Silvaco Group’s (SVCO) Buy Rating Reiterated at Needham & Company LLC

Silvaco Group (NASDAQ:SVCO)‘s stock had its “buy” rating reaffirmed by equities researchers at Needham & Company LLC in a research note issued on Wednesday,Benzinga reports. They presently have a $19.00 price target on the stock. Needham & Company LLC’s price target points to a potential upside of 148.69% from the company’s current price.

Other analysts have also issued reports about the stock. TD Cowen decreased their target price on shares of Silvaco Group from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday. Rosenblatt Securities dropped 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. B. Riley reiterated a “buy” rating and issued a $26.00 price target on shares of Silvaco Group in a research report on Thursday, September 19th. Finally, Craig Hallum cut their price objective on Silvaco Group from $25.00 to $17.00 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 MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $20.00.

Silvaco Group Price Performance

Shares of SVCO opened at $7.64 on Wednesday. Silvaco Group has a 52 week low of $6.14 and a 52 week high of $21.59. The company’s 50-day moving average is $10.84.

Institutional Investors Weigh In On Silvaco Group

A number of large investors have recently bought and sold shares of SVCO. MeadowBrook Investment Advisors LLC raised its position in Silvaco Group by 106.2% in the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 13,260 shares of the company’s stock valued at $190,000 after purchasing an additional 6,830 shares during the last quarter. Federated Hermes Inc. acquired a new stake in shares of Silvaco Group in the second quarter valued at $216,000. Verition Fund Management LLC bought a new position in shares of Silvaco Group in the third quarter valued at about $217,000. Point72 DIFC Ltd acquired a new position in Silvaco Group during the 2nd quarter worth about $235,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Silvaco Group during the 2nd quarter worth about $366,000.

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.