INVESTOR ALERT: Shareholder Class Action Lawsuit Filed Against Semtech Corporation (NASDAQ: SMTC); DiCello Levitt LLP Encourages Investors with Losses to Discuss Their Options with Counsel

/EIN News/ -- SAN DIEGO, March 26, 2025 (GLOBE NEWSWIRE) -- A class action lawsuit has been filed on behalf of all persons and entities that purchased or otherwise acquired Semtech Corporation (NASDAQ: SMTC) (“Semtech” or the “Company”) securities between August 27, 2024 and February 7, 2025 (the “Class Period”), charging the Company and certain senior executives with violations of the federal securities laws (collectively, “Defendants”).

Semtech investors have until April 22, 2025 to seek appointment as lead plaintiff of the Semtech class action lawsuit.

If you purchased or acquired Semtech securities between August 27, 2024 and February 7, 2025, and suffered substantial losses, and you wish to obtain additional information or serve as lead plaintiff in this lawsuit, you may submit your information and contact us here: https://dicellolevitt.com/securities/semtech/.

You can also contact DiCello Levitt attorneys Brian O’Mara or Ruben Peña by calling (888) 287-9005 or emailing investors@dicellolevitt.com.   Those who inquire by email are encouraged to include their mailing address, telephone number, and the number of shares purchased.

No Class Has Been Certified.   Until a class is certified, you are not represented by counsel unless you retain one.   You may select counsel of your choice.

Case Allegations

Semtech is a semiconductor, digital systems and cloud connectivity service provider. The Company designs, manufactures, and markets various products for commercial applications, including integrated circuits, modules, gateways, routers, and its trademarked CopperEdge products.

The Semtech lawsuit alleges that Defendants made materially false and/or misleading statements and failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose that: (1) Semtech’s CopperEdge products failed to meet the needs of a server rack customer and end users; (2) its CopperEdge products required server rack redesigns; (3) sales of CopperEdge products would not ramp-up during fiscal 2026, as Semtech previously expected; and (4) as a result, sales of CopperEdge products would be lower-than-expected.

The truth emerged on February 7, 2025, when Semtech filed a current report on Form 8-K with the U.S. Securities and Exchange Commission, announcing that “[f]or fiscal year 2026, net sales from its CopperEdgeTM products used in active copper cables are expected to be lower than the Company’s previously disclosed floor case estimate of $50 million due to rack architecture changes, with no expected ramp-up over the course of fiscal year 2026. The Company’s revised estimates are 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 Semtech’s common stock fell by $16.91 per share, or 31%, to close at $37.60 per share on February 10, 2025.

About DiCello Levitt

At DiCello Levitt, we are dedicated to achieving justice for our clients through class action, business-to-business, public client, whistleblower, personal injury, civil and human rights, and mass tort litigation. Our lawyers are highly respected for their ability to litigate and win cases – whether by trial, settlement, or otherwise – for people who have suffered harm, global corporations that have sustained significant economic losses, and public clients seeking to protect their citizens’ rights and interests. Every day, we put our reputations – and our capital – on the line for our clients.

DiCello Levitt has achieved top recognition as Plaintiffs Firm of the Year and Trial Innovation Firm of the Year by the National Law Journal, in addition to its top-tier Chambers and Benchmark ratings. The New York Law Journal also recently recognized DiCello Levitt as a Distinguished Leader in trial innovation. For more information about the Firm, including recent trial victories and case resolutions, please visit www.dicellolevitt.com.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Media Contact

Amy Coker
4747 Executive Drive, Suite 240
San Diego, CA 92121
619-963-2426
investors@dicellolevitt.com