Glancy Prongay & Murray LLP reminds investors of the upcoming April 22, 2025 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Semtech Corporation (“Semtech” or the “Company”) (NASDAQ: SMTC) securities between August 27, 2024 and February 7, 2025, inclusive (the “Class Period”).

IF YOU SUFFERED A LOSS ON YOUR SEMTECH INVESTMENTS, CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS UNDER THE FEDERAL SECURITIES LAWS.

What Happened?

On February 7, 2025, after the market closed, Semtech revealed that CopperEdge sales would not “ramp-up over the course of fiscal year 2026,” based on “feedback from a server rack customer,” “discussions with end users of the server rack platform,” and 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.”

On this news, Semtech’s stock price fell $16.91, or 31%, to close at $37.60 per share on February 10, 2025, on unusually heavy trading volume.

What Is The Lawsuit About?

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that its CopperEdge products did not meet the needs of its server rack customer or end users; (2) that, as a result, the CopperEdge products required certain rack architecture changes; (3) that, as a result of the foregoing, the Company’s sales of CopperEdge products would not ramp-up during fiscal 2026; (4) that, as a result, sales of CopperEdge products would be lower-than-expected; and (5) 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.

If you purchased or otherwise acquired Semtech securities during the Class Period, you may move the Court no later than April 22, 2025 to request appointment as lead plaintiff in this putative class action lawsuit.

Contact Us To Participate or Learn More:

If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:

Charles Linehan, Esq.,

Glancy Prongay & Murray LLP,

1925 Century Park East, Suite 2100,

Los Angeles California 90067

Email: shareholders@glancylaw.com

Telephone: 310-201-9150,

Toll-Free: 888-773-9224

Visit our website at www.glancylaw.com.

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If you inquire by email, please include your mailing address, telephone number and number of shares purchased.

To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250225087383/en/