Alpha & Omega Semiconductor's stock plummeted 24.08% over a 24-hour period, with significant declines occurring in post-market trading following the release of its fiscal third-quarter 2026 financial results.

The power semiconductor supplier reported a net loss that widened to $13.8 million, compared to a loss of $10.8 million a year earlier, while revenue dipped 0.5% year-over-year to $163.8 million. The company's adjusted loss per share came in at $0.28, which was worse than the prior period, and gross margins contracted.

Management cited ongoing weakness in consumer applications and seasonal softness in the PC market, overshadowing strength in advanced computing segments like AI and servers. The company's revenue forecast for the upcoming quarter and cautious analyst sentiment, with price targets significantly below the stock's pre-earnings level, contributed to the negative investor reaction.