Alpha and Omega Semiconductor Ltd. (NASDAQ:AOSL) shares are trading higher Tuesday. The move follows a major manufacturing milestone in India.

Inauguration of Sanand OSAT Facility

AOSL marked a historic footprint expansion on Tuesday. The company officially inaugurated Kaynes Semicon's OSAT facility in Sanand, Gujarat. Indian Prime Minister Narendra Modi attended the ceremony. This facility represents a implementation of the AOS proprietary IPM5 manufacturing process.

IPM5 Production Commences

The facility has started high-volume production of Intelligent Power Module (IPM5) products. These modules integrate 17 different dies into one package. They provide intelligence for motor controls and energy-efficient appliances. The project moved from groundbreaking to delivery in 14 months.

Market Context and Background

On February 5, the company projected third quarter sales between $150 million and $170 million. This compared to analyst estimates of $153.5 million.

The company reported a quarterly loss of 16 cents per share, missing the analyst consensus estimate of 8 cents by 92.77%. This represents a 277.78% slide from the 9 cents per share earned during the same period last year.

On the top line, quarterly sales reached $162.263 million, edging out the analyst consensus estimate of $160.667 million by 0.99%. Despite the beat, revenue fell 6.29% compared to the $173.156 million reported in the prior-year period, according to Benzinga Pro.

Price Action: Alpha and Omega Semiconductor stock is up 14.28% at $31.30 at the time of publication Tuesday, according to Benzinga Pro data.

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