Sivers Semiconductors: Insider Selling Casts Shadow Over Photonics-Fueled Rally
08.06.2026 - 14:14:25 | boerse-global.de
The same week that Sivers Semiconductors announced a landmark deal with GlobalFoundries and saw its stock rocket higher, one of its top executives was quietly cashing out nearly 100 million Swedish kronor worth of shares. That juxtaposition — a stunning rally set against insider profit-taking — has left investors weighing which signal matters more.
Harish Krishnaswamy, managing director of subsidiary Sivers Wireless, sold approximately 1.39 million shares at 71.36 kronor each on May 29, pocketing just under 99.5 million kronor. The transaction, recorded with Sweden’s Finansinspektionen insider register, is the largest insider sale the company has seen in months. In fact, over the past three months, every insider move has been a sell — not a single purchase has been disclosed. Krishnaswamy and board member Tomas Duffy both sold smaller parcels back in March.
The timing is notable because just days later, on June 2, Sivers revealed it would collaborate with GlobalFoundries to develop optical solutions for AI data centers. The deal taps into a booming market for pluggable optics that is projected to reach $25 billion by 2030. Investors piled in, sending the stock up more than 16% on the Monday after the announcement, to 7.78 euros.
That gain extended an already powerful run. Over the prior seven days the stock had climbed roughly 37%, and from the 52-week low of 0.27 euros set in March, the price had multiplied more than twentyfold. At its peak in early June, the stock hit a 52-week high of 10.23 euros before pulling back about 35%.
Should investors sell immediately? Or is it worth buying Sivers Semiconductors?
The rally has put substantial pressure on hedge funds that have built significant short positions. According to Finansinspektionen, total disclosed short interest stands at 6.55% of shares outstanding. The three largest positions are held by Two Sigma Investments at 2.20%, Voleon Capital Management at 1.95%, and Qube Research & Technologies at 0.56%. Neither Two Sigma nor Voleon have meaningfully reduced their bets since the GlobalFoundries news, leaving them exposed to a potential squeeze if buying momentum continues.
Technically, the stock is heavily overextended. The closing price at the time of the insider sale was 6.70 euros, roughly 71% above the 50-day moving average. After the deal announcement, that premium widened to about 93% above the 50-day average of 4.04 euros. The relative strength index sits at 59.8, while annualized 30-day volatility has surged past 247% — a reflection of the extraordinary swings of recent weeks.
Behind the price fireworks, however, the underlying business remains under strain. First-quarter 2026 revenue fell to 61.9 million kronor from 78.9 million a year earlier, and the operating loss came in at 41.5 million kronor. Operating cash flow was negative 49.2 million kronor. Management blamed US government budget standoffs, delayed defense spending, and currency headwinds, while pointing to a 77% jump in the order pipeline to $799 million.
Sivers Semiconductors at a turning point? This analysis reveals what investors need to know now.
All eyes now turn to the annual general meeting scheduled for June 15 in Stockholm. Shareholders had to be registered by June 5 and to confirm attendance by June 9 — deadlines that have already passed. The next true test for the rally will come with second-quarter results, which will show whether the photonics partnership and pipeline growth can start translating into improved financial performance. Until then, the combination of insider selling, heavy short interest, and extreme volatility keeps the stock squarely in the spotlight — for very different reasons.
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