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

Silvaco Group, Inc. (NASDAQ:SVCO - Get Free Report) was the target of a large growth in short interest during 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. Based on an average trading volume of 491,300 shares, the short-interest ratio is currently 1.4 days. Currently, 12.8% of the shares of the company are sold short.

Silvaco Group Stock Down 0.6 %

Shares of Silvaco Group stock traded down $0.04 on Monday, hitting $6.60. The company's stock had a trading volume of 263,197 shares, compared to its average volume of 394,445. The firm's fifty day moving average is $13.01. Silvaco Group has a 1 year low of $6.14 and a 1 year high of $21.59.

Silvaco Group (NASDAQ:SVCO - Get Free Report) last announced its earnings results on Wednesday, August 7th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.14). The firm had revenue of $14.96 million during the quarter, compared to analyst estimates of $14.68 million. On average, sell-side analysts expect that Silvaco Group will post -0.74 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Rosenblatt Securities reduced their target price on shares of 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 reduced their price objective on Silvaco Group from $26.00 to $19.00 and set a "buy" rating for the company in a research note on Thursday, October 17th. TD Cowen lowered their target price on Silvaco Group from $23.00 to $20.00 and set a "buy" rating on the stock in a research note on Wednesday, October 16th. Craig Hallum reduced their price target on Silvaco Group from $25.00 to $17.00 and set a "buy" rating for the company in a research report on Wednesday, October 16th. Finally, B. Riley restated a "buy" rating and issued a $26.00 price objective on shares of Silvaco Group in a research report on Thursday, September 19th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $20.83.

Institutional Trading of Silvaco Group

Several institutional investors have recently modified their holdings of SVCO. Point72 Asset Management L.P. acquired a new position in shares of Silvaco Group during the 2nd quarter worth about $1,182,000. Davidson Kempner Capital Management LP acquired a new position in shares of Silvaco Group during the second quarter valued at approximately $3,182,000. Ghisallo Capital Management LLC purchased a new position in shares of Silvaco Group in the second quarter valued at approximately $899,000. First Eagle Investment Management LLC purchased a new position in shares of Silvaco Group in the second quarter valued at approximately $3,469,000. Finally, Ovata Capital Management Ltd acquired a new stake in shares of Silvaco Group in the second quarter worth approximately $1,618,000.

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.

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