Sivers Semiconductors Insiders Load Up on Stock as Nasdaq Dual-Listing Effort Rattles Investors

Insider buying spree signals confidence ahead of lock-up expiration, with Sivers facing dilution, short-seller attacks, and a delayed Q2 earnings report.

The leadership of Sivers Semiconductors has placed a bold vote of confidence in the chip developer’s trajectory, with the chief executive and three board members collectively scooping up tens of thousands of shares in recent days. The buying spree unfolded just as the stock trades 62% below its record peak and days before a key lock-up period for management expires.

CEO Vickram Vathulya led the charge, acquiring roughly 24,000 shares off-market at $4.11 apiece, investing nearly $100,000 of his personal wealth in the transaction. Joining him on the same day were three independent directors: Todd Thomson picked up 12,500 shares at 42.80 Swedish kronor, Karin Raj bought 13,264 shares at 34.68 kronor, and Helena Svancar acquired 11,019 shares at 41.74 kronor. The coordinated purchases, disclosed to the Swedish financial regulator, signal that the top echelon sees value in the company’s current market price.

That confidence comes against a backdrop of severe selling pressure. Sivers’ shares hit an all-time high of 110 kronor earlier this year before tumbling to the low 40-kronor range, leaving the stock down roughly 40% over the past month alone. In euro terms, the shares closed at €4.19 on the day of the insider buys. Despite the deep pullback, the stock still trades more than 900% higher year to date.

The buying spree is especially striking given that the company’s management lock-up period ends on July 16, 2026. That date would normally open the door for insiders to begin selling shares. Instead, the leadership has chosen to increase their holdings right before the restriction lifts — a move market observers interpret as a fundamental endorsement of the company’s prospects.

Adding to the uncertainty, Sivers has delayed the release of its second-quarter earnings report for the second time this year. The results are now scheduled for August 27, 2026. The company attributes the postponement to the preparation of internal controls tied to its planned secondary listing on the Nasdaq in the United States. Sivers has already converted its accounting to U.S. standards and targets a New York debut around the turn of the year.

The Nasdaq push, however, comes at a cost. Sivers recently raised fresh capital and converted a dollar-denominated loan into equity, flooding the market with almost 23 million new shares. That dilution has spooked investors, as have two additional headwinds: an auditor’s going-concern warning and repeated attacks from short sellers. The combination has eroded shareholder trust and amplified volatility.

On the operational front, Sivers points to a sales pipeline valued at roughly $800 million, underpinned by contracts with ALL.SPACE and a partnership with GlobalFoundries targeting AI data-center workloads. The company must now prove that this pipeline is translating into revenue growth. The August 27 earnings report will be a critical test: if the numbers show concrete operational progress, the recent insider buying could be vindicated; if not, the stock may face renewed downward pressure as the lock-up expiry and short-seller scrutiny intensify.