Silvaco Group, Inc. (NASDAQ:SVCO) Sees Large Growth in Short Interest

Silvaco Group, Inc. (NASDAQ:SVCO) saw a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 543,400 shares, a growth of 37.7% from the August 31st total of 394,600 shares. Approximately 10.2% of the company’s shares are short sold. Based on an average daily volume of 331,700 shares, the short-interest ratio is presently 1.6 days.

Hedge Funds Weigh In On Silvaco Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Davidson Kempner Capital Management LP purchased a new position in Silvaco Group during the 2nd quarter worth $3,182,000. First Eagle Investment Management LLC purchased a new position in shares of Silvaco Group in the second quarter worth $3,469,000. Ovata Capital Management Ltd purchased a new position in shares of Silvaco Group in the second quarter worth about $1,618,000. Allspring Global Investments Holdings LLC purchased a new position in Silvaco Group during the 2nd quarter worth approximately $3,485,000. Finally, Federated Hermes Inc. purchased a new position in shares of Silvaco Group during the 2nd quarter valued at about $216,000.

Analyst Upgrades and Downgrades

SVCO has been the subject of a number of recent analyst reports. Jefferies Financial Group started coverage on Silvaco Group in a report on Monday, June 3rd. They set a “buy” rating and a $25.00 price objective for the company. Rosenblatt Securities restated a “buy” rating and issued a $26.00 price target on shares of Silvaco Group in a report on Tuesday, September 17th. Craig Hallum initiated coverage on shares of Silvaco Group in a research report on Tuesday, June 4th. They set a “buy” rating and a $25.00 target price on the stock. TD Cowen started coverage on Silvaco Group in a report on Monday, June 3rd. They set a “buy” rating and a $23.00 price objective on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $28.00 target price on shares of Silvaco Group in a report on Friday, June 21st. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $25.50.

Silvaco Group Stock Down 2.5 %

Silvaco Group stock traded down $0.38 during mid-day trading on Friday, reaching $15.09. 346,058 shares of the company were exchanged, compared to its average volume of 314,901. Silvaco Group has a 12-month low of $13.99 and a 12-month high of $21.59. The firm’s fifty day moving average is $15.96.

Silvaco Group (NASDAQ:SVCO) last announced its earnings results 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 for the quarter, compared to analyst estimates of $14.68 million. Equities analysts expect that Silvaco Group will post -0.63 earnings per share for the current year.

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.