Silvaco Group (NASDAQ:SVCO) Price Target Raised to $18.00

Key Points

• Needham & Company raised Silvaco Group’s price target from $10 to $18 and kept a buy rating, implying about 56.7% upside from the previous close.
• Other analysts have also been updating their views: Rosenblatt lifted its target to $14 with a buy rating, while the broader consensus remains a Moderate Buy with an average target of $12.67.
• Silvaco recently reported better-than-expected quarterly results, posting EPS of -$0.02 versus a -$0.05 estimate and revenue of $17.76 million, though the company still has negative margins and is expected to post a full-year loss.

Silvaco Group (NASDAQ:SVCO - Get Free Report) had its price objective hoisted by research analysts at Needham & Company LLC from $10.00 to $18.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Needham & Company LLC's target price points to a potential upside of 56.66% from the stock's previous close.

Several other research analysts also recently weighed in on SVCO. Rosenblatt Securities upped their price target on shares of Silvaco Group from $9.00 to $14.00 and gave the stock a "buy" rating in a research report on Friday. Weiss Ratings upgraded shares of Silvaco Group from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, April 24th. Wall Street Zen upgraded shares of Silvaco Group from a "sell" rating to a "hold" rating in a research report on Saturday, March 14th. Finally, TD Cowen cut their price objective on shares of Silvaco Group from $8.00 to $6.00 and set a "buy" rating for the company in a report on Friday, March 13th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Silvaco Group presently has a consensus rating of "Moderate Buy" and an average price target of $12.67.

Silvaco Group Price Performance

SVCO opened at $11.49 on Monday. Silvaco Group has a twelve month low of $3.07 and a twelve month high of $12.81. The company has a 50-day moving average price of $6.90 and a 200 day moving average price of $5.34. The company has a market cap of $375.49 million, a PE ratio of -12.35 and a beta of 0.88.

Silvaco Group (NASDAQ:SVCO - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $17.76 million during the quarter, compared to the consensus estimate of $17.04 million. As a group, sell-side analysts expect that Silvaco Group will post -0.36 earnings per share for the current year.

Institutional Trading of Silvaco Group

A number of hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its holdings in Silvaco Group by 32.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 33,231 shares of the company's stock valued at $235,000 after acquiring an additional 8,186 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Silvaco Group by 20.2% in the 1st quarter. Bank of New York Mellon Corp now owns 23,012 shares of the company's stock valued at $163,000 after buying an additional 3,871 shares during the period. R Squared Ltd purchased a new stake in shares of Silvaco Group in the 1st quarter valued at approximately $99,000. Lepercq De Neuflize Asset Management LLC purchased a new stake in shares of Silvaco Group in the 4th quarter valued at approximately $357,000. Finally, Lynrock Lake LP grew its stake in shares of Silvaco Group by 132.3% in the 4th quarter. Lynrock Lake LP now owns 472,764 shares of the company's stock valued at $1,915,000 after buying an additional 269,283 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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