Sivers Semiconductors: Governance Turmoil Clouds Record $799 Million Pipeline and Production Deal
Published on 06/19/2026 at 07:33 | Redaktion boerse-global.de
Sivers Semiconductors has been sending mixed signals to investors. On the one hand, its order pipeline swelled 77% since the start of the year to $799 million, and a new production contract with British satellite firm ALL.SPACE worth $8.2 million marks a pivotal shift from development to series manufacturing. On the other hand, the company’s boardroom erupted just ahead of the annual general meeting, with three directors resigning and a long-awaited Nasdaq listing vote pulled from the agenda.
The departures included deputy chairman Tomas Duffy and founders Erik Fallström and Keith Halsey. The annual meeting, originally scheduled for June 15, was supposed to clear the way for a secondary listing on the Nasdaq through the issuance of 53.8 million new shares – a move that would have diluted existing shareholders by roughly 15%. Management abruptly removed the item from the agenda, saying the newly elected board would first review the proposal internally. Instead, shareholders granted a general mandate for a capital increase of the same size, giving the company financial flexibility without immediate dilution. They also approved a convertible note worth approximately $327,000.
Adding to the uncertainty, Swedish prosecutors are investigating a potential breach of the EU Market Abuse Regulation. An anonymous X account leaked details of the Nasdaq plan exactly 48 hours before the official announcement. Despite the governance and regulatory headwinds, the stock has been on a tear. On Thursday, Sivers shares closed at €8.82, down about 6% on the day but still roughly 79% above the level a month ago. Since hitting a 52-week low of €0.27 in March, the stock has surged more than 3,200%. The annualized volatility stands at a dizzying 238%, and the current price is about 14% below the recent 52-week high.
Should investors sell immediately? Or is it worth buying Sivers Semiconductors?
Operationally, the picture is mixed. First-quarter revenue fell 22% to SEK 61.9 million. Over the trailing twelve months, Sivers generated sales of about SEK 290 million while recording a net loss of SEK 215 million. The market capitalization of roughly SEK 28 billion reflects lofty expectations for future pipeline conversion rather than current earnings. A relative strength index of 61.8 suggests the stock is cooling from overbought territory but not yet oversold.
Sivers has already restated its financial reports to comply with US PCAOB standards, keeping its Nasdaq ambitions alive. The next major milestone comes on August 6, 2026, when the company reports second-quarter results and provides fresh operational data. Until then, the stock is likely to remain highly volatile as investors weigh a record backlog against governance risks and an ongoing insider probe.
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