TD Cowen lowered the firm’s price target on Silvaco to $20 from $23 and keeps a Buy rating on the shares. The firm said a pushout of $5M FTCO revenue into the December 2024 quarter compounded by order freezes at four domestic Chinese customers and a Taiwan firm primarily in auto (SiP) and power markets (SiC & GAN TCAD) led to the Sept 24 quarter miss and a revised 2024 outlook.
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