Silvaco Group (NASDAQ:SVCO) Stock Price Down 0.2% - Here's Why

Silvaco Group, Inc. (NASDAQ:SVCO - Get Free Report) dropped 0.2% on Wednesday . The stock traded as low as $4.23 and last traded at $4.32. Approximately 93,765 shares changed hands during trading, a decline of 64% from the average daily volume of 257,824 shares. The stock had previously closed at $4.33.

Wall Street Analysts Forecast Growth

SVCO has been the topic of several analyst reports. Needham & Company LLC cut their target price on Silvaco Group from $19.00 to $10.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Rosenblatt Securities cut their target price on Silvaco Group from $18.00 to $14.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $15.40.

Silvaco Group Trading Down 0.2%

The company has a 50-day simple moving average of $4.76 and a 200 day simple moving average of $5.73. The company has a market cap of $126.96 million, a P/E ratio of -1.87 and a beta of 3.05.

Insider Buying and Selling at Silvaco Group

In other Silvaco Group news, major shareholder Katherine S. Ngai-Pesic sold 15,000 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $4.91, for a total value of $73,650.00. Following the transaction, the insider owned 10,477,355 shares of the company's stock, valued at $51,443,813.05. This represents a 0.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Babak A. Taheri acquired 20,949 shares of the business's stock in a transaction on Friday, May 16th. The stock was acquired at an average cost of $4.93 per share, for a total transaction of $103,278.57. Following the transaction, the chief executive officer directly owned 785,031 shares in the company, valued at $3,870,202.83. The trade was a 2.74% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 38.40% of the company's stock.

Hedge Funds Weigh In On Silvaco Group

Several hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its position in Silvaco Group by 249.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 106,051 shares of the company's stock valued at $484,000 after acquiring an additional 75,675 shares during the last quarter. Strs Ohio bought a new position in shares of Silvaco Group during the 1st quarter worth $50,000. Yiheng Capital Management L.P. bought a new position in shares of Silvaco Group during the 1st quarter worth $4,616,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Silvaco Group during the 1st quarter worth $357,000. Finally, PDT Partners LLC bought a new position in shares of Silvaco Group during the 1st quarter worth $88,000.

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.

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