As previously reported, TD Cowen initiated coverage of Silvaco with a Buy rating and $23 price target. The provider of design automation software catering to the Technology Computer Aided Design, or TCAD, Electronic Design & Automation, or EDA, and Semiconductor IP solutions markets for semiconductor companies has a strong market share position in the Display and Power markets in both TCAD and EDA, the analyst tells investors. The firm believes the company has the opportunity for its sales growth to outpace the industry’s rate, both organically and with new and existing customer account growth, end-market expansion, and new technology introductions, the analyst noted.