Silvaco Group (NASDAQ:SVCO) PT Lowered to $20.00

Silvaco Group (NASDAQ:SVCO) had its target price dropped by stock analysts at TD Cowen from $23.00 to $20.00 in a note issued to investors on Wednesday, Marketbeat reports. The firm currently has a “buy” rating on the stock. TD Cowen’s price objective would suggest a potential upside of 178.94% from the company’s previous close.

Other analysts also recently issued research reports about the company. Rosenblatt Securities reiterated a “buy” rating and set a $26.00 price target on shares of Silvaco Group in a research note on Tuesday, September 17th. Needham & Company LLC restated a “buy” rating and set a $28.00 target price on shares of Silvaco Group in a research note on Friday, June 21st. Finally, B. Riley restated a “buy” rating and set a $26.00 target price on shares of Silvaco Group in a research note on Thursday, September 19th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $20.83.

Silvaco Group Stock Down 3.8 %

SVCO opened at $7.17 on Wednesday. The business’s 50-day moving average is $14.30. Silvaco Group has a 52-week low of $7.11 and a 52-week high of $21.59.

Silvaco Group (NASDAQ:SVCO) last released 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 the consensus estimate of $14.68 million. On average, equities research analysts forecast that Silvaco Group will post -0.63 earnings per share for the current year.

Hedge Funds Weigh In On Silvaco Group

Several large investors have recently added to or reduced their stakes in SVCO. Lynrock Lake LP acquired a new position in Silvaco Group in the 2nd quarter valued at approximately $3,596,000. Allspring Global Investments Holdings LLC acquired a new position in Silvaco Group in the 2nd quarter valued at approximately $3,485,000. First Eagle Investment Management LLC acquired a new position in Silvaco Group in the 2nd quarter valued at approximately $3,469,000. Davidson Kempner Capital Management LP acquired a new position in shares of Silvaco Group in the 2nd quarter worth approximately $3,182,000. Finally, Ovata Capital Management Ltd acquired a new position in shares of Silvaco Group in the 2nd quarter worth 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.