Sivers Semiconductors: €950k Insider Purchase Backs US Dual-Listing Strategy Amid 52% Monthly Sell-Off

Swedish photonics firm Sivers Semiconductors sees stock crash 52% in a month while board and CEO buy shares under AGM plan. US listing delays and PCAOB audits cited.

The boardroom and the trading floor are telling very different stories at Sivers Semiconductors. While the Swedish photonics and wireless specialist pushes toward a dual listing in the United States — a move that demands stricter financial reporting and PCAOB-compliant audits — its stock has cratered more than 52% over the past month, extending a slide that now leaves the shares 61% below the 52-week high of SEK 10.23 set on June 3, 2026.

The same week that saw the share price tumble 5.36% and record a single-day loss of 6.12% — bringing the quote to SEK 3.99 — also brought a coordinated wave of insider buying. Five board members, including Bami Bastani, Karin Raj, Helena Svancar, Todd Thomson and Joakim Nideborn, completed share purchases under a programme approved at the June annual general meeting. That scheme allocates each director the equivalent of one million Swedish kronor, half of which is used to acquire stock with a mandatory twelve-month holding period. In a separate transaction, Chief Executive Vickram Vathulya added shares worth roughly 950,000 kronor.

Crucially, the company, in a statement carried by Nyhetsbyrån Direkt, emphasised that all the purchases were tied to the AGM-approved compensation plan and did not represent free-market insider trades. Even so, the concentration of buying by the entire leadership team has been interpreted by some market participants as a signal of conviction about the medium-term outlook.

The price action suggests that conviction is not yet shared by the broader market. After closing at SEK 4.25 on the previous Friday, the stock dropped to SEK 3.99, and the 50-day moving average of SEK 6.21 now sits 35.7% above the current level. The 100-day average of SEK 3.76 lies just below, indicating a breakdown from the intermediate trend. The relative strength index at 37.8 points to weak but not yet oversold conditions, while the annualised 30-day volatility of 155.46% underscores the nervousness surrounding the name. For context, the shares still trade 1,405.66% above the 52-week low of SEK 0.27 touched on March 3, 2026 — a reminder of the dramatic range that has characterised the past twelve months.

The volatility has coincided with a reset of Sivers’ financial reporting calendar, a move that is directly linked to its US listing ambitions. The second-quarter 2026 report has been pushed back from August 6 to August 27; the third-quarter release shifts from November 11 to November 26; and the fourth-quarter report is now scheduled for February 25, 2027. Vathulya explained that the company needs additional time to ensure quality and transparency in its disclosures as it adapts to the auditing standards of the Public Company Accounting Oversight Board, a prerequisite for any firm seeking a secondary quotation on a US exchange.

Sivers aims to expand its footprint in growth markets such as AI data centres, satellite communications, defence and telecoms. The dual listing is seen as a vehicle to attract a broader investor base and raise the company’s profile internationally. The market capitalisation currently stands at roughly €1.24 billion.

Until the August 27 report — the first under the revised schedule — investors will have to weigh the board’s cash commitment against a stock that has lost more than half its value in a single month. The reporting delay, while technically necessary, does little to dispel the short-term uncertainty that has gripped the shares.