Point72 Asset Management L.P. Purchases New Shares in Silvaco Group, Inc. (NASDAQ:SVCO)

Point72 Asset Management L.P. bought a new position in Silvaco Group, Inc. (NASDAQ:SVCO) during the second quarter, HoldingsChannel.com reports. The fund bought 65,735 shares of the company’s stock, valued at approximately $1,182,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Lynrock Lake LP purchased a new stake in Silvaco Group in the second quarter worth $3,596,000. Allspring Global Investments Holdings LLC purchased a new stake in Silvaco Group in the second quarter worth $3,485,000. First Eagle Investment Management LLC purchased a new stake in Silvaco Group in the second quarter worth $3,469,000. Davidson Kempner Capital Management LP purchased a new stake in Silvaco Group in the second quarter worth $3,182,000. Finally, Ovata Capital Management Ltd purchased a new stake in Silvaco Group in the second quarter worth $1,618,000.

Analysts Set New Price Targets

A number of research firms have weighed in on SVCO. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 target price on shares of Silvaco Group in a research note on Friday, June 21st. 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. Finally, B. Riley reissued a “buy” rating and set a $26.00 price target on shares of Silvaco Group in a research report on Thursday, September 19th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $25.50.

Silvaco Group Stock Performance

SVCO opened at $12.08 on Friday. Silvaco Group, Inc. has a 12-month low of $11.97 and a 12-month high of $21.59. The stock’s fifty day moving average price is $15.39.

Silvaco Group (NASDAQ:SVCO) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 expect that Silvaco Group, Inc. will post -0.63 EPS for the current year.

Silvaco Group 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.