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

Silvaco Group (NASDAQ:SVCO) had its price objective reduced by Needham & Company LLC from $26.00 to $19.00 in a report issued on Thursday, MarketBeat.com reports. Needham & Company LLC currently has a buy rating on the stock.

SVCO has been the subject of several other research reports. B. Riley reiterated a “buy” rating and set a $26.00 price target on shares of Silvaco Group in a report on Thursday, September 19th. Rosenblatt Securities reiterated a “buy” rating and issued a $26.00 target price on shares of Silvaco Group in a research note on Tuesday, September 17th. TD Cowen dropped their price target on shares of Silvaco Group from $23.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Finally, Craig Hallum reduced their price objective 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, October 16th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $20.83.

Silvaco Group Stock Performance

Silvaco Group stock opened at $6.89 on Thursday. The firm has a fifty day simple moving average of $14.13. Silvaco Group has a 1-year low of $6.79 and a 1-year high of $21.59.

Silvaco Group (NASDAQ:SVCO) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.14). The company 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 EPS for the current year.

Hedge Funds Weigh In On Silvaco Group

Institutional investors have recently bought and sold shares of the company. Cubist Systematic Strategies LLC bought a new stake in shares of Silvaco Group in the second quarter valued at $366,000. Ghisallo Capital Management LLC purchased a new stake in Silvaco Group in the 2nd quarter worth about $899,000. Point72 Asset Management L.P. bought a new stake in Silvaco Group in the 2nd quarter valued at about $1,182,000. Lynrock Lake LP bought a new stake in Silvaco Group in the 2nd quarter valued at about $3,596,000. Finally, Squarepoint Ops LLC purchased a new stake in Silvaco Group during the second quarter valued at about $640,000.

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.