Shares of Semtech fell as much as 33% on February 10, 2025, after the company announced that net sales of its CopperEdge products are expected to fall below its prior floor estimate of $50 million in fiscal year 2026, citing changes in the firm's server rack architecture due to poor feedback from a key customer. This follows positive statements during its Q3 2024 earnings call in November, where management projected strong sales growth.
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Semtech Corporation(SMTC)
In re Semtech Corporation Securities Litigation, No. 2:25-cv-01474 (C.D. Cal.)