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

Silvaco Group (NASDAQ:SVCO) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 0.230-0.270 for the period, compared to the consensus EPS 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.

Analysts Set New Price Targets

Several research firms have recently weighed in on SVCO. TD Cowen cut their price objective on Silvaco Group from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. 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 research report on Wednesday, January 15th. Needham & Company LLC reissued a “buy” rating and set a $19.00 target price on shares of Silvaco Group in a report on Wednesday, November 13th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $18.00 price target on shares of Silvaco Group in a research note on Wednesday, January 15th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $19.67.

Silvaco Group Stock Down 0.1 %

Shares of NASDAQ:SVCO opened at $8.37 on Thursday. Silvaco Group has a 12-month low of $6.14 and a 12-month high of $21.59. The business’s 50 day moving average is $8.08 and its 200 day moving average is $11.74.

Insider Buying and Selling at Silvaco Group

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

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.