Sivers IMA’s Q3 sales and earnings, which included a number of non-recurring items, came in below our expectations. Our main takeaway was that several customers seem to be behind schedule, and we have hence lowered our expectations in the short term, resulting in a lowered fair value range. To justify a higher fair value, we want to see larger volume orders in the wireless segment or that the Fortune 100 customer moves forward with Sivers IMA towards a full volume ramp-up.

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