Silvaco Group (NASDAQ:SVCO) Price Target Cut to $20.00

Silvaco Group (NASDAQ:SVCO) had its price objective reduced by equities research analysts at TD Cowen from $23.00 to $20.00 in a research note issued to investors on Wednesday, Marketbeat reports. The firm currently has a “buy” rating on the stock. TD Cowen’s price objective suggests a potential upside of 178.94% from the stock’s previous close.

A number of other equities research analysts have also commented on SVCO. Rosenblatt Securities restated a “buy” rating and set a $26.00 price target on shares of Silvaco Group in a research report on Tuesday, September 17th. B. Riley restated a “buy” rating and set a $26.00 price target on shares of Silvaco Group in a research report on Thursday, September 19th. Finally, Needham & Company LLC restated a “buy” rating and set a $28.00 price target on shares of Silvaco Group in a research report on Friday, June 21st. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Silvaco Group currently has a consensus rating of “Buy” and an average target price of $20.83.

Silvaco Group Stock Down 3.8 %

Shares of SVCO opened at $7.17 on Wednesday. Silvaco Group has a 1 year low of $7.11 and a 1 year high of $21.59. The stock has a 50 day moving average of $14.30.

Silvaco Group (NASDAQ:SVCO) last released 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 analyst estimates of $14.68 million. As a group, equities research analysts expect that Silvaco Group will post -0.63 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Federated Hermes Inc. bought a new position in shares of Silvaco Group in the 2nd quarter worth $216,000. Point72 DIFC Ltd bought a new position in shares of Silvaco Group in the 2nd quarter worth $235,000. Cubist Systematic Strategies LLC bought a new position in shares of Silvaco Group in the 2nd quarter worth $366,000. XTX Topco Ltd bought a new position in shares of Silvaco Group in the 2nd quarter worth $402,000. Finally, Squarepoint Ops LLC bought a new position in shares of Silvaco Group in the 2nd quarter worth $640,000.

About Silvaco Group

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.