Sivers Semiconductors Rides CPO Wave to 16.5 Billion Valuation—Restated Losses and Analyst Targets Tell a Different Story
17.05.2026 - 00:51:12 | boerse-global.de
Sivers Semiconductors has defied gravity. The Swedish chip developer’s stock closed at 55.70 Swedish kronor on Friday, 15 May 2026, after hitting a fresh 52-week high of 59.85 SEK during the session. That puts the company’s market capitalization at roughly 16.5 billion SEK—a staggering leap from the days when the shares traded for less than three kronor just twelve months ago.
Behind the rally is a stampede into co-packaged optics, a technology that replaces copper cabling in AI data centres using optical connections. Sivers is a pure-play bet in a market forecast to expand at an annual rate of 142 percent through 2030. Its flagship project with Jabil, a 1.6-terabit transceiver module powered by Sivers’ indium phosphide lasers, has become the centrepiece of the bull case.
Yet the arithmetic at the fundamental level looks far less compelling. Just as the stock was soaring, Sivers restated its 2025 annual accounts to align with PCAOB auditing standards—a prerequisite for a potential secondary listing on the Nasdaq New York. The restatement widened the net loss for the full year to 222.6 million SEK, up from the originally reported 186.5 million SEK. Revenue was only marginally adjusted, ticking up to 306.6 million SEK from 304.1 million SEK. Equity per share stands at 3.05 SEK.
A gaping chasm between price and analyst expectations
Should investors sell immediately? Or is it worth buying Sivers Semiconductors?
Analysts who follow the stock have set a verified price target of 6.55 SEK—roughly one-tenth of the current market price. That disconnect reflects the extent to which the market is discounting future success today. The fourth quarter of 2025, the most recent period with reported numbers, showed no sign of a turnaround: revenue of 81 million SEK and a net loss of 23.7 million SEK. Over the trailing twelve months, Sivers generated around 361 million SEK in sales but booked a loss of 186.5 million SEK—before the restatement widened the full-year figure.
Heavy R&D spending and industry alliances
Sivers is investing heavily in research and development to defend its position in specialised semiconductors. It has built a broad partnership network that includes LioniX, O-Net and Enablence, all aimed at accelerating technology development and securing market access. The broader CPO ecosystem is attracting enormous capital: rival Tower Semiconductor recently locked in supply contracts worth $1.3 billion.
Nasdaq listing and upcoming milestones
Sivers Semiconductors at a turning point? This analysis reveals what investors need to know now.
The PCAOB-compliant accounts pave the way for a dual listing in New York, which would give Sivers access to deeper pools of US investors. The next major catalyst is the first-quarter 2026 report, due on 29 May—later than originally scheduled. Management has flagged that the company expects to reach cash-flow break-even when annual revenue hits between $50 million and $55 million. The May release will show whether Sivers is on that trajectory.
The annual general meeting is set for 15 June 2026. Investors will be watching closely for any updates on the Nasdaq timeline, as well as progress on converting the Jabil prototype into volume orders. Until then, the stock continues to trade on narrative and momentum, leaving a yawning gap between the market’s euphoria and the cold numbers on the balance sheet.
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Sivers Semiconductors Stock: New Analysis - 17 May
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