Silvaco Group (NASDAQ:SVCO) Updates FY 2024 Earnings Guidance

Silvaco Group (NASDAQ:SVCO) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.230-0.270 for the period, compared to the consensus estimate of 0.240. The company issued revenue guidance of $59.5 million-$59.9 million, compared to the consensus revenue estimate of $61.4 million.

Silvaco Group Stock Performance

SVCO stock opened at $8.37 on Thursday. The business has a fifty day simple moving average of $8.08 and a 200-day simple moving average of $11.74. Silvaco Group has a 52 week low of $6.14 and a 52 week high of $21.59.

Wall Street Analyst Weigh In

SVCO has been the topic of a number of research reports. Needham & Company LLC restated a “buy” rating and issued a $19.00 price objective on shares of Silvaco Group in a report on Wednesday, November 13th. Rosenblatt Securities restated a “buy” rating and issued a $18.00 price target on shares of Silvaco Group in a report on Wednesday, January 15th. Craig Hallum decreased their price objective on shares of Silvaco Group from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. Finally, TD Cowen cut their target price on shares of Silvaco Group from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $19.67.

Insiders Place Their Bets

In other news, insider Eric Guichard sold 25,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $7.19, for a total transaction of $179,750.00. Following the completion of the sale, the insider now directly owns 57,902 shares in the company, valued at $416,315.38. This trade represents a 30.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

About Silvaco Group

Silvaco Group Inc is a provider of TCAD, EDA software and SIP solutions which enable semiconductor design and AI through software and innovation. The company’s solutions are used for process and device development across display, power devices, automotive, memory, high performance compute, photonics, internet of things and 5G/6G mobile markets for complex SoC design.