Sivers Semiconductors Management Bets $100,000+ on Own Stock as Nasdaq Listing Effort Intensifies

CEO and board members collectively purchase shares after stock drops over a third in one month, as company advances Nasdaq listing and pipeline hits $800M

Inside Sivers Semiconductors, the mood is markedly more confident than the stock price suggests. While the Swedish photonics and semiconductor company has watched its shares shed more than a third of their value in a single month, its chief executive and multiple board members have been snapping up equity in a coordinated buying spree that signals a sharp disconnect between market sentiment and insider conviction.

CEO Vickram Vathulya led the charge, purchasing 24,000 shares on July 9 at an average price of $4.11, for a total outlay of nearly $98,640. That brings his personal stake to 4,446,076 shares. He was far from alone. Board member Karin Raj acquired 13,264 shares at 34.68 Swedish kronor apiece, while Joakim Nideborn bought 11,425 shares at 41.74 kronor and Helena Svancar added 11,019 shares at 3.65 kronor. Todd Thomson, another director, purchased shares worth roughly 500,000 kronor on July 8. All transactions are registered with Sweden’s financial supervisory authority. The broad-based buying across the C-suite and board within a three-day window is an unusually emphatic vote of confidence.

The backdrop for these purchases could hardly be more volatile. Sivers’ stock closed at €4.25 on Friday, managing a 2.41% gain on the day, but the surrounding picture is brutal. Over the past week the shares have fallen 18.27%, and the monthly decline stands at 38.54%. That marks a 58.46% retreat from the 52-week high of €10.23 touched on June 3. For context, the stock hit a 52-week low of €0.27 as recently as early March — meaning it had rallied more than fifteen-fold before the current rout set in. The annualized 30-day volatility has reached an eye-popping 222.42%, reflecting extreme daily swings. Technical indicators underscore the damage: the shares trade 31.73% below their 50-day moving average of €6.23, though they remain above the 100-day average of €3.73. The 14-day relative strength index sits at 39.2, edging toward oversold territory.

So what explains the management’s willingness to load up on stock while the market is selling off? One clue lies in the company’s strategic trajectory. Sivers is pushing ahead with plans for a dual listing on the Nasdaq in New York, which it expects to complete within the next two to three quarters. To meet the tougher reporting standards required for a U.S. exchange, the company has already upgraded its financial audits to full PCAOB status — a key prerequisite. As part of that process, the quarterly reporting calendar has been recalibrated: the Q2 report will now land on August 27, and the Q3 report on November 26. Vathulya has cited the need for “accuracy and transparency” as the reason for the longer timelines.

The operational picture itself is a study in contrasts. Sivers’ project pipeline has swelled to $800 million as of May, a 77% increase in just five months, with photonics and radio-frequency technologies contributing roughly equally. A concrete win came from ALL.SPACE, which placed an $8.2 million order for Ka-band beamforming chips, with delivery slated for 2027. On the other hand, first-quarter results were soft: net revenue fell 22% to 61.9 million Swedish kronor, and the company posted a net loss of 42.7 million kronor. Management blames delayed U.S. defense budgets and adverse currency movements for the weakness, but maintains its full-year 2026 growth target, expecting a sharp acceleration in the second half.

Meanwhile, the company is positioning itself for the artificial intelligence infrastructure boom. In partnership with GlobalFoundries, Sivers is developing silicon photonics solutions for data centers, embedding its laser arrays into reference designs on GlobalFoundries’ photonics platform. Additional collaborations with LioniX International and Enablence Technologies round out its technology roadmap.

For now, the market remains fixated on the stock’s breathtaking decline and the uncertainty surrounding the Nasdaq overhaul. But the insider buying — concentrated in the days before a delayed earnings report — suggests management sees near-term weakness as an overreaction. The next major test will come on August 27, when Sivers reports second-quarter results under its new, more rigorous reporting framework. If those numbers validate the insiders’ conviction, the current sell-off may prove to be a steep but temporary correction in a longer-term re-rating story.