Silvaco Group (NASDAQ:SVCO) PT Lowered to $19.00

Silvaco Group (NASDAQ:SVCO) had its price target lowered by analysts at Needham & Company LLC from $26.00 to $19.00 in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 175.76% from the company’s previous close.

Several other equities research analysts have also issued reports on SVCO. Craig Hallum dropped their target price on shares of Silvaco Group from $25.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday. TD Cowen dropped their target price on shares of Silvaco Group from $23.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday. B. Riley restated a “buy” rating and issued a $26.00 price objective on shares of Silvaco Group in a report on Thursday, September 19th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $26.00 price objective on shares of Silvaco Group in a report on Tuesday, September 17th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, Silvaco Group presently has a consensus rating of “Buy” and a consensus target price of $20.83.

Silvaco Group Price Performance

Shares of Silvaco Group stock opened at $6.89 on Thursday. Silvaco Group has a 1 year low of $6.79 and a 1 year high of $21.59. The company’s 50 day moving average is $14.13.

Silvaco Group (NASDAQ:SVCO) last announced its earnings results on Wednesday, August 7th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.14). The business had revenue of $14.96 million for the quarter, compared to analyst estimates of $14.68 million. Equities research analysts predict that Silvaco Group will post -0.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Silvaco Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. bought a new stake in Silvaco Group during the 2nd quarter valued at $1,182,000. Davidson Kempner Capital Management LP bought a new stake in Silvaco Group during the 2nd quarter valued at $3,182,000. Ghisallo Capital Management LLC bought a new stake in Silvaco Group during the 2nd quarter valued at $899,000. First Eagle Investment Management LLC bought a new stake in Silvaco Group during the 2nd quarter valued at $3,469,000. Finally, Ovata Capital Management Ltd bought a new stake in Silvaco Group during the 2nd quarter valued at $1,618,000.

About Silvaco Group

Silvaco Group Inc is a provider of TCAD, EDA software and SIP solutions which enable semiconductor design and AI through software and innovation. The company’s solutions are used for process and device development across display, power devices, automotive, memory, high performance compute, photonics, internet of things and 5G/6G mobile markets for complex SoC design.