Silvaco Group (NASDAQ:SVCO) Price Target Cut to $17.00 by Analysts at Craig Hallum

Silvaco Group (NASDAQ:SVCO) had its price target decreased by Craig Hallum from $25.00 to $17.00 in a report issued on Wednesday, Benzinga reports. Craig Hallum currently has a buy rating on the stock.

A number of other research analysts also recently commented on SVCO. TD Cowen dropped their price objective on shares of Silvaco Group from $23.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 price target on shares of Silvaco Group in a research report on Friday, June 21st. B. Riley reiterated a “buy” rating and issued a $26.00 price target on shares of Silvaco Group in a report on Thursday, September 19th. Finally, Rosenblatt Securities restated a “buy” rating and set a $26.00 price objective on shares of Silvaco Group in a report on Tuesday, September 17th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Silvaco Group presently has a consensus rating of “Buy” and a consensus price target of $23.67.

Silvaco Group Trading Down 32.6 %

Shares of SVCO opened at $7.45 on Wednesday. Silvaco Group has a 1 year low of $7.34 and a 1 year high of $21.59. The firm’s 50 day moving average price is $14.47.

Silvaco Group (NASDAQ:SVCO) last posted its quarterly earnings data 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 firm had revenue of $14.96 million during the quarter, compared to analyst estimates of $14.68 million. On average, equities analysts predict that Silvaco Group will post -0.63 EPS for the current year.

Institutional Investors Weigh In On Silvaco Group

Several institutional investors have recently bought and sold shares of the business. Lynrock Lake LP purchased a new position in shares of Silvaco Group in the 2nd quarter valued at $3,596,000. Allspring Global Investments Holdings LLC purchased a new position in Silvaco Group in the second quarter valued at about $3,485,000. First Eagle Investment Management LLC acquired a new position in shares of Silvaco Group during the second quarter worth about $3,469,000. Davidson Kempner Capital Management LP purchased a new stake in shares of Silvaco Group in the second quarter worth about $3,182,000. Finally, Ovata Capital Management Ltd acquired a new stake in shares of Silvaco Group in the second quarter valued at about $1,618,000.

Silvaco Group Company Profile

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.