Semtech(US:SMTC) Prnewswireยท2025-04-09 12:44Core Viewpoint - A securities class action lawsuit has been filed against Semtech Corporation for alleged issues related to its CopperEdge product sales during the specified class period from August 27, 2024, to February 7, 2025 [1][2]. Company Overview - Semtech Corporation is headquartered in Camarillo, California, and operates as a semiconductor, digital systems, and cloud connectivity service provider. The company's product portfolio includes CopperEdge products, which are utilized in active copper cables [2]. Recent Developments - On February 7, 2025, Semtech announced that CopperEdge sales would not meet expectations for fiscal year 2026, indicating that sales would be lower than the previously estimated floor case of $50 million due to customer feedback and necessary architectural changes [3]. - Following this announcement, Semtech's stock price experienced a significant decline, dropping by $16.91, or 31%, to close at $37.60 per share on February 10, 2025 [3]. Legal Context - Investors who purchased Semtech securities during the class period have until April 22, 2025, to seek appointment as lead plaintiff representatives in the class action lawsuit [2].