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 guidance of 0.230-0.270 for the period, compared to the consensus earnings per share 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 Price Performance

Silvaco Group stock opened at $9.66 on Friday. The business’s fifty day simple moving average is $8.13 and its two-hundred day simple moving average is $11.72. Silvaco Group has a 12 month low of $6.14 and a 12 month high of $21.59.

Analyst Upgrades and Downgrades

SVCO has been the topic of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 price target on shares of Silvaco Group in a report on Wednesday, November 13th. Rosenblatt Securities reaffirmed a “buy” rating and set a $18.00 price target on shares of Silvaco Group in a report on Wednesday, January 15th. Craig Hallum lowered their price target on Silvaco Group from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th. Finally, TD Cowen lowered their price target on Silvaco Group from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Silvaco Group currently has an average rating of “Buy” and an average target price of $19.67.

Insider Activity at Silvaco Group

In related news, insider Eric Guichard sold 25,000 shares of the company’s stock in a transaction on 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 owns 57,902 shares in the company, valued at approximately $416,315.38. This represents a 30.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Silvaco Group Company Profile

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.