Semtech Corporation (NASDAQ: SMTC)

This lawsuit is for anyone who acquired securities in Semtech Corporation (NASDAQ: SMTC) from August 27, 2024 through February 7, 2025.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by failing to timely disclose that the Company expected net sales from its CopperEdge products to be lower than the Company previously disclosed.

On February 7, 2025, after market hours, Semtech disclosed that for fiscal year 2026, net sales from its CopperEdge products are expected to be lower than previously disclosed “due to rack architecture changes, with no expected ramp-up over the course of fiscal year 2026,” based on “recent feedback from a server rack customer and correlated to discussions with end users of the server rack platform.” On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Semtech Corporation (NASDAQ: SMTC) from August 27, 2024 through February 7, 2025 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.