Lawsuit filed for Investors who lost money with shares of Semtech Corporation (NASDAQ: SMTC)

An investor, who purchased shares of Semtech Corporation (NASDAQ: SMTC), filed a lawsuit over alleged violations of Federal Securities Laws by Semtech Corporation.

Investors who purchased shares of Semtech Corporation (NASDAQ: SMTC) have certain options and for certain investors are short and strict deadlines running. Deadline: April 22, 2025. NASDAQ: SMTC investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Camarillo, CA based Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor and advanced algorithms. Semtech Corporation (NASDAQ: SMTC) reported that itsTotal Revenue rose from $756.53 million for the 12 months period that ended on January 31, 2023, to $868.75 million for the 12 months period that ended on January 31, 2024, and that its Net Income of $61.38 million for the 12 months period that ended on January 31, 2024 turned to a Net Loss over $1.09 billion for the 12 months ended period that ended on January 31, 2024.

On February 7, 2025, after the market closed, Semtech Corporation revealed that CopperEdge sales would not "ramp-up over the course of fiscal year 2026." Based on "feedback from a server rack customer" and "discussions with end users of the server rack platform," the Company would implement certain "rack architecture changes." As a result, the Company expected CopperEdge sales to be "lower than the Company's previously disclosed floor case estimate of $50 million."

Shares of Semtech Corporation (NASDAQ: SMTC) declined from $79.52 per share on January 22, 2025, to as low as $34.25 per share on February 28, 2025.

The plaintiff claims that between August 27, 2024 and February 7, 2025, the Defendants failed to disclose to investors that its CopperEdge products did not meet the needs of its server rack customer or end users, that, as a result, the CopperEdge products required certain rack architecture changes, that, as a result of the foregoing, the Company's sales of CopperEdge products would not ramp-up during fiscal 2026, that, as a result, sales of CopperEdge products would be lower-than-expected, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Those who purchased shares of Semtech Corporation (NASDAQ: SMTC) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.