Rosenblatt Securities Reiterates Buy Rating for Silvaco Group (NASDAQ:SVCO)

Silvaco Group (NASDAQ:SVCO)‘s stock had its “buy” rating reissued by Rosenblatt Securities in a research report issued on Friday,Benzinga reports. They presently have a $14.00 price objective on the stock. Rosenblatt Securities’ target price suggests a potential upside of 62.60% from the company’s previous close.

Several other brokerages have also commented on SVCO. Needham & Company LLC increased their price objective on Silvaco Group from $10.00 to $18.00 and gave the company a “buy” rating in a report on Monday, May 11th. Weiss Ratings upgraded Silvaco Group from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.67.

Silvaco Group Stock Up 3.7%

Shares of Silvaco Group stock opened at $8.61 on Friday. The firm’s 50 day moving average price is $10.56 and its 200-day moving average price is $7.98. Silvaco Group has a 52-week low of $3.07 and a 52-week high of $14.39. The company has a market cap of $281.37 million, a P/E ratio of -9.26 and a beta of 0.63.

Silvaco Group (NASDAQ:SVCO) last posted its earnings results on Thursday, August 6th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. The company had revenue of $17.81 million during the quarter, compared to analysts’ expectations of $17.90 million. Silvaco Group had a negative net margin of 41.65% and a negative return on equity of 21.93%. As a group, equities research analysts forecast that Silvaco Group will post -0.23 EPS for the current fiscal year.

Insider Activity

In other news, Director Katherine S. Ngai-Pesic sold 200,000 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $11.27, for a total value of $2,254,000.00. Following the sale, the director owned 9,176,403 shares in the company, valued at $103,418,061.81. This represents a 2.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 47.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Silvaco Group

A number of hedge funds and other institutional investors have recently made changes to their positions in SVCO. Global Retirement Partners LLC acquired a new position in shares of Silvaco Group in the 2nd quarter valued at $27,000. Bank of New York Mellon Corp acquired a new stake in Silvaco Group during the second quarter valued at $437,000. GSA Capital Partners LLP acquired a new stake in Silvaco Group during the second quarter valued at $190,000. Walleye Capital LLC acquired a new stake in Silvaco Group during the second quarter valued at $831,000. Finally, Bank of America Corp DE increased its holdings in Silvaco Group by 627.6% in the first quarter. Bank of America Corp DE now owns 171,762 shares of the company’s stock valued at $1,216,000 after buying an additional 148,156 shares in the last quarter.

About Silvaco Group

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.