Sivers Semiconductors: Accounting Revisions and Insider Divergence Deepen the Sell-Off
Published on 07/24/2026 at 02:40 | Redaktion boerse-global.de
The sell-off in Sivers Semiconductors has accelerated sharply, with the stock shedding another 8.08 percent on Thursday to close at €2.98. That extends a brutal 30-day stretch that has now erased 63.41 percent of the share price — a decline that has left even bullish analysts struggling to defend the narrative against a cascade of negative catalysts.
The latest leg lower comes just two days after the company disclosed a fresh batch of insider transactions that followed the expiration of a lock-up agreement tied to an April 16 capital raise. Under the terms of that deal, executives and board members had been barred from selling shares until July 16. Once the restriction lifted, the signals from the C-suite could hardly have been more contradictory.
Chief executive Vickram Vathulya added 70,000 shares to his holdings, bringing his total stake to 4,540,076. Chairman Bami Bastani, by contrast, moved in the opposite direction: he donated 60,000 shares to charitable organizations, gifted 70,000 to family members, and sold 275,000 shares outright on July 16. That divergence at the top of the corporate hierarchy has not gone unnoticed by market participants, who now face a leadership sending two very different messages about the company's prospects.
The selling pressure arrives alongside a far-reaching restatement of the company's financials. Sivers has revised its consolidated accounts for both 2024 and 2025 to align with standards set by the U.S. Public Company Accounting Oversight Board — a prerequisite for the Nasdaq Stockholm-listed firm's planned secondary listing in New York. The adjustments have been punishing. For 2025, the operating loss widened to SEK 178 million from the previously reported SEK 141 million, while the net loss swelled to approximately SEK 223 million. The 2024 revision was even starker: net revenue was cut retroactively from SEK 243.7 million to SEK 219.2 million, and the annual loss ballooned from SEK 116.3 million to SEK 183.9 million.
Should investors sell immediately? Or is it worth buying Sivers Semiconductors?
The accounting overhaul is not the only regulatory headache. Sweden's Economic Crime Authority is investigating whether information about the Nasdaq listing plans was deliberately leaked. A post on the social media platform X hinted at the potential secondary listing roughly 48 hours before Sivers confirmed the news via a formal press release, and prosecutors are now examining whether that constituted a breach of market abuse rules.
The stock now trades well below both its 50-day moving average of €5.99 and its 100-day average of €4.00. The relative strength index stands at 36.4, approaching but not yet in oversold territory. With a 30-day annualized volatility of 162.11 percent, Sivers ranks among the most turbulent names in the Stockholm technology sector.
A closed period under Article 19(11) of the EU Market Abuse Regulation takes effect on July 28, barring persons discharging managerial responsibilities from trading until the second-quarter interim report is published on August 27 before the market opens. That window — which this week produced such conflicting insider signals — is about to slam shut.
Sivers Semiconductors at a turning point? This analysis reveals what investors need to know now.
The technical damage has overwhelmed a series of positive developments from earlier in the year. In May, the company announced plans for a U.S. secondary listing, was admitted to a Nasdaq Stockholm index, and received funding from the U.S. Microelectronics Commons program. Analysts at Morgan Stanley have identified Sivers as one of the three leading suppliers of lasers for co-packaged optics, a technology gaining traction in data centers. A model calculation suggests that just one-tenth of the wafer capacity at manufacturing partner Win Semi could generate annual laser array revenues of between $341 million and $512 million. An assessment published July 18 described the investment as a "once-in-a-generation opportunity," even as it conceded that short-term price momentum remains neutral.
For now, those long-term scenarios are being drowned out by a confluence of near-term pressures: a restated balance sheet, an unresolved insider-trading investigation, and a boardroom that appears divided on whether now is the time to buy or to sell. The August 27 quarterly report will be the next major test of whether the fundamental story can reassert itself — or whether the selling has further to run.
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Sivers Semiconductors Stock: New Analysis - 24 July
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