Sivers Semiconductors (OM:SIVE) - Share price, News & Analysis

SIVE fundamental analysis
Snowflake Score
Valuation	1/6
Future Growth	5/6
Past Performance	0/6
Financial Health	3/6
Dividends	0/6

SIVE Stock Overview

Sivers Semiconductors AB (publ), through its subsidiaries, develops, manufactures, and sells chips, components, modules, and subsystems in North America, Europe, and Asia.

Rewards

Earnings are forecast to grow 80.48% per year

Risk Analysis

Has less than 1 year of cash runway

Highly volatile share price over the past 3 months

Shareholders have been diluted in the past year

Sivers Semiconductors Competitors

BeammWave

OM:BEAMMW B

kr104.8m

Vadsbo SwitchTech Group

NGM:VADS

kr62.1m

Clean Industry Solutions Holding Europe

OM:CISH

kr26.8m

Imsys

NGM:IMSYS

kr41.8m

Price History & Performance

Summary of all time highs, changes and price drops for Sivers Semiconductors
Historical stock prices
Current Share Price	kr9.95
52 Week High	kr28.56
52 Week Low	kr6.00
Beta	1.23
1 Month Change	-17.50%
3 Month Change	12.24%
1 Year Change	-61.49%
3 Year Change	45.04%
5 Year Change	153.83%
Change since IPO	168.19%

Shareholder Returns

	SIVE	SE Semiconductor	SE Market
7D	-11.6%	-2.5%	-1.3%
1Y	-61.5%	-52.0%	-23.6%

Return vs Industry: SIVE underperformed the Swedish Semiconductor industry which returned -52% over the past year.

Return vs Market: SIVE underperformed the Swedish Market which returned -23.6% over the past year.

Price Volatility

Is SIVE's price volatile compared to industry and market?
SIVE volatility
SIVE Average Weekly Movement	20.3%
Semiconductor Industry Average Movement	7.6%
Market Average Movement	7.4%
10% most volatile stocks in SE Market	12.2%
10% least volatile stocks in SE Market	4.7%

Stable Share Price: SIVE is more volatile than 90% of Swedish stocks over the past 3 months, typically moving +/- 20% a week.

Volatility Over Time: SIVE's weekly volatility has increased from 13% to 20% over the past year.

About the Company

Founded	Employees	CEO	Website
1951	137	Anders Storm	https://www.sivers-semiconductors.com

Sivers Semiconductors AB (publ), through its subsidiaries, develops, manufactures, and sells chips, components, modules, and subsystems in North America, Europe, and Asia. The company operates in two business areas, Wireless and Photonics. It provides products based on semiconductor technology for 5G millimeter-wave networks, as well as optical semiconductors for fiber networks, wireless optical networks, and sensors.

Sivers Semiconductors Fundamentals Summary

How do Sivers Semiconductors's earnings and revenue compare to its market cap?
SIVE fundamental statistics
Market Cap	kr2.20b
Earnings (TTM)	-kr125.80m
Revenue (TTM)	kr160.18m

13.2x

P/S Ratio

-16.8x

P/E Ratio

Is SIVE overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
SIVE income statement (TTM)
Revenue	kr160.18m
Cost of Revenue	kr34.24m
Gross Profit	kr125.94m
Other Expenses	kr251.74m
Earnings	-kr125.80m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Jul 21, 2022

Earnings per share (EPS)	-0.59
Gross Margin	78.62%
Net Profit Margin	-78.54%
Debt/Equity Ratio	1.2%

How did SIVE perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

Is SIVE undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for SIVE?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for SIVE. This is calculated by dividing SIVE's market cap by their current preferred multiple.
What is SIVE's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	kr2.20b

SIVE key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	13x
Enterprise Value/EBITDA	-16.1x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does SIVE's PS Ratio compare to its peers?

SIVE PS Ratio vs Peers

The above table shows the PS ratio for SIVE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PS	Estimated Growth	Market Cap
Peer Average	7.5x
BEAMMW B BeammWave	15.3x	n/a	kr104.8m
VADS Vadsbo SwitchTech Group	1.6x	n/a	kr62.1m
CISH Clean Industry Solutions Holding Europe	10.9x	n/a	kr26.8m
IMSYS Imsys	2.1x	n/a	kr41.8m
SIVE Sivers Semiconductors	13.2x	55.2%	kr2.1b

Forward PS

Price-To-Sales vs Peers: SIVE is expensive based on its Price-To-Sales Ratio (13.2x) compared to the peer average (7.5x).

Price to Earnings Ratio vs Industry

How does SIVE's PE Ratio compare vs other companies in the European Semiconductor Industry?

Price-To-Sales vs Industry: SIVE is expensive based on its Price-To-Sales Ratio (13.2x) compared to the Swedish Semiconductor industry average (8.5x)

Price to Sales Ratio vs Fair Ratio

What is SIVE's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

SIVE PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	13.2x
Fair PS Ratio	36.1x

Price-To-Sales vs Fair Ratio: SIVE is good value based on its Price-To-Sales Ratio (13.2x) compared to the estimated Fair Price-To-Sales Ratio (35.8x).

Share Price vs Fair Value

What is the Fair Price of SIVE when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate SIVE's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate SIVE's fair value for valuation analysis.

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate SIVE's PEG Ratio to determine if it is good value.

Discover undervalued companies

Future Growth

How is Sivers Semiconductors forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

Future Growth Score

5/6

Future Growth Score 5/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

80.5%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: SIVE is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (0.3%).

Earnings vs Market: SIVE is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: SIVE is expected to become profitable in the next 3 years.

Revenue vs Market: SIVE's revenue (55.2% per year) is forecast to grow faster than the Swedish market (5.6% per year).

High Growth Revenue: SIVE's revenue (55.2% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: SIVE is forecast to be unprofitable in 3 years.

Discover growth companies

Past Performance

How has Sivers Semiconductors performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-30.8%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: SIVE is currently unprofitable.

Growing Profit Margin: SIVE is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: SIVE is unprofitable, and losses have increased over the past 5 years at a rate of 30.8% per year.

Accelerating Growth: Unable to compare SIVE's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: SIVE is unprofitable, making it difficult to compare its past year earnings growth to the Semiconductor industry (86.7%).

Return on Equity

High ROE: SIVE has a negative Return on Equity (-10.39%), as it is currently unprofitable.

Discover strong past performing companies

Financial Health

How is Sivers Semiconductors's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Stable Cash Runway
Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: SIVE's short term assets (SEK236.7M) exceed its short term liabilities (SEK144.8M).

Long Term Liabilities: SIVE's short term assets (SEK236.7M) exceed its long term liabilities (SEK191.7M).

Debt to Equity History and Analysis

Debt Level: SIVE has more cash than its total debt.

Reducing Debt: Insufficient data to determine if SIVE's debt to equity ratio has reduced over the past 5 years.

Balance Sheet

Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: SIVE has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: SIVE has less than a year of cash runway if free cash flow continues to reduce at historical rates of 26.3% each year

Discover healthy companies

Dividend

What is Sivers Semiconductors's current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate SIVE's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate SIVE's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if SIVE's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if SIVE's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as SIVE has not reported any payouts.

Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

3.6yrs

Average management tenure

CEO

Anders Storm (54 yo)

5.83yrs

Tenure

kr4,730,000

Compensation

Mr. Anders Storm has been Chief Operating Officer at Sivers IMA AB since February 2015. Mr. Storm has been Group Chief Executive Officer at Sivers Semiconductors AB (formerly known as Sivers IMA Holding AB...

CEO Compensation Analysis

Compensation vs Market: Anders's total compensation ($USD470.31K) is about average for companies of similar size in the Swedish market ($USD423.59K).

Compensation vs Earnings: Anders's compensation has increased whilst the company is unprofitable.

Leadership Team

Experienced Management: SIVE's management team is considered experienced (3.6 years average tenure).

Board Members

Experienced Board: SIVE's board of directors are not considered experienced ( 2.4 years average tenure), which suggests a new board.

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: SIVE insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 37.8%.

Data	Last Updated (UTC time)
Company Analysis	2022/06/27 00:00
End of Day Share Price	2022/06/27 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31