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Thursday, Apr 25, 2024

Semtech Delisting Delayed

A Nasdaq panel this week decided to put off making a decision on delisting the semiconductor maker Semtech Corp. in order to give the company additional time to restate financial results from earlier this year. The Camarillo-based supplier faces delisting for failing to comply with required deadlines to file quarterly reports. Semtech plans to restate financial statements from the first and second quarter to record additional non-cash compensation expense related to stock option grants. The company was notified Monday that a Nasdaq Listing Qualifications Panel stayed any determinations to suspend Semtech securities from trading until the review process is complete. Semtech will release on Nov. 30 revenue and other selected financial results for the third quarter ending October 29.

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