Sivers Semiconductors Insiders Double Down as Stock Rout and Nasdaq Listing Quest Converge

CEO and board members invest nearly $100,000 in Sivers Semiconductors amid 38% monthly share plunge, as the firm prepares for a Nasdaq dual listing and focuses on AI, satellite, and defense growth.

A stock that has shed nearly 40% of its value in a single month might cause most management teams to keep their heads down. At Sivers Semiconductors, the reaction has been the opposite. Chief executive Vickram Vathulya and several board members piled into the equity between 8 and 10 July, collectively investing close to $100,000 of their own money in a show of faith that runs counter to the market’s recent verdict.

Vathulya bought 24,000 shares at an average price of $4.11 on 9 July, a transaction worth roughly $98,640 that lifted his total holding to 4.45 million shares. He was joined by board members Karin Raj (13,264 shares at SEK 34.68), Joakim Nideborn (11,425 shares at SEK 41.74), Helena Svancar (11,019 shares at SEK 3.65), and Todd Thomson, who made a purchase worth around SEK 500,000 a day earlier. All transactions appear in the insider register of the Swedish financial watchdog – a rare wave of coordinated buying from both the executive and supervisory sides of the table.

The buying spree lands at a moment when the stock is being pulled in two directions. On one hand, the share has collapsed 38.54% over the past 30 days and 58.46% from its 52-week high of €10.23, reached on 3 June. On the other, the company is deep in preparations for a dual listing on the Nasdaq, a move that would open access to deeper US capital markets and lift its international profile. The 30-day annualised volatility sits at a staggering 222.42%, a sign that the market is still digesting two recent capital measures: the conversion of a $12 million loan into equity and a heavily oversubscribed placement that raised nearly SEK 700 million in fresh funds.

The dilution from those moves – combined with external headwinds that have pushed revenues into the second half of 2026 – explains much of the recent selling pressure. Sivers reported first-quarter net sales of SEK 61.9 million, down 22% from SEK 78.9 million a year earlier, while its opportunity pipeline swelled 77% to $799 million. Vathulya has blamed delayed US defence budgets and an adverse currency environment for the revenue shortfall, though the company maintains its full-year growth target is intact.

The Nasdaq push is forcing a change in how Sivers reports its numbers. On 9 July the company updated its financial calendar, pushing the second-quarter 2026 interim report to 27 August and the third-quarter report to 26 November, with a fourth-quarter release due on 25 February 2027. The extended timetable is designed to meet the stricter auditing standards of the PCAOB, the US accounting watchdog. Vathulya said the extra time is needed to improve the accuracy and transparency of the group’s financial statements – a prerequisite for listing in New York.

The fresh capital from the placement and loan conversion is earmarked for three growth areas: AI data centres, satellite communications, and defence technology. Vathulya has pointed to a solid capital base supported by new institutional investors, even as he acknowledges that the US government shutdown in the fourth quarter of 2025 and protracted defence budgets have shifted some revenues into the second half of 2026. From 2027 onward he expects significantly higher volumes from several production ramps already under way.

Technically, the stock is in a peculiar place. The relative strength index of 39.2 is drifting into oversold territory, and although the share closed at €4.25 on Friday – up 2.41% on the day – it sits 31.73% below its 50-day moving average of €6.23. Yet it has already reclaimed its 100-day average of €3.73, a sign that the recent plunge may be finding a floor. The market capitalisation stands at roughly €1.12 billion, still more than fifteen times the 52-week low of €0.27 recorded on 3 March.

The insider buying does not guarantee that the stock has bottomed, but it sends a clear signal: the people running the company believe the current price discounts the Nasdaq opportunity and the underlying pipeline. The next major checkpoint comes on 27 August, when Sivers will report second-quarter results under its new, PCAOB-aligned calendar. If the numbers show that the tighter controls and the larger capital base are starting to feed through operationally, the insider bet could look prescient.