Sivers Semiconductors: Management Buys In as Lock-Up Expiry and Accounting Headwinds Pummel Shares
Published on 07/17/2026 at 12:13 | Redaktion boerse-global.de
While a wave of selling pressure washed over Sivers Semiconductors following the expiration of a lock-up agreement and a pair of unwelcome financial disclosures, the company’s top brass sent a clear counter-signal last week. Chief executive Vickram Vathulya and five board members — Bami Bastani, Karin Raj, Helena Svancar, Todd Thomson and Joakim Nideborn — purchased additional shares on July 13, with each new position locked up for a further 12 months. Vathulya alone added roughly 950,000 Swedish kronor worth of stock. The insider buying stands in sharp contrast to the market’s recent mood: the stock has shed about two-thirds of its value from its June 3 record of €10.23.
The lock-up expiry on July 16 unleashed a torrent of selling from early investors who had been barred from disposing of their holdings. The Swedish semiconductor and photonics specialist saw its shares slide 13.48% that day to close at €3.07, and the losses extended into Friday with an additional 6.13% drop to €2.88. Over the previous seven sessions the equity had already lost 33%, and over the past month the decline widened to 68%. The market capitalisation now stands at roughly €1.14 billion, while the annualised 30-day volatility has surged to 141.69%.
These price moves, however, are not purely a product of the lock-up expiry. Sivers Semiconductors recently revised its 2025 net loss upwards from 186.5 million to 222.6 million Swedish kronor and restated its 2024 revenue downward from 243.7 million to 219.2 million kronor — a correction that typically erodes investor confidence in prior reporting. At the same time, the company raised roughly 700 million kronor through a share placement priced at 57 kronor each, a 9.7% discount to the prevailing market rate. The resulting dilution has amplified the stock’s decline and left shareholders weighing the benefit of fresh capital against the cost of a larger share count.
Should investors sell immediately? Or is it worth buying Sivers Semiconductors?
Adding to the uncertainty, Sivers announced on July 9 that it would delay its second-quarter 2026 earnings report to August 27, citing the need to align its accounting with the standards of the US Public Company Accounting Oversight Board. The so-called “audit uplift” is a prerequisite for a dual listing on a US exchange, a move the company hopes will broaden its international institutional investor base. The delay means investors will have to wait another month for clarity on whether the operating business is stabilising.
Technically, the stock is flashing oversold signals. The 14-day relative strength index stood at 32.1 after Friday’s slide, having been at 33.1 earlier in the week — both readings just below the threshold that analysts typically regard as oversold. With the share price now 52.84% below its 50-day moving average of €6.11, the selling appears stretched by most technical measures. Whether the management’s vote of confidence proves prescient or premature will likely become clearer when the delayed quarterly numbers are released on August 27.
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