TD Cowen analyst Krish Sankar maintained a Buy rating on Silvaco Group, Inc. yesterday and set a price target of $8.00.
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Krish Sankar has given his Buy rating due to a combination of factors including the leadership of the new CEO, Mr. Wally Rhines, who brings a strong background in the industry and a focus on revenue growth and operational efficiency. Despite a disappointing December quarter guidance, the potential for improved fundamentals and profitability under the new management team is promising.
Key positives influencing the Buy rating include record quarterly revenue driven by a significant EDA contract, an operational expense reduction program aiming to save $15 million annually, and the unique FTCO product serving as a growth driver. Additionally, the integration of the Mixel Group is expected to provide a long-term growth runway for IP. While there are challenges such as slower revenue growth and strategic realignment, the long-term outlook remains favorable.
In another report released on November 4, Rosenblatt Securities also maintained a Buy rating on the stock with a $12.00 price target.
Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SVCO in relation to earlier this year.