Bank of America Corp DE Makes New $2.27 Million Investment in Silvaco Group, Inc. $SVCO

Key Points

• Bank of America initiated a position in Silvaco Group during the second quarter, purchasing 164,618 shares worth approximately $2.27 million, or about 0.49% of the company.
• Several other institutions also established stakes, including BlackRock with an investment valued at approximately $11.08 million and Algert Global with nearly $4.96 million.
• Silvaco reported quarterly revenue of $17.81 million and earnings per share of $0.01, while analysts maintain a “Moderate Buy” consensus with an average price target of $12.67 versus the stock’s reported $8.76 price.

Bank of America Corp DE bought a new position in shares of Silvaco Group, Inc. (NASDAQ:SVCO - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 164,618 shares of the company's stock, valued at approximately $2,270,000. Bank of America Corp DE owned approximately 0.49% of Silvaco Group at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in SVCO. Algert Global LLC purchased a new stake in Silvaco Group during the second quarter valued at approximately $4,962,000. Quantbot Technologies LP acquired a new position in shares of Silvaco Group during the second quarter worth $28,000. BlackRock Inc. acquired a new position in shares of Silvaco Group during the second quarter worth $11,080,000. Deutsche Bank AG purchased a new stake in shares of Silvaco Group during the 2nd quarter valued at $167,000. Finally, Global Retirement Partners LLC purchased a new stake in shares of Silvaco Group during the 2nd quarter valued at $27,000.

Silvaco Group Stock Performance

Shares of SVCO opened at $8.76 on Thursday. The stock has a 50-day moving average of $7.31 and a two-hundred day moving average of $8.89. Silvaco Group, Inc. has a one year low of $3.07 and a one year high of $14.39. The stock has a market cap of $296.88 million, a P/E ratio of -12.17 and a beta of 0.58.

Silvaco Group (NASDAQ:SVCO - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.01 earnings per share for the quarter, meeting analysts' consensus estimates of $0.01. Silvaco Group had a negative return on equity of 15.29% and a negative net margin of 30.43%.The business had revenue of $17.81 million for the quarter, compared to analyst estimates of $17.90 million. Analysts predict that Silvaco Group, Inc. will post -0.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SVCO. Rosenblatt Securities restated a "buy" rating and set a $14.00 target price on shares of Silvaco Group in a research note on Wednesday, September 23rd. Weiss Ratings raised Silvaco Group from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $12.67.

Silvaco Group Profile

Silvaco Group, Inc is a semiconductor design software and intellectual property company that provides electronic design automation (EDA) and technology computer-aided design (TCAD) solutions. Its software helps semiconductor manufacturers and chip designers model, develop, verify and optimize semiconductor devices and integrated circuits before production.

The company's offerings include tools for process and device simulation, analog and mixed-signal circuit design, semiconductor manufacturing analysis, and design-rule and modeling workflows.

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