Sivers Semiconductors: CEO Bets on Turnaround as Board Members Cash Out Ahead of Nasdaq Push
Published on 07/23/2026 at 12:02 | Redaktion boerse-global.de
A sharp divergence in insider trading is sending mixed signals to investors in Sivers Semiconductors, as the Swedish tech firm races to overhaul its accounting systems for a coveted dual listing on the Nasdaq in New York. While the chairman and a board member have been selling shares by the hundreds of thousands following the expiration of a lock-up period, the chief executive has been buying, creating a picture of a boardroom at odds over the company’s near-term prospects.
The stock has been caught in a violent downdraft. After shedding 58.77% over 30 days, the shares staged a modest recovery on Thursday, climbing 3.58% to €3.36. That bounce came after a particularly brutal session that saw the stock fall 13.40% to €3.24, bringing the monthly decline to 60.20%. The current price sits 67.16% below the 52-week high of €10.23 — a level that underscores the severity of the sell-off.
The catalyst for the selling pressure was unambiguous. On July 16, 2026, a lock-up agreement tied to a directed share issuance from April 16 expired, freeing insiders to trade their holdings for the first time in months. Within days, Chairman Bami Bastani had sold 275,000 shares. He also donated 60,000 shares to charitable organizations and transferred 70,000 to family members. Board member Todd Thomson, acting through his entity Headwaters Capital LLC, shed 950,000 shares by July 22.
CEO Vickram Vathulya took the opposite tack. He purchased 70,000 additional shares during the weakness, bringing his total holdings to 4,540,076 shares, alongside 3,700,000 employee options. The message is clear: one insider is reducing exposure while the other is doubling down.
Should investors sell immediately? Or is it worth buying Sivers Semiconductors?
The technical picture offers some relief. The 14-day relative strength index has risen to 39.1, exiting deeply oversold territory. That suggests the initial panic triggered by the lock-up expiry may be fading, though the stock remains under significant pressure.
The accounting overhaul is the strategic driver behind much of the current turbulence. Sivers is shifting its financial reporting to U.S. standards to meet the requirements of the Public Company Accounting Oversight Board, a prerequisite for listing on the Nasdaq. The transition has forced the company to delay its second-quarter 2026 earnings report, originally expected in early August, to August 27. The company is also restating its consolidated financial statements for 2024 and 2025 to align with PCAOB audit standards.
Vathulya framed the additional work as a necessary investment in credibility with international institutional investors — a constituency the company has barely tapped in Europe. The timeline for the Nasdaq listing remains fluid, but the reporting calendar is set: the third-quarter report will follow on November 26, 2026, and the fourth-quarter report on February 25, 2027.
Beyond the stock machinations, Sivers has been active on the capital front. The company raised approximately 600 million Swedish kronor through a directed share placement, with a separate source putting the figure closer to 700 million kronor. The funds are earmarked for expanding manufacturing capacity for indium phosphide lasers and optical amplifiers, key components for a growing order book that had reached $799 million by May 2026. Demand is being driven by three sectors: AI data center buildouts, automotive LiDAR, and satellite communications.
Additionally, on July 3, lender Bootstrap Europe exercised a conversion right on an existing convertible loan, creating new shares and further diluting existing holders.
Sivers Semiconductors at a turning point? This analysis reveals what investors need to know now.
The market capitalization now stands at roughly €889 million. The 14-day RSI of 37.9 remains below the traditional oversold threshold of 30, suggesting the stock has not yet reached a technical bottom by all measures. On July 28, the company enters its quiet period ahead of the earnings report, which will likely freeze any further insider trading until the numbers are out.
For now, the competing signals from the boardroom leave investors to weigh the CEO’s conviction against the chairman’s exit — a tension that will only be resolved when the delayed quarterly results land on August 27.
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