NEW YORK, Feb. 10, 2025 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP is investigating potential claims against Semtech Corporation (“Semtech” or the “Company”) (NASDAQ:SMTC). The investigation concerns whether Semtech and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.

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On February 10, 2025, Semtech announced that net sales of its CopperEdge products were expected to fall below its prior floor estimate of $50 million in fiscal year 2026, citing changes in its server rack architecture due to poor feedback from a key customer. This news follows positive statements during its Q3 2024 earnings call in November, where management projected strong sales growth. On this news, the price of Semtech shares declined by $16.91 per share, or approximately 31%, from $54.51 per share on February 7, 2025, to close at $37.60 on February 10, 2025.

If you purchased or otherwise acquired Semtech securities, have information, or would like to learn more about this investigation, contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out the form below to discuss your rights or interests with respect to these matters without any cost to you.

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Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars.

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Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-699-1180
https://www.kmllp.com
investigations@kmllp.com