B. Riley Reaffirms “Buy” Rating for Silvaco Group (NASDAQ:SVCO)

Silvaco Group (NASDAQ:SVCO)‘s stock had its “buy” rating reaffirmed by equities researchers at B. Riley in a report released on Thursday, Benzinga reports. They presently have a $26.00 price objective on the stock. B. Riley’s target price points to a potential upside of 64.87% from the stock’s current price.

Several other equities analysts have also recently issued reports on SVCO. Craig Hallum assumed coverage on shares of Silvaco Group in a research report on Tuesday, June 4th. They issued a “buy” rating and a $25.00 price target for the company. TD Cowen assumed coverage on shares of Silvaco Group in a report on Monday, June 3rd. They issued a “buy” rating and a $23.00 target price for the company. Rosenblatt Securities reissued a “buy” rating and set a $26.00 price objective on shares of Silvaco Group in a report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 target price on shares of Silvaco Group in a report on Friday, June 21st. Finally, Jefferies Financial Group began coverage on shares of Silvaco Group in a report on Monday, June 3rd. They issued a “buy” rating and a $25.00 price target on the stock. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $25.50.

Silvaco Group Trading Up 5.1 %

Silvaco Group stock traded up $0.76 during mid-day trading on Thursday, reaching $15.77. The company’s stock had a trading volume of 304,083 shares, compared to its average volume of 296,008. Silvaco Group has a 12 month low of $13.99 and a 12 month high of $21.59. The firm’s 50 day simple moving average is $16.42.

Silvaco Group (NASDAQ:SVCO) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.14). The business had revenue of $14.96 million during the quarter, compared to analysts’ expectations of $14.68 million. On average, equities research analysts forecast that Silvaco Group will post -0.63 EPS for the current year.

Hedge Funds Weigh In On Silvaco Group

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