803,464 Shares in Silvaco Group, Inc. $SVCO Purchased by BlackRock Inc.

Key Points

• BlackRock acquired 803,464 shares of Silvaco Group during the second quarter, worth approximately $11.08 million and representing about 2.46% of the company. Several other institutional investors also initiated positions.
• Silvaco reported quarterly EPS of $0.01, in line with estimates, while revenue of $17.81 million slightly missed expectations. The company remains unprofitable, with a negative net margin of 30.43%.
• SVCO opened at $6.54, well below its 12-month high of $14.39. Despite recent insider selling, analysts maintain a consensus “Moderate Buy” rating with an average price target of $12.67.

BlackRock Inc. bought a new stake in shares of Silvaco Group, Inc. (NASDAQ:SVCO - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 803,464 shares of the company's stock, valued at approximately $11,080,000. BlackRock Inc. owned about 2.46% of Silvaco Group as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SVCO. Deutsche Bank AG bought a new stake in Silvaco Group during the 2nd quarter valued at about $167,000. Global Retirement Partners LLC purchased a new stake in Silvaco Group during the second quarter valued at $27,000. Bank of New York Mellon Corp bought a new stake in Silvaco Group during the 2nd quarter worth approximately $437,000. GSA Capital Partners LLP bought a new position in shares of Silvaco Group during the 2nd quarter valued at about $190,000. Finally, Walleye Capital LLC purchased a new position in shares of Silvaco Group in the 2nd quarter worth approximately $831,000.

Silvaco Group Price Performance

Shares of NASDAQ SVCO opened at $6.54 on Friday. The company has a 50-day simple moving average of $8.43 and a 200-day simple moving average of $8.36. Silvaco Group, Inc. has a 12 month low of $3.07 and a 12 month high of $14.39. The company has a market cap of $221.64 million, a PE ratio of -9.08 and a beta of 0.58.

Silvaco Group (NASDAQ:SVCO - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The firm had revenue of $17.81 million during the quarter, compared to analyst estimates of $17.90 million. Silvaco Group had a negative net margin of 30.43% and a negative return on equity of 15.29%. On average, analysts anticipate that Silvaco Group, Inc. will post -0.23 EPS for the current year.

Insider Buying and Selling

In other Silvaco Group news, Director Katherine Ngai-Pesic sold 200,000 shares of the company's stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $11.27, for a total value of $2,254,000.00. Following the transaction, the director owned 9,176,403 shares of the company's stock, valued at approximately $103,418,061.81. This represents a 2.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 208,607 shares of company stock valued at $2,316,712 in the last quarter. 47.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SVCO shares. Rosenblatt Securities reissued a "buy" rating and issued a $14.00 price objective on shares of Silvaco Group in a research note on Friday, August 7th. Weiss Ratings raised Silvaco Group from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, July 10th. Finally, Needham & Company LLC increased their price target on Silvaco Group from $10.00 to $18.00 and gave the company a "buy" rating in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $12.67.

Silvaco Group Company Profile

Silvaco Group, Inc is a provider of electronic design automation (EDA) software and semiconductor intellectual property (IP) solutions. Founded in 1984 and headquartered in Santa Clara, California, the company offers a suite of tools for process and device simulation, circuit design, verification, and physical implementation. Silvaco's core product lines include technology computer-aided design (TCAD) for process modeling, SPICE circuit simulators for analog and digital analysis, and layout and parasitic extraction tools for physical verification.

In addition to its EDA software, Silvaco delivers semiconductor IP in areas such as memory compilers, interface IP (including USB, PCI Express and DDR), and embedded analog/mixed-signal cores.

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