Silvaco Group Inc (SVCO) PT Raised to $18 at Needham

Needham analyst Charles Shi raised the price target on Silvaco Group Inc (NASDAQ: SVCO) to $18.00 (from $10.00) while maintaining a Buy rating.

The analyst comments "Silvaco reported 1Q26 revenue of $17.8MM, slightly above guidance, with segment results mixed. TCAD growing sequentially and was driven by Silvaco's FTCO (fab technology co-optimization) product, which is now serving three customers (original customer Micron, now two others). Revenue was guided to $18.0MM and further OpEx reduction is expected as previous expense reduction plans begin to show their benefits. The IP segment is expected to deliver steady growth through the year, and TCAD is also expected higher, along with non-GAAP gross margins which are expected in the mid-high 80% range. Longer-term, management noted opportunities are emerging around compound semiconductors and photonics. Our new PT of $18 is based EV/sales, 7x our updated CY27 sales of $79MM. Maintain Buy."

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