Silvaco Group (NASDAQ:SVCO) Price Target Cut to $17.00

Silvaco Group (NASDAQ:SVCO) had its price objective decreased by Craig Hallum from $25.00 to $17.00 in a research note released on Wednesday morning, Benzinga reports. Craig Hallum currently has a buy rating on the stock.

SVCO has been the subject of a number of other research reports. TD Cowen dropped their price target on shares of Silvaco Group from $23.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday. Rosenblatt Securities reissued a “buy” rating and issued a $26.00 target price on shares of Silvaco Group in a research report on Tuesday, September 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 price target on shares of Silvaco Group in a research report on Friday, June 21st. Finally, B. Riley reissued a “buy” rating and issued a $26.00 price objective on shares of Silvaco Group in a report on Thursday, September 19th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Silvaco Group currently has a consensus rating of “Buy” and a consensus price target of $23.67.

Silvaco Group Price Performance

NASDAQ:SVCO opened at $7.45 on Wednesday. The firm has a 50-day moving average price of $14.47. Silvaco Group has a 1-year low of $7.34 and a 1-year high of $21.59.

Silvaco Group (NASDAQ:SVCO) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.14). The company had revenue of $14.96 million during the quarter, compared to analysts’ expectations of $14.68 million. As a group, sell-side analysts expect that Silvaco Group will post -0.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SVCO. Lynrock Lake LP bought a new position in Silvaco Group in the second quarter worth about $3,596,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Silvaco Group during the 2nd quarter worth approximately $3,485,000. First Eagle Investment Management LLC bought a new stake in shares of Silvaco Group in the 2nd quarter worth approximately $3,469,000. Davidson Kempner Capital Management LP acquired a new position in Silvaco Group during the 2nd quarter valued at approximately $3,182,000. Finally, Ovata Capital Management Ltd bought a new position in Silvaco Group during the 2nd quarter worth $1,618,000.

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.