Silvaco price target raised to $18 from $10 at Needham

Needham raised the firm’s price target on Silvaco (SVCO) to $18 from $10 and keeps a Buy rating on the shares. The company reported Q1 revenue slightly above guidance, with segment results mixed, though further operating expense reduction is expected as previous expense reduction plans begin to show their benefits, and Silvaco’s IP segment is expected to deliver steady growth through the year, the analyst tells investors in a research note.