Needham & Company LLC Reiterates Buy Rating for Silvaco Group (NASDAQ:SVCO)

Silvaco Group (NASDAQ:SVCO)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a report issued on Monday,Benzinga reports. They currently have a $10.00 price objective on the stock. Needham & Company LLC’s price target suggests a potential upside of 98.81% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Silvaco Group in a research note on Thursday, January 22nd. Wall Street Zen raised Silvaco Group from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, TD Cowen decreased their target price 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. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $9.33.

Silvaco Group Price Performance

NASDAQ:SVCO opened at $5.03 on Monday. The firm’s 50 day simple moving average is $4.00 and its 200 day simple moving average is $4.67. The company has a market cap of $158.14 million, a PE ratio of -3.57 and a beta of 3.48. Silvaco Group has a one year low of $3.07 and a one year high of $6.57.

Silvaco Group (NASDAQ:SVCO) last issued its quarterly earnings data on Thursday, March 12th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.09. The company had revenue of $18.25 million for the quarter, compared to analysts’ expectations of $16.38 million. Silvaco Group had a negative net margin of 65.34% and a negative return on equity of 23.01%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. Equities research analysts expect that Silvaco Group will post -0.76 EPS for the current year.

Institutional Investors Weigh In On Silvaco Group

Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its holdings in shares of Silvaco Group by 27.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 13,483 shares of the company’s stock worth $64,000 after buying an additional 2,895 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Silvaco Group by 51.2% during the fourth quarter. Wells Fargo & Company MN now owns 9,093 shares of the company’s stock worth $37,000 after acquiring an additional 3,079 shares in the last quarter. Barclays PLC grew its holdings in Silvaco Group by 53.1% in the fourth quarter. Barclays PLC now owns 16,908 shares of the company’s stock worth $68,000 after purchasing an additional 5,867 shares during the period. PDT Partners LLC increased its stake in Silvaco Group by 35.1% in the second quarter. PDT Partners LLC now owns 25,969 shares of the company’s stock valued at $123,000 after purchasing an additional 6,749 shares in the last quarter. Finally, Blair William & Co. IL raised its holdings in shares of Silvaco Group by 41.2% during the third quarter. Blair William & Co. IL now owns 24,000 shares of the company’s stock valued at $130,000 after purchasing an additional 7,000 shares during the period.

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.