Needham & Company LLC Cuts Silvaco Group (NASDAQ:SVCO) Price Target to $10.00

Silvaco Group (NASDAQ:SVCO - Free Report) had its target price trimmed by Needham & Company LLC from $19.00 to $10.00 in a research note published on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also recently weighed in on SVCO. Rosenblatt Securities lowered their price target on Silvaco Group from $18.00 to $14.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Craig Hallum dropped their target price on Silvaco Group from $17.00 to $15.00 and set a "buy" rating for the company in a research note on Wednesday, January 15th. Finally, TD Cowen cut their target price on Silvaco Group from $15.00 to $12.00 and set a "buy" rating on the stock in a research report on Thursday, March 6th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $17.00.

Silvaco Group Stock Up 5.1%

SVCO traded up $0.24 on Monday, hitting $4.96. 123,743 shares of the company traded hands, compared to its average volume of 281,733. The company has a 50 day moving average of $4.75 and a 200-day moving average of $6.60. The stock has a market capitalization of $145.75 million and a PE ratio of -2.15. Silvaco Group has a 12-month low of $3.55 and a 12-month high of $20.69.

Insider Buying and Selling

In other Silvaco Group news, major shareholder Katherine S. Ngai-Pesic sold 25,000 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $5.06, for a total transaction of $126,500.00. Following the sale, the insider now directly owns 10,461,105 shares of the company's stock, valued at $52,933,191.30. The trade was a 0.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 38.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Silvaco Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Squarepoint Ops LLC boosted its holdings in Silvaco Group by 4.8% in the fourth quarter. Squarepoint Ops LLC now owns 36,151 shares of the company's stock worth $292,000 after purchasing an additional 1,651 shares in the last quarter. R Squared Ltd acquired a new position in Silvaco Group in the fourth quarter worth about $25,000. Charles Schwab Investment Management Inc. raised its position in Silvaco Group by 8.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 60,724 shares of the company's stock worth $277,000 after purchasing an additional 4,667 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Silvaco Group in the first quarter worth about $30,000. Finally, Marshall Wace LLP raised its position in Silvaco Group by 15.1% in the fourth quarter. Marshall Wace LLP now owns 52,104 shares of the company's stock worth $421,000 after purchasing an additional 6,824 shares in the last quarter.

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.