Short Interest in Silvaco Group, Inc. (NASDAQ:SVCO) Rises By 17.8%

Silvaco Group, Inc. (NASDAQ:SVCO) saw a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 682,900 shares, a growth of 17.8% from the September 30th total of 579,800 shares. Currently, 12.8% of the company’s shares are sold short. Based on an average daily trading volume, of 491,300 shares, the days-to-cover ratio is currently 1.4 days.

Analysts Set New Price Targets

Several analysts have commented on SVCO shares. B. Riley restated a “buy” rating and issued a $26.00 price target on shares of Silvaco Group in a report on Thursday, September 19th. Craig Hallum decreased their target price on Silvaco Group from $25.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Rosenblatt Securities decreased their target price on Silvaco Group from $26.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Needham & Company LLC decreased their target price on Silvaco Group from $26.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Finally, TD Cowen decreased their target price on Silvaco Group from $23.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Silvaco Group currently has an average rating of “Buy” and a consensus price target of $20.83.

Hedge Funds Weigh In On Silvaco Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Federated Hermes Inc. purchased a new position in Silvaco Group in the 2nd quarter worth approximately $216,000. Point72 DIFC Ltd acquired a new position in shares of Silvaco Group in the 2nd quarter valued at approximately $235,000. Cubist Systematic Strategies LLC acquired a new position in shares of Silvaco Group in the 2nd quarter valued at approximately $366,000. XTX Topco Ltd acquired a new position in shares of Silvaco Group in the 2nd quarter valued at approximately $402,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Silvaco Group in the 2nd quarter valued at approximately $640,000.

Silvaco Group Price Performance

NASDAQ SVCO opened at $6.83 on Wednesday. Silvaco Group has a fifty-two week low of $6.14 and a fifty-two week high of $21.59. The business has a 50 day moving average of $12.82.

Silvaco Group (NASDAQ:SVCO) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.14). The business had revenue of $14.96 million during the quarter, compared to analysts’ expectations of $14.68 million. As a group, sell-side analysts forecast that Silvaco Group will post -0.74 earnings per share for the current fiscal year.

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.