Overview

A class action lawsuit has been filed against Semtech Corporation (“Semtech” or the “Company”) and certain of the Company’s former senior executive officers alleging violations of the federal securities laws.  The Company’s common stock trades on the NASDAQ exchange under the symbol “SMTC.”

The Semtech class action lawsuit was brought on behalf of all persons and entities who purchased or otherwise acquired Semtech securities between August 27, 2024, and February 7, 2025, both dates inclusive (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, high-end 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.

Semtech revealed that CopperEdge sales would not ramp up over the course of fiscal year 2026.  Based on feedback from a server rack customer and discussions with end users of the server rack platform, the Company would implement 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.

The Semtech class action lawsuit alleges that Defendants, throughout the Class Period, 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 year 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.

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If you purchased or otherwise acquired Semtech securities between August 27, 2024, and February 7, 2025, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at [email protected]. 

The deadline to apply to the Court to serve as lead plaintiff in the Semtech class action lawsuit is April 22, 2025.