1. A securities class action lawsuit against Semtech has been filed. 2. Class period for the lawsuit is August 27, 2024, to February 7, 2025. 3. Semtech announced CopperEdge sales would not meet prior expectations. 4. Company's stock price fell 31% following the sales announcement. 5. Investors have until April 22, 2025, to join the lawsuit.
The 31% drop in stock price indicates severe investor reaction to reduced sales forecasts. Similar past instances show long-term stability can be compromised after major sales outlook adjustments.
The legal action directly ties to a significant decline in stock value, impacting investor confidence.
Immediate stock influence post-announcement indicates short-term volatility until further updates on business health emerge.
/PRNewswire/ -- Berger Montague PC advises investors that a securities class action lawsuit has been filed against Semtech Corporation ("Semtech" or the "Company") (NASDAQ: SMTC) on behalf of purchasers of Semtech securities between August 27, 2024 through February 7, 2025, inclusive (the "Class Period").
Investors who purchased or acquired SEMTECH securities during the Class Period may, no later than APRIL 22, 2025, seek to be appointed as a lead plaintiff representative of the class. To learn your rights, CLICK HERE.
Headquartered in Camarillo, Calif., Semtech is a semiconductor, digital systems, and cloud connectivity service provider. The Company's portfolio includes CopperEdge products, which can be used in active copper cables.
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 customer and discussions with end users, the Company would implement certain "rack architecture changes" and, as a result, Semtech 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.
To learn your rights or for more information, CLICK HERE or please contact Berger Montague: Andrew Abramowitz at [email protected] or (215) 875-3015, or Peter Hamner at [email protected].
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the Court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.
Berger Montague, with offices in Philadelphia, Minneapolis, Delaware, Washington, D.C., San Diego, San Francisco and Chicago, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.
Andrew Abramowitz, Senior Counsel
Berger Montague
(215) 875-3015
[email protected]
Peter Hamner
Berger Montague PC
[email protected]
SOURCE Berger Montague