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

by · The Markets Daily

Silvaco Group, Inc. (NASDAQ:SVCO – Get Free Report) was the recipient of a large increase in short interest in October. As of October 15th, there was short interest totalling 682,900 shares, an increase of 17.8% from the September 30th total of 579,800 shares. Based on an average daily trading volume, of 491,300 shares, the days-to-cover ratio is presently 1.4 days. Approximately 12.8% of the company’s shares are short sold.

Institutional Investors Weigh In On Silvaco Group

Several hedge funds have recently bought and sold shares of the company. Lynrock Lake LP acquired a new position in shares of Silvaco Group in the 2nd quarter valued at $3,596,000. Allspring Global Investments Holdings LLC bought a new position in Silvaco Group during the second quarter worth about $3,485,000. First Eagle Investment Management LLC acquired a new position in Silvaco Group in the second quarter valued at about $3,469,000. Davidson Kempner Capital Management LP bought a new stake in shares of Silvaco Group in the second quarter worth about $3,182,000. Finally, Ovata Capital Management Ltd acquired a new stake in shares of Silvaco Group during the second quarter worth about $1,618,000.

Silvaco Group Trading Up 3.5 %

NASDAQ:SVCO traded up $0.23 during mid-day trading on Tuesday, hitting $6.83. The company had a trading volume of 440,144 shares, compared to its average volume of 394,831. Silvaco Group has a fifty-two week low of $6.14 and a fifty-two week high of $21.59. The company has a fifty day moving average price of $12.82.

Silvaco Group (NASDAQ:SVCO – Get Free Report) last announced 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 analyst estimates of $14.68 million. Sell-side analysts predict that Silvaco Group will post -0.74 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Craig Hallum lowered their target price on Silvaco Group from $25.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Rosenblatt Securities lowered their price objective 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. B. Riley restated a “buy” rating and set a $26.00 target price on shares of Silvaco Group in a research report on Thursday, September 19th. Needham & Company LLC reduced their target price on shares of Silvaco Group from $26.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Finally, TD Cowen dropped their price target on shares of Silvaco Group from $23.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $20.83.

Check Out Our Latest Stock Analysis on Silvaco Group

About Silvaco Group

(Get Free Report)

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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