Silvaco Group (NASDAQ:SVCO) Stock Price Target Cut by TD Cowen

Silvaco Group (NASDAQ:SVCO) had its target price lowered by equities research analysts at TD Cowen from $15.00 to $12.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen‘s target price suggests a potential upside of 70.70% from the stock’s current price.

Several other research firms have also commented on SVCO. Rosenblatt Securities restated a “buy” rating and set a $14.00 price target on shares of Silvaco Group in a research report on Wednesday, September 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Silvaco Group in a report on Tuesday, October 6th. Finally, B. Riley Financial reiterated a “buy” rating and issued a $11.00 price objective (down from $16.00) on shares of Silvaco Group in a research report on Monday, November 2nd. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $13.75.

Silvaco Group Price Performance

Shares of NASDAQ SVCO traded up $0.30 during mid-day trading on Thursday, hitting $7.03. The company had a trading volume of 415,287 shares, compared to its average volume of 278,023. The stock has a market cap of $238.25 million, a price-to-earnings ratio of -10.34 and a beta of 0.64. Silvaco Group has a 12 month low of $3.07 and a 12 month high of $14.39. The firm’s 50 day simple moving average is $7.12 and its two-hundred day simple moving average is $7.71.

Silvaco Group (NASDAQ:SVCO) last released its quarterly earnings data on Wednesday, November 4th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.05). The company had revenue of $16.29 million for the quarter, compared to analyst estimates of $17.08 million. Silvaco Group had a negative net margin of 30.43% and a negative return on equity of 15.29%. Equities analysts forecast that Silvaco Group will post -0.23 earnings per share for the current year.

Institutional Trading of Silvaco Group

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Silvaco Group in the second quarter worth $11,080,000. Algert Global LLC acquired a new stake in Silvaco Group in the second quarter worth about $4,962,000. Bank of America Corp DE acquired a new stake in Silvaco Group in the second quarter worth about $2,270,000. Russell Investments Group Ltd. lifted its holdings in Silvaco Group by 555.5% in the third quarter. Russell Investments Group Ltd. now owns 245,712 shares of the company’s stock worth $2,152,000 after purchasing an additional 208,227 shares during the period. Finally, Walleye Capital LLC grew its position in Silvaco Group by 2,239.8% in the 1st quarter. Walleye Capital LLC now owns 263,152 shares of the company’s stock valued at $1,863,000 after buying an additional 251,905 shares in the last quarter.

Silvaco Group Company Profile

Silvaco Group, Inc is a semiconductor design software and intellectual property company that provides electronic design automation (EDA) and technology computer-aided design (TCAD) solutions. Its products help semiconductor manufacturers and electronics companies develop, simulate, verify and optimize integrated circuits, semiconductor devices and related technologies.

The company’s offerings support multiple stages of the chip-development process, including process and device modeling, circuit simulation, physical design, layout automation and design-rule verification.