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

Silvaco Group (NASDAQ:SVCO) had its price target hoisted by research analysts at Needham & Company LLC from $10.00 to $18.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price would suggest a potential upside of 56.66% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Wall Street Zen raised shares of Silvaco Group from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Rosenblatt Securities increased their price objective 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 raised shares of Silvaco Group from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, April 24th. Finally, TD Cowen lowered their price objective on shares of Silvaco Group from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Friday, March 13th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.67.

Silvaco Group Price Performance

Silvaco Group stock opened at $11.49 on Monday. The firm has a 50 day simple moving average of $6.90 and a 200-day simple moving average of $5.34. Silvaco Group has a 1-year low of $3.07 and a 1-year high of $12.81. The stock has a market cap of $375.49 million, a price-to-earnings ratio of -12.35 and a beta of 0.88.

Silvaco Group (NASDAQ:SVCO) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.02) earnings per share for the quarter, beating 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 business had revenue of $17.76 million during the quarter, compared to analysts’ expectations of $17.04 million. Equities analysts expect that Silvaco Group will post -0.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Silvaco Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SVCO. Wells Fargo & Company MN boosted its position in Silvaco Group by 51.2% in the 4th quarter. Wells Fargo & Company MN now owns 9,093 shares of the company’s stock valued at $37,000 after buying an additional 3,079 shares during the period. Raymond James Financial Inc. purchased a new position in Silvaco Group in the 2nd quarter valued at approximately $38,000. HighTower Advisors LLC purchased a new position in Silvaco Group in the 4th quarter valued at approximately $41,000. Strs Ohio purchased a new position in Silvaco Group in the 1st quarter valued at approximately $50,000. Finally, Squarepoint Ops LLC purchased a new position in Silvaco Group in the 4th quarter valued at approximately $57,000.

Silvaco Group Company Profile

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.