San Diego, CA -- (SBWIRE) -- 10/27/2023 -- An investigation was announced for investors in shares of Semtech Corporation (NASDAQ: SMTC) over potential breaches of fiduciary duties by certain directors at Semtech Corporation .

Investors who purchased shares of Semtech Corporation (NASDAQ: SMTC) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain Semtech officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.

Camarillo, CA based Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms.

On August 31, 2022, Semtech Corporation 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.

Further, on March 29, 2023, Semtech Corporation announced weak guidance for the first quarter of fiscal 2024 attributing it to lower than expected consumer demand and an extremely "weak China."

Shares of Semtech Corporation (NASDAQ: SMTC) declined from $29.97 per share on July 18, 2023, to as low as $14.91 per share on October 26, 2023.

Those who purchased shares of Semtech Corporation (NASDAQ: SMTC) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.