Silvaco Group (NASDAQ:SVCO) Given "Buy" Rating at Needham & Company LLC

Silvaco Group (NASDAQ:SVCO - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at Needham & Company LLC in a report released on Wednesday,Benzinga reports. They currently have a $19.00 target price on the stock. Needham & Company LLC's target price would suggest a potential upside of 152.32% from the stock's previous close.

A number of other research firms have also weighed in on SVCO. TD Cowen lowered their price objective on Silvaco Group from $20.00 to $15.00 and set a "buy" rating on the stock in a research note on Wednesday. B. Riley reiterated a "buy" rating and issued a $26.00 price objective on shares of Silvaco Group in a research report on Thursday, September 19th. 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 research report on Thursday, October 17th. Finally, Craig Hallum cut their target price on shares of Silvaco Group from $25.00 to $17.00 and set a "buy" rating on the stock in a research note on Wednesday, October 16th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $20.00.

Silvaco Group Stock Up 8.7 %

Shares of Silvaco Group stock traded up $0.60 during trading hours on Wednesday, reaching $7.53. 559,101 shares of the company's stock were exchanged, compared to its average volume of 387,875. The firm has a fifty day moving average price of $10.98. Silvaco Group has a 1 year low of $6.14 and a 1 year high of $21.59.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SVCO. Allspring Global Investments Holdings LLC acquired a new stake in shares of Silvaco Group during the second quarter worth about $3,485,000. Ovata Capital Management Ltd purchased a new position in shares of Silvaco Group in the 2nd quarter valued at approximately $1,618,000. Federated Hermes Inc. purchased a new stake in shares of Silvaco Group during the second quarter worth approximately $216,000. First Eagle Investment Management LLC acquired a new stake in shares of Silvaco Group during the second quarter worth $3,469,000. Finally, XTX Topco Ltd purchased a new position in Silvaco Group in the 2nd quarter valued at $402,000.

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.