"With Semtech stock valued at $2.5 billion, burning cash, carrying $1.2 billion in net debt, and still a year away from profitability, it's hard to call this stock a buy today."

That's how I concluded my write-up of Semtech's (NASDAQ: SMTC) earnings report yesterday -- with a caution to investors not to buy the Internet-of-Things stock despite its apparently strong earnings beat. Little did I know how bad things would get -- and how fast.

This morning, Semtech announced CEO Paul Pickle is leaving the company, effective... yesterday.

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Source Fool.com