Rosenblatt Securities Reiterates Buy Rating for Silvaco Group (NASDAQ:SVCO)

Key Points

• Rosenblatt Securities reiterated a Buy rating on Silvaco Group and set a $14 price target, implying approximately 84% upside from the reported $7.59 share price.
• Analyst sentiment is broadly positive: Silvaco has a consensus rating of Moderate Buy and an average target price of $12.67, with Needham recently raising its target to $18.
• Silvaco exceeded quarterly expectations, reporting an adjusted loss of $0.02 per share versus estimates of $0.05 and revenue of $17.75 million; however, the company remains unprofitable, with a negative net margin of 41.65%.

Silvaco Group (NASDAQ:SVCO - Get Free Report)'s stock had its "buy" rating restated by stock analysts at Rosenblatt Securities in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $14.00 target price on the stock. Rosenblatt Securities' price target would indicate a potential upside of 84.45% from the stock's current price.

Other analysts have also issued research reports about the company. Needham & Company LLC increased their price objective on Silvaco Group from $10.00 to $18.00 and gave the company a "buy" rating in a report on Monday, May 11th. Weiss Ratings upgraded Silvaco Group from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Silvaco Group has a consensus rating of "Moderate Buy" and an average target price of $12.67.

Silvaco Group Stock Up 9.8%

Shares of Silvaco Group stock opened at $7.59 on Friday. The company has a market cap of $248.05 million, a P/E ratio of -8.16 and a beta of 0.39. The firm's 50 day moving average price is $10.71 and its 200-day moving average price is $7.85. Silvaco Group has a 52-week low of $3.07 and a 52-week high of $14.39.

Silvaco Group (NASDAQ:SVCO - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($0.02) EPS for the quarter, beating analysts' consensus estimates of ($0.05) by $0.03. Silvaco Group had a negative net margin of 41.65% and a negative return on equity of 21.93%. The company had revenue of $17.75 million during the quarter, compared to analysts' expectations of $17.04 million. As a group, equities research analysts forecast that Silvaco Group will post -0.23 EPS for the current fiscal year.

Insider Activity

In other news, Director Katherine S. Ngai-Pesic sold 200,000 shares of Silvaco Group stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $11.27, for a total transaction of $2,254,000.00. Following the completion of the sale, the director directly owned 9,176,403 shares in the company, valued at approximately $103,418,061.81. The trade was a 2.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 47.90% of the company's stock.

Hedge Funds Weigh In On Silvaco Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in shares of Silvaco Group by 27.3% during the second quarter. JPMorgan Chase & Co. now owns 13,483 shares of the company's stock worth $64,000 after purchasing an additional 2,895 shares during the period. Wells Fargo & Company MN increased its holdings in Silvaco Group by 51.2% in the 4th quarter. Wells Fargo & Company MN now owns 9,093 shares of the company's stock worth $37,000 after buying an additional 3,079 shares during the period. Bank of New York Mellon Corp raised its position in Silvaco Group by 20.2% during the 1st quarter. Bank of New York Mellon Corp now owns 23,012 shares of the company's stock worth $163,000 after buying an additional 3,871 shares during the last quarter. Barclays PLC raised its position in Silvaco Group by 53.1% during the 4th quarter. Barclays PLC now owns 16,908 shares of the company's stock worth $68,000 after buying an additional 5,867 shares during the last quarter. Finally, PDT Partners LLC lifted its stake in Silvaco Group by 35.1% during the 2nd quarter. PDT Partners LLC now owns 25,969 shares of the company's stock valued at $123,000 after acquiring an additional 6,749 shares during the period.

About Silvaco Group

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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