Investors who purchased Semtech stock between August 27, 2024 and February 7, 2025 may be eligible for
compensation
MARLTON,
N.J., March 14, 2025 /PRNewswire/ -- Console
& Associates, P.C. is investigating potential claims against
Semtech Corporation (NASDAQ: SMTC) on behalf of investors who
purchased the stock during the period of August 27, 2024 through February 7, 2025 (the "Class Period"). Investors
who suffered significant losses are encouraged to contact the
securities attorneys at Console & Associates to discuss their
legal options and protect their rights.
What Happened
Semtech Corporation, a developer and manufacturer of analog and
mixed-signal semiconductor products and advanced algorithms, is
facing allegations that the company and certain executives violated
federal securities laws by making materially false and misleading
statements to investors.
According to the complaint, defendants throughout the Class
Period failed to disclose that:
- Semtech's CopperEdge products did not meet the needs of its
server rack customer or end users
- The CopperEdge products required certain rack architecture
changes
- Due to these issues, sales of CopperEdge products would not
ramp up during fiscal 2026 as promised
- As a result, sales of CopperEdge products would be lower than
expected
The truth was revealed on February 7,
2025, when Semtech disclosed that CopperEdge sales would not
"ramp-up over the course of fiscal year 2026" as previously
indicated. The company admitted that based on "feedback from a
server rack customer" and "discussions with end users of the server
rack platform," Semtech would need to implement certain "rack
architecture changes." Consequently, Semtech expected CopperEdge
sales to be "lower than the Company's previously disclosed floor
case estimate of $50 million."
Following this announcement, Semtech's stock price plummeted
approximately 31%, causing significant harm to investors.
Investor Rights
Securities law requires public companies to provide accurate
information to shareholders. Console & Associates, P.C. is
committed to holding Semtech and its executives accountable for any
violations of these laws and recovering compensation for harmed
investors.
Shareholders who purchased Semtech stock between August 27, 2024 and February 7, 2025 may be entitled to compensation.
Console & Associates handles securities class actions on a
contingent fee basis, meaning you pay nothing unless we recover
money on your behalf.
Contact Us Today
If you purchased Semtech Corporation (NASDAQ: SMTC) stock
between August 27, 2024 and
February 7, 2025 and would like to
learn more about your legal rights, please contact Console &
Associates, P.C. by completing our secure case evaluation form for
a free, no-obligation consultation about your potential claim.
This press release may be considered Attorney Advertising in
some jurisdictions under applicable law and ethical rules.
Console & Associates, P.C.
866-778-5500
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SOURCE Console & Associates, P.C.
