A securities class action has been filed in the USDC –C.D.CA. against Semtech Corporation (SMTC) (“Semtech” or the “Company”) on behalf of all persons or entities who purchased or otherwise acquired Semtech securities between August 27, 2024, and February 7, 2025 (the “Class Period”).

Semtech is a semiconductor, digital systems and cloud connectivity service provider. It designs, manufactures, and markets an array of products for commercial applications, the majority of which are sold into the infrastructure, highend consumer and industrial end markets. The Company’s portfolio includes integrated circuits, modules, gateways, routers, and other specialized products. Its portfolio includes CopperEdge products, which can be used in active copper cables, or ACCs.

The claim arises on February 7, 2025, after the market closed, when Semtech revealed that CopperEdge sales would not “ramp-up over the course of fiscal year 2026.”

The complaint 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, thereby harming investors.

If you purchased Semtech securities during the Class Period, and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.

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Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.