Sivers Semiconductors Director Buys $45,000 in Stock as Lock-Up Expiry and Short-Seller Threats Overshadow Nasdaq Push
Published on 07/10/2026 at 07:26 | Redaktion boerse-global.de
A Sivers Semiconductors board member has stepped in to buy shares worth around €45,000 at a time when the stock is suffering its worst monthly slide in years. Todd Thomson’s purchase on July 9 comes as the Swedish chip developer grapples with a punishing 40% decline in its share price over the past four weeks, driven by a combination of dilutive capital moves, an auditor’s going-concern warning, and an intensifying short-seller campaign. The insider bet raises the perennial question: is Thomson seeing value where the market sees only risk?
The stock closed at €4.15 on Thursday, down roughly 20% in the past week alone. (A separate report pegged the close at €4.19, a minor discrepancy that does little to alter the picture of a steep sell-off.) From its all-time high of €10.23 hit on June 3, the shares have lost nearly 60%. The 50-day moving average stands at €6.22, a full third above the current price, while annualised volatility has soared to 224%. The relative strength index sits at 38, signalling persistent selling pressure but not yet oversold territory. Despite the rout, the market capitalisation remains around €1.05 billion, a far cry from the year’s low of €0.27 in March, from which the stock had multiplied more than tenfold before the current correction.
At the heart of Sivers’ recent turmoil is its push for a dual listing on the Nasdaq in New York, a move that has forced a sweeping overhaul of its financial reporting. The company has pushed back its second-quarter earnings release to August 27, the second delay this year, as it works to meet the stricter audit standards of the Public Company Accounting Oversight Board (PCAOB). CEO Vickram Vathulya has cast the compliance effort as essential groundwork for attracting institutional investors in the US, arguing that large funds will not touch the stock without PCAOB-certified accounts. The third-quarter report has been moved to November 26 and the full-year 2026 results to February 25, 2027.
Should investors sell immediately? Or is it worth buying Sivers Semiconductors?
Yet the transition has come at a cost beyond the accounting changes. Sivers recently raised fresh capital and converted a dollar-denominated loan into equity, a move that reduced debt but added nearly 23 million new shares to the float. That dilution has spooked many investors. Compounding the unease, the company’s auditor has expressed doubts about Sivers’ ability to continue as a going concern, while short sellers have levelled serious allegations against the chipmaker, further eroding confidence.
A new source of downside risk is fast approaching. Insider lock-up restrictions are due to expire on July 16, freeing executives—including Vathulya—to sell their shares. The prospect of insider selling, coming on top of an already weak stock, has made traders jittery. The coming days will test whether management’s conviction matches Thomson’s recent purchase.
Sivers’ Nasdaq ambitions also face heightened competition. On July 10, South Korean memory chip giant SK Hynix launched its ADR listing on the Nasdaq, aiming to raise a substantial sum. For Sivers, a much smaller player specialising in microwave, millimetre-wave and optical semiconductor components, the battle for institutional capital in the US just got tougher. The delayed quarterly report in late August will be Sivers’ first opportunity to show that the balance-sheet restructuring is translating into operational growth. Without tangible progress, the path to a successful US listing looks increasingly uncertain.
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