AQR Capital Management LLC Purchases New Position in Semtech Co. (NASDAQ:SMTC)

AQR Capital Management LLC acquired a new stake in Semtech Co. (NASDAQ:SMTC) in the second quarter, according to its most recent filing with the SEC. The fund acquired 167,149 shares of the semiconductor company’s stock, valued at approximately $4,939,000. AQR Capital Management LLC owned approximately 0.26% of Semtech at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fidelis Capital Partners LLC purchased a new stake in shares of Semtech in the first quarter worth about $27,000. Ridgewood Investments LLC bought a new position in Semtech in the 2nd quarter valued at $44,000. GAMMA Investing LLC grew its position in shares of Semtech by 83.9% during the 1st quarter. GAMMA Investing LLC now owns 1,694 shares of the semiconductor company’s stock valued at $47,000 after purchasing an additional 773 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Semtech by 205.0% in the first quarter. Versant Capital Management Inc now owns 1,873 shares of the semiconductor company’s stock worth $51,000 after purchasing an additional 1,259 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Semtech in the second quarter worth $60,000.

Semtech Stock Up 2.7 %

Shares of NASDAQ:SMTC opened at $41.68 on Friday. The stock has a market cap of $3.14 billion, a PE ratio of -2.46 and a beta of 1.54. The company’s fifty day moving average is $38.61 and its 200 day moving average is $35.35. Semtech Co. has a 52 week low of $13.13 and a 52 week high of $49.53.

Semtech (NASDAQ:SMTC) last released its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.10 by $0.01. Semtech had a negative return on equity of 154.99% and a negative net margin of 107.21%. The firm had revenue of $215.40 million for the quarter, compared to the consensus estimate of $212.30 million. During the same quarter in the previous year, the business earned ($0.06) earnings per share. The company’s quarterly revenue was down 9.6% on a year-over-year basis. Sell-side analysts anticipate that Semtech Co. will post -0.07 EPS for the current year.

Analyst Ratings Changes

SMTC has been the topic of a number of research analyst reports. Roth Mkm restated a “buy” rating and issued a $50.00 target price on shares of Semtech in a research note on Wednesday, August 28th. Summit Insights cut shares of Semtech from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. B. Riley lifted their target price on shares of Semtech from $58.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Benchmark reissued a “buy” rating and issued a $56.00 price target on shares of Semtech in a report on Monday, September 9th. Finally, Stifel Nicolaus lifted their price objective on shares of Semtech from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.60.

Semtech Company Profile

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor and advanced algorithms. It provides signal integrity products, including a portfolio of optical data communications and video transport products used in various infrastructure, and industrial applications; a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications.