Sivers Semiconductors: Insider Sales, Fleeting Short Bets, and a Tax Charge Converge Ahead of Q2 Report
Published on 08/15/2026 at 13:51 | Redaktion boerse-global.de
The Swedish chipmaker has spent the summer navigating a gauntlet of capital raises, insider transactions, and regulatory crosswinds — and the next test arrives on August 27, when its second-quarter numbers land before the Stockholm open.
That report will give investors their first full look at how a non-cash payroll tax charge of SEK 42.9 million — triggered by the share price rally inflating tax liabilities tied to employee stock programs — hits the income statement. It will also show whether a recently announced development pact with SemiNex, valued at $3.4 million for next-generation InP light sources aimed at AI data center links, has begun to leave operational traces.
Insider activity draws scrutiny
The run-up to those results has been anything but quiet. After a lock-up period tied to an April directed share issue expired, several insiders moved portions of their holdings in late July. Chairman Bami Bastani sold 275,000 shares on July 16, retaining 381,360, while also donating 60,000 shares to charitable organizations and transferring 70,000 to family members. Board member Todd Thomson, acting through his firm Headwaters Capital LLC, disposed of 950,000 shares by July 22 and gifted an additional 50,000, leaving him with 477,027.
Market watchers tend to parse such filings closely, though the mix of charitable giving and family transfers suggests motives beyond pure profit-taking. Lock-up expirations are, after all, a mechanical event — and the sellers' remaining stakes indicate they have not exited entirely.
Should investors sell immediately? Or is it worth buying Sivers Semiconductors?
Short sellers come and go
Professional bearish bets also flickered across the tape this month. D. E. Shaw disclosed a new short position on August 4, with Jane Street following a day later. By August 7, Jane Street had already dropped off the disclosure list, suggesting the position was closed almost as quickly as it opened.
The brief flurry of short interest lands in a period of pronounced volatility. The stock's annualized 30-day volatility stands at 170 percent, and while the shares have clawed back ground — up 7.7 percent over the past month — they remain roughly 63 percent below the 52-week high of SEK 10.23. On Friday, the equity gained 4.0 percent to close at EUR 3.82, following a separate session that saw a 5.2 percent advance to EUR 3.83.
A pipeline of capital and catalysts
The financing treadmill has been relentless. Early July brought a directed issue of roughly 12.3 million shares at SEK 57 apiece, raising SEK 700 million with demand from institutional investors including DNB Fund Disruptive Opportunities and Storebrand Sverige that repeatedly outstripped supply. That followed a May placement that generated SEK 125 million at SEK 14.5 per share. Most recently, Bootstrap Europe IV SCSp exercised all its warrants, subscribing for approximately 1.66 million new shares and injecting around SEK 7.5 million — lifting the total share count to 356,740,332. Since that event, the stock has gained 38.9 percent.
The capital raises trace back to operational strain. First-quarter 2026 revenue fell 22 percent year over year to SEK 61.9 million, hampered by the US government shutdown in late 2025 and delayed defense budgets. Adjusted EBITDA slipped to minus SEK 13.8 million from minus SEK 6 million a year earlier. The order pipeline, however, tells a brighter story: it has grown 77 percent since the start of the year to $799 million as of May.
Policy tailwind
A Reuters report that the US Federal Communications Commission is preparing rules to block imports of new Chinese optical transceivers for data centers gave the entire optical components group a lift in early August, and Sivers rode that sector-wide wave. The regulatory development aligns with the company's deepening push into data center infrastructure — the SemiNex program, announced earlier this month, targets precisely that market, with customer sampling and initial production ramps slated for the second half of 2027.
With the relative strength index at 50.7, the stock sits in neutral territory — neither overbought nor oversold. Given the news flow of recent weeks, that equilibrium may not hold for long.
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