Craig-Hallum lowered the firm’s price target on Silvaco to $17 from $25 and keeps a Buy rating on the shares. The firm notes Silvaco negatively pre-released its Q3 results as the company saw a large order of approximately $5M previously expected in Q3 push out to the first week of Q4. The company said similar to trends observed across the semiconductor industry they saw a decline in orders from Asia during Q3 primarily driven by economic challenges and the ongoing strain form U.S./China trade relations. Craig-Hallum believes the delayed orders are primarily in the automotive and power end markets.
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