Sivers Semiconductors Draws Fresh Short as LiDAR Order Book Takes Shape

A new publicly disclosed short position in Sivers Semiconductors emerged on Thursday, with Marble Bar Asset Management building the stake according to the register maintained by Sweden's financial regulator, Finansinspektionen. The disclosure lands alongside a pair of contrasting moves from other investors — and against a backdrop of operational news that has little to do with the trading flows themselves.

Shares in the company climbed 11% on Friday. No causal link between that advance and the shift in short positioning has been established.

Two Investors, Opposite Directions

GSA Capital Partners lifted its short position to 0.52% of the company's capital on 3 November, a level that pushed the firm into public view as a disclosed short seller of Sivers. Two Sigma Investments moved the other way, cutting its position below the threshold that triggers public disclosure on Friday. As a result, Two Sigma no longer appears in the Finansinspektionen register as a publicly disclosed short seller. That change reflects a drop beneath the reporting line rather than a confirmed full exit from the position.

What Sits Behind the Trading

The operating story centers on production orders that a strategic LiDAR customer placed roughly two weeks ago, covering sensor applications for automotive and industrial use. Sivers is slated to supply CW-DFB lasers and optical amplifiers for the program, with deliveries expected to begin in the fourth quarter of 2026.

The company has pegged the estimated cumulative revenue potential of the program at USD 53 million to USD 138 million, a range spanning the customer's entire product lifecycle. Sivers first flagged that potential back in March 2026. The figure therefore describes an estimated revenue opportunity across the lifecycle — not the value of the production orders now in motion.

Shareholders Back an Option Pool

On the capital side, shareholders approved a long-term employee option program at an extraordinary general meeting a little over three weeks ago. Per company statements, the program covers up to 7.28 million options, equivalent to roughly 2.0% of shares and voting rights on a diluted basis.

The shareholder vote also carried the associated authorization to issue Class C shares and to conduct buybacks. What was approved was the option program and its related capital measures; no full exercise of those authorizations has taken place.