Sivers Semiconductors: A 700M SEK Cash Injection and a Rising Analyst Target Can’t Stop the Selloff
Published on 07/03/2026 at 02:55 | Redaktion boerse-global.de
The Swedish photonics and RF chip maker Sivers Semiconductors is living a paradox. Its stock has shed nearly half its value in a month, yet a major analyst just lifted its price target, and a heavily oversubscribed capital raise has padded the balance sheet with 700 million Swedish kronor. On Thursday, the shares closed at €4.39 in Stockholm after sliding another 18.39% — a rout that has erased about a quarter of the company’s market worth in just seven trading days.
The placement, which closed on 1 July, saw 12.28 million new shares issued at 57 kronor each — roughly 9.7% below the prior day’s close. Institutional investors from Sweden and abroad oversubscribed the accelerated bookbuild several times over, with both new and existing shareholders taking part. The strong demand, however, did nothing to arrest the freefall; the stock now trades well below the issue price, meaning those who bought at the placement are already sitting on a paper loss.
The bleeding has been brutal across timeframes. On a monthly basis, the equity is down nearly 48%, and it sits 57.36% below the year’s high of €10.23 reached in early June. The 50-day moving average of €6.11 has been left far behind — the current price is almost 29% under it — while the 100-day average at €3.49 is now the nearest technical support. The relative strength index, at 34.9, is approaching oversold territory, but the annualized 30-day volatility of roughly 225% underscores just how violently sentiment has swung.
None of this has deterred Redeye. The independent research house raised its price target on the stock to 68 Swedish kronor, pointing to a strengthened capital structure following the placement. Redeye estimates the dilution from the latest round at just 3% of outstanding shares — far more moderate than the April capital raise. The contrast between that bullish target and the current market price is one of the widest among Nordic semiconductor small-caps.
Should investors sell immediately? Or is it worth buying Sivers Semiconductors?
CEO Vickram Vathulya framed the fundraising as more than a balance-sheet fix. The fresh capital will be used to invest proactively in indium-phosphide manufacturing capacity for the photonics division, a move necessitated by long lead times for production equipment. Sivers also plans to expand its field presence to serve a growing customer base and compress development cycles to convert its pipeline faster. Vathulya did not rule out bolt-on acquisitions with synergies.
Yet uncertainty lingers. Insider lock-up agreements from the April placement — covering board members Bami Bastani, Karin Raj and Todd Thomson, as well as CEO Vathulya and CFO Heine Thorsgaard — run until 16 July. No additional lock-ups were attached to the new shares, as the existing restrictions remain in force. Separately, market observers note that multiple regulatory probes are underway against the company, though details remain unclear. These investigations add a layer of risk that the bullish narrative has so far failed to dispel.
On the commercial side, the picture is more encouraging. Sivers’ order backlog swelled 77% in the first five months of 2026 to almost $799 million. That divergence — short-term revenue weakness versus a swelling long-term pipeline — has kept some analysts constructive. But the broad sell-off has spared few investors, including the institutions that bought at the discounted placement price.
Sivers Semiconductors at a turning point? This analysis reveals what investors need to know now.
The next quarterly report in August will be the first real test of whether the new capital can accelerate revenue conversion from that pipeline. Until then, the gap between Redeye’s optimistic target and the market’s grim valuation will remain one of the starkest bets in Nordic tech. With volatility at 225% and insider lock-ups about to expire, the stock is unlikely to get any calmer soon.
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Sivers Semiconductors Stock: New Analysis - 3 July
Fresh Sivers Semiconductors information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
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