Silvaco Group (NASDAQ:SVCO) Price Target Cut to $18.00 by Analysts at Rosenblatt Securities

Silvaco Group (NASDAQ:SVCO) had its target price reduced by equities research analysts at Rosenblatt Securities from $26.00 to $18.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Rosenblatt Securities’ price target points to a potential upside of 145.90% from the stock’s previous close.

A number of other equities analysts have also weighed in on the stock. B. Riley restated a “buy” rating and set a $26.00 price target on shares of Silvaco Group in a research report on Thursday, September 19th. TD Cowen dropped their price target 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 reduced their price objective on Silvaco Group from $25.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Needham & Company LLC dropped their target price on Silvaco Group from $26.00 to $19.00 and set a “buy” rating for the company in a report on Thursday. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $20.83.

Silvaco Group Stock Down 1.7 %

Shares of SVCO stock traded down $0.13 on Thursday, reaching $7.32. 852,215 shares of the company were exchanged, compared to its average volume of 373,585. Silvaco Group has a 1 year low of $7.26 and a 1 year high of $21.59. The firm has a 50-day moving average of $14.47.

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 during the quarter, compared to analyst estimates of $14.68 million. On average, analysts expect that Silvaco Group will post -0.63 earnings per share for the current year.

Hedge Funds Weigh In On Silvaco Group

A number of hedge funds have recently modified their holdings of SVCO. Lynrock Lake LP acquired a new position in Silvaco Group during the 2nd quarter worth about $3,596,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Silvaco Group in the second quarter valued at approximately $3,485,000. First Eagle Investment Management LLC purchased a new stake in Silvaco Group during the 2nd quarter worth approximately $3,469,000. Davidson Kempner Capital Management LP acquired a new stake in Silvaco Group during the 2nd quarter worth approximately $3,182,000. Finally, Ovata Capital Management Ltd purchased a new position in Silvaco Group in the 2nd quarter valued at approximately $1,618,000.

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.