor Ltd (NASDAQ:AOSL)’s portfolio of products is mainly used in high-volume applications such as personal computers, flat panel TVs, LED lighting, smart phones, battery packs, and other applications. The company’s revenue for the six months that ended December 31 was $161.26 million, which was a decrease from $169.55 million in revenue reported for the same period of the prior year. A 10.4% decrease in unit shipments of power discrete and power IC products was somewhat offset by a 6.3% increase in average selling prices. The number of hedgies monitored by Insider Monkey with positions in the company increased to ten from seven during the December quarter, with those ten funds amassing nearly 18% of the company’s shares. Royce & Associates, managed by Chuck Royce, owns 622,354 shares of Alpha and Omega Semiconductor Ltd (NASDAQ:AOSL) as of the end of 2015.

Disclosure: None