Silvaco Group (NASDAQ:SVCO) Price Target Cut to $17.00

Silvaco Group (NASDAQ:SVCO) had its target price trimmed by Craig Hallum from $25.00 to $17.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

SVCO has been the topic of several other reports. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price objective on shares of Silvaco Group in a research report on Friday, June 21st. TD Cowen lowered their target price on shares of Silvaco Group from $23.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday. B. Riley reaffirmed a “buy” rating and issued a $26.00 price target on shares of Silvaco Group in a research note on Thursday, September 19th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $26.00 price objective on shares of Silvaco Group in a research note on Tuesday, September 17th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Silvaco Group presently has an average rating of “Buy” and an average target price of $20.83.

Silvaco Group Trading Down 3.9 %

Silvaco Group stock opened at $6.89 on Wednesday. Silvaco Group has a one year low of $6.79 and a one year high of $21.59. The business’s 50 day moving average is $14.13.

Silvaco Group (NASDAQ:SVCO) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.14). The company had revenue of $14.96 million during the quarter, compared to analyst estimates of $14.68 million. Sell-side analysts expect that Silvaco Group will post -0.63 EPS for the current year.

Institutional Investors Weigh In On Silvaco Group

Hedge funds have recently modified their holdings of the business. Lynrock Lake LP bought a new stake in shares of Silvaco Group in the second quarter valued at about $3,596,000. Allspring Global Investments Holdings LLC bought a new stake 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 during the 2nd quarter worth approximately $3,469,000. Davidson Kempner Capital Management LP bought a new position in shares of Silvaco Group during the 2nd quarter worth approximately $3,182,000. 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.