Sivers Semiconductors: CEO’s Pre-Blackout Buy Puts a Floor Under a Stock in Free Fall
Published on 07/27/2026 at 20:32 | Redaktion boerse-global.de
The silence is about to descend on Sivers Semiconductors, but the noise that preceded it has been deafening.
The Swedish chip and photonics company enters its mandatory closed period at the end of July, a 30-day trading blackout that bars insiders from buying or selling shares ahead of the second-quarter earnings report. That report, originally due earlier in the summer, has been pushed back to August as the company races to meet US accounting standards — a prerequisite for its planned dual listing on the Nasdaq in New York.
But in the final hours before the quiet period kicked in, the boardroom sent a decidedly mixed signal to the market.
A Tale of Two Insiders
CEO Vickram Vathulya stepped up to the plate, snapping up 70,000 additional shares on the open market. The purchase brings his total holdings to 4,540,076 shares, supplemented by 3.7 million employee stock options. Market participants have read the move as a vote of confidence — a rare bullish gesture in a summer defined by red ink.
Should investors sell immediately? Or is it worth buying Sivers Semiconductors?
The same cannot be said for his colleagues in the boardroom.
Chairman Bami Bastani, once the lock-up period expired on July 16, sold 275,000 shares and transferred another 130,000 as a gift. Fellow board member Todd Thomson, acting through his vehicle Headwaters Capital LLC, trimmed his position by 950,000 shares. The timing was no coincidence: a large capital raise earlier in the summer had placed roughly 700 million Swedish kronor at 57 kronor per share, and the lock-up attached to that placement had just lifted.
The divergence between the CEO’s buying and the chairman’s selling has left investors parsing the tea leaves. Is Vathulya’s purchase a genuine signal of undervaluation, or simply a gesture to calm nerves after a brutal sell-off?
The Numbers Tell a Grim Story
There is no sugar-coating the damage. Over the past 30 days, the stock has shed 52.94% of its value, landing at €2.81. That puts it 72.51% below the 52-week high of €10.23 reached in early June. The secondary article, using a slightly different measurement window, reports a 48.99% decline over 30 days and a 70.21% drop from the peak — the discrepancy reflects different closing prices on the day of reporting, but the trajectory is unmistakable.
The trigger was the lock-up expiry on July 16. Early investors and insiders, finally free to liquidate positions they had held since the capital raise, did so in volume. The resulting supply shock sent the stock into a tailspin.
There are, however, two faint counter-signals. The first is Vathulya’s purchase. The second: short seller Voleon has reduced its net short position below the 0.5% reporting threshold, suggesting that at least one bearish player sees less downside ahead.
The New York Gambit
The timing of the blackout is tightly linked to Sivers’ strategic ambitions. The company is pushing toward a dual listing on the Nasdaq in New York, targeting completion by the end of 2026. To get there, it must undergo an “audit uplift” — aligning its consolidated financial statements with the standards of the Public Company Accounting Oversight Board (PCAOB). That process has forced a shift in the reporting calendar, with the second-quarter results now due in August.
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Management has framed the move as a response to demand from international institutional investors, who prefer the disclosure and governance standards of US-listed companies. The August report will be the first major publication under the new framework, and it will be closely watched for evidence that the company’s operational story is gaining traction.
What Comes Next
Sivers’ core businesses — photonics and radio-frequency chips — target high-growth markets including AI data centers, satellite communications, and defense. Several production ramp-ups are expected to contribute more meaningfully to revenue in the coming fiscal year. The August earnings release will be the first test of whether those expectations are translating into hard numbers.
For now, the stock remains deeply wounded. The annualized volatility of 163.90% tells its own story about market jitters. With the blackout now in effect, no insider trading will provide clues for the next 30 days. Investors will have to wait for the earnings report to see whether the CEO’s last-minute buy was a prescient bet or a lonely gesture in a losing battle.
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Sivers Semiconductors Stock: New Analysis - 27 July
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