Brokerages Set Silvaco Group, Inc. (NASDAQ:SVCO) Price Target at $20.83

Silvaco Group, Inc. (NASDAQ:SVCO) has received a consensus rating of “Buy” from the six brokerages that are covering the company, MarketBeat.com reports. Six analysts have rated the stock with a buy rating. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $20.83.

A number of research firms recently weighed in on SVCO. Needham & Company LLC cut their target price on shares of Silvaco Group from $26.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Craig Hallum cut their target price on shares of Silvaco Group from $25.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Rosenblatt Securities cut their target price on shares of Silvaco Group from $26.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. B. Riley reaffirmed a “buy” rating and issued a $26.00 price target on shares of Silvaco Group in a report on Thursday, September 19th. Finally, TD Cowen lowered their price target on Silvaco Group from $23.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, October 16th.

Silvaco Group Stock Performance

Shares of NASDAQ:SVCO opened at $6.36 on Friday. The stock’s 50-day simple moving average is $12.01. Silvaco Group has a 1 year low of $6.14 and a 1 year high of $21.59.

Silvaco Group (NASDAQ:SVCO) last released its earnings results on Wednesday, August 7th. The company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.14). The company had revenue of $14.96 million for the quarter, compared to analysts’ expectations of $14.68 million. Analysts anticipate that Silvaco Group will post -0.74 EPS for the current fiscal year.

Hedge Funds Weigh In On Silvaco Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. acquired a new position in Silvaco Group in the second quarter valued at approximately $1,182,000. Davidson Kempner Capital Management LP acquired a new stake in shares of Silvaco Group in the second quarter valued at approximately $3,182,000. Ghisallo Capital Management LLC acquired a new stake in shares of Silvaco Group in the second quarter valued at approximately $899,000. First Eagle Investment Management LLC acquired a new stake in shares of Silvaco Group in the second quarter valued at approximately $3,469,000. Finally, Ovata Capital Management Ltd acquired a new stake in shares of Silvaco Group in the second quarter valued at approximately $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.