Stockholm, May 23, 2026, 22:04 CEST
Sivers Semiconductors AB ended a wild week on a strong note. Shares jumped but attention shifted to May 29, when the company faces quarterly earnings and an MSCI index move.
The stock finished Friday at 72.90 Swedish crowns, gaining 23.45% for the session and hitting a high of 74.90 crowns during the day. It advanced 30.88% over the week, market data show. Nasdaq Stockholm does not open on Saturdays, operating weekdays on Stockholm time.
Sivers’ rally is shifting into event territory. MSCI says the stock will join the MSCI Sweden Small Cap Index after the close on May 29. It will come out of the MSCI Sweden Micro Cap Index the same day. That could trigger trades from funds tracking those indexes.
Sivers plans to release first-quarter results on the same day. Earlier in the month, the company said it delayed the Q1 report to May 29 from May 20 while it works through audit issues related to a possible Nasdaq New York dual listing.
Sivers shares wrapped up a choppy week on Friday. The stock dropped on Monday and Tuesday, before jumping 18.79% Wednesday, 9.35% Thursday and another 23.45% Friday, according to historical data. Trading volume on Friday topped 20 million shares.
Company headlines moved shares. Sivers said late on May 19 its Electronic Warfare STAR project under the Microelectronics Commons program was renewed for another year, pulling in $6.6 million. Harish Krishnaswamy, who manages the wireless unit, called it a nod to Sivers’ “strong first-year technical progress.” Sivers Semiconductors
Sivers said its program targets wideband antenna arrays used in electronic warfare, comms and radar. The company said BAE Systems, MIT Lincoln Laboratory, and Columbia University are collaborators. Sivers noted there could be commercial applications too.
Board plans shifted as well. Sivers’ nomination committee put up Joakim Nideborn and Helena Svancar for board seats. Dr. Bami Bastani, Todd Thomson, and Karin Raj are up for another term. Bastani, the chairman, said the new line-up is a “strong board” and said the incoming directors back Sivers’ growth push in photonics and millimeter-wave tech. Sivers Semiconductors
Sivers is mainly seen through an optics lens by investors. The company is still a fraction of the size of U.S.-listed optical players Lumentum and Coherent, though buzz around AI data center photonics is driving focus back to those stocks. Semiconductor Engineering said last week that Coherent, Lumentum and Sumitomo are the top three laser suppliers.
The risk is still there. Sivers’ annual report now puts 2025 EBIT at a restated negative 177.8 million crowns instead of the earlier negative 141.3 million, with net result negative 222.6 million crowns. The stock price is hot, so there’s little cushion if Q1 revenue, margins, or U.S. listing plans fail to measure up.
Dilution is on the table. When companies issue new shares or options, existing holders end up with a smaller slice. At Sivers Semiconductors’ May 11 extraordinary meeting, shareholders signed off on an 8.62 million-share directed issue, priced at 14.5 crowns each. The notice for the June 15 annual meeting also mentions a proposed employee stock option plan of up to 7 million options, which would represent around 2.0% fully diluted.
Next week looks straightforward, though maybe not quiet. Investors want to see if index-driven buying keeps up, if the Q1 numbers back the stock’s run, and if management says anything more about when a possible U.S. dual listing could happen.
