NEW YORK, Sept. 19, 2023 (GLOBE NEWSWIRE) — Attention Semtech Corporation (“Semtech”) (NASDAQ: SMTC) shareholders:
The Law Offices of Vincent Wong announce that an investigation has commenced into Semtech and certain of its officers and directors regarding potential securities fraud. The investigation concerns, in part, the below:
On August 31, 2022, Semtech announced lower than expected guidance for the fourth quarter 2022 due to “weakness in the consumer sector.” The Company blamed the downturn on “macroeconomic softness” and ongoing pandemic-related challenges in China. Following this news, Semtech’s stock price fell by $12.54 per share, or approximately 27% to close at $33.65 per share. Further, on March 29, 2023, Semtech announced weak guidance for the first quarter of fiscal 2024 attributing it to lower than expected consumer demand and an extremely “weak China.” Following this news, Semtech’s stock price fell by $6.86 per share, or approximately 21% to close at $25.25 per share.
If you suffered a loss on your investment in Semtech, contact us about potential recovery by using the link below. There is no cost or obligation to you.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
Vincent Wong, Esq.
39 East Broadway
New York, NY 10002
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