Silvaco Analysts Recommend The Stock As Unique Small-Cap Opportunity In Semiconductor Design
Silvaco Analysts Recommend The Stock As Unique Small-Cap Opportunity In Semiconductor Design
Needham analyst Charles Shi initiated coverage with a Buy rating and price target of $28.Rosenblatt analyst Blair Abernethy initiated coverage on Silvaco Group Inc (NASDAQ:SVCO) with a Buy rating and a price target of $26.
羅森布拉特分析師布萊爾·阿伯內西（Blair Abernethy）以買入評級和26美元的目標價，開始覆蓋Silvaco Group Inc（納斯達克股票代碼：SVCO）的股票。
According to Abernethy, Silvaco, which conducted its initial public offering (IPO) in early May, will continue to benefit from the secular tailwinds driving the electronic design automation (EDA) software market. It is well-positioned to leverage its established technology computer-aided design (TCAD)/EDA software tool franchise to drive healthy organic revenue growth with improving operating margins over the medium term.
根據阿伯內西的說法，Silvaco在五月初進行首次公開募股（IPO），將繼續從引領電子設計自動化（EDA）軟件市場的結構性順風的推動中獲益。它有優勢來利用其已經建立的技術計算機輔助設計（TCAD）/ EDA軟件工具特許經營權，以在中期實現健康的有機營收增長和不斷提高營業利潤率。
Silvaco holds a strong TCAD market position in the display, memory, and power markets, with opportunities for additional growth from its new FTCO solution and SIP portfolio. Abernethy said Silvaco has added capital to support its go-to-market and tuck-in technology acquisition programs. At current price levels, Abernethy noted the stock as attractive.
Silvaco在顯示、存儲和電源市場中擁有強大的 TCAD 市場地位，還有機會從其新的 FTCO 解決方案和 SIP 投資組合中實現額外增長。阿伯內西表示，Silvaco已經增加了資本來支持其市場推廣和併購計劃。在目前的價格水平下，阿伯內西認爲股票很吸引人。
Needham analyst Charles Shi initiated coverage with a Buy rating and price target of $28.
尼德姆分析師查爾斯·史（Charles Shi）以買入評級和28美元的目標價開始覆蓋股票。
Shi noted that Silvaco is the first and only small-cap EDA company to enter the equity market in many years. The sector has been dominated by large-cap companies like Cadence Design Systems, Inc (NASDAQ:CDNS) and Synopsys, Inc (NASDAQ:SNPS).
史指出，Silvaco是多年來首家也是唯一一家進入股權市場的小型 EDA 公司。該領域一直被Cadence Design Systems,Inc（納斯達克股票代碼：CDNS）和Synopsys,Inc（納斯達克股票代碼：SNPS）等大型公司所主導。
According to the analyst, Silvaco is a primary provider of TCAD, the foundational EDA that enables design technology co-optimization (DTCO) in today's semiconductor manufacturing and design. Silvaco generates ~60% of its revenue from TCAD, a branch of EDA that models the underlying physics of semiconductor processes and devices.
根據該分析師的說法，Silvaco 是 TCAD 的主要提供商，這是當今半導體制造和設計中啓用設計技術優化（DTCO）的基礎 EDA。 Silvaco 的 ~60% 的收入來自 TCAD，EDA 的一個分支，該分支可以模擬半導體過程和器件的基礎物理過程。
Without TCAD, manufacturers would not be able to promptly bring new process technology to the market, and designers would not be able to design chips properly to the underlying physics, Shin said. He noted TCAD, as a sticky and profitable business, will remain Silvaco's most important growth driver over the coming years.
如果沒有 TCAD，製造商將無法快速將新工藝技術推向市場，設計師也將無法根據基礎物理設計芯片，史說。他指出，作爲一項積極有益的業務，TCAD 將在未來幾年保持 Silvaco 最重要的增長驅動力。
Shi noted that Silvaco generated an 8% operating margin in 2023 but is targeting 25%+ over the long term. With the EDA industry growing at a low double-digit pace and Silvaco growing in line or faster than EDA, the analyst noted that the company could expand its operating margin beyond 20% in just 1-2 years.
史指出，Silvaco在2023年實現了8%的營業利潤率，但長期目標爲25%或以上。隨着 EDA 行業以低兩位數的速度增長，而 Silvaco 在 EDA 中以與 EDA 相當或更快的速度增長，分析師指出公司可以在1-2年內將營業利潤率擴大到超過20%。
He expects the company to improve its operating margin to 25% while maintaining double-digit growth over the coming years. Shi noted Silvaco provides investors looking to invest in EDA, a rare small-cap alternative to CDNS and SNPS.
他預計該公司在未來幾年將提高營業利潤率至25%，同時保持兩位數的增長，Silvaco 爲那些想要投資EDA，並且想尋求一個罕見的小型公司作爲 CDNS 和 SNPS 的替代選擇的投資者提供了一個機會。
Shi projected 2024 revenue and EPS of $66.4 million and $0.30, respectively.
史預計 2024 年的收入和每股收益分別爲 6640 萬美元和 0.3 美元。
Price Action: SVCO shares traded lower by 0.85% at $18.12 at the last check Monday.
目前股票價格爲18.12美元，在週一最後查看時下跌了0.85%。
Photo via Shutterstock
圖片來自shutterstock。
譯文內容由第三人軟體翻譯。