Silvaco Group (NASDAQ:SVCO) PT Lowered to $19.00 at Needham & Company LLC

Silvaco Group (NASDAQ:SVCO) had its target price decreased by Needham & Company LLC from $26.00 to $19.00 in a report released on Thursday morning, Marketbeat reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other brokerages also recently commented on SVCO. TD Cowen reduced their price objective on Silvaco Group from $23.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday. Craig Hallum lowered their price target on Silvaco Group from $25.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday. Rosenblatt Securities reiterated a “buy” rating and set a $26.00 target price on shares of Silvaco Group in a report on Tuesday, September 17th. Finally, 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. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $20.83.

Silvaco Group Stock Performance

Shares of SVCO opened at $6.89 on Thursday. Silvaco Group has a fifty-two week low of $6.79 and a fifty-two week high of $21.59. The firm has a 50-day simple moving average of $14.13.

Silvaco Group (NASDAQ:SVCO) last announced its quarterly 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 firm had revenue of $14.96 million during the quarter, compared to analyst estimates of $14.68 million. On average, sell-side analysts expect that Silvaco Group will post -0.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SVCO. Federated Hermes Inc. bought a new position in shares of Silvaco Group in the second quarter valued at about $216,000. Point72 DIFC Ltd acquired a new stake in shares of Silvaco Group in the 2nd quarter valued at $235,000. Cubist Systematic Strategies LLC acquired a new stake in Silvaco Group in the second quarter valued at about $366,000. XTX Topco Ltd bought a new stake in shares of Silvaco Group during the 2nd quarter valued at approximately $402,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Silvaco Group during the second quarter worth $640,000.

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.