Silvaco Group, Inc. (NASDAQ:SVCO) Sees Large Growth in Short Interest

Silvaco Group, Inc. (NASDAQ:SVCO - Get Free Report) was the recipient of a significant increase in short interest during the month of August. As of August 15th, there was short interest totalling 352,100 shares, an increase of 39.2% from the July 31st total of 253,000 shares. Currently, 6.6% of the shares of the company are sold short. Based on an average daily trading volume, of 260,100 shares, the short-interest ratio is currently 1.4 days.

Institutional Investors Weigh In On Silvaco Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. acquired a new position in shares of Silvaco Group during the 2nd quarter worth approximately $1,182,000. Lynrock Lake LP acquired a new stake in Silvaco Group during the second quarter worth about $3,596,000. Squarepoint Ops LLC purchased a new position in Silvaco Group during the second quarter worth about $640,000. Cubist Systematic Strategies LLC acquired a new position in Silvaco Group in the 2nd quarter valued at about $366,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of Silvaco Group in the 2nd quarter valued at approximately $235,000.

Silvaco Group Stock Up 0.1 %

SVCO traded up $0.01 during midday trading on Friday, hitting $15.45. 117,996 shares of the company traded hands, compared to its average volume of 253,917. The stock's 50 day moving average price is $17.40. Silvaco Group has a 52-week low of $15.01 and a 52-week high of $21.59.

Silvaco Group (NASDAQ:SVCO - Get Free Report) last issued 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 company had revenue of $14.96 million for the quarter, compared to analysts' expectations of $14.68 million. On average, research analysts forecast that Silvaco Group will post -0.63 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on SVCO. TD Cowen started coverage on shares of Silvaco Group in a report on Monday, June 3rd. They issued a "buy" rating and a $23.00 price objective on the stock. B. Riley reiterated a "buy" rating and set a $28.00 price target (up from $26.00) on shares of Silvaco Group in a research report on Friday, June 21st. Jefferies Financial Group started coverage on shares of Silvaco Group in a research note on Monday, June 3rd. They set a "buy" rating and a $25.00 price objective on the stock. Needham & Company LLC reissued a "buy" rating and set a $28.00 price target on shares of Silvaco Group in a report on Friday, June 21st. Finally, Craig Hallum started coverage on shares of Silvaco Group in a report on Tuesday, June 4th. They issued a "buy" rating and a $25.00 price objective for the company. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $25.83.

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.