Silvaco Group (NASDAQ:SVCO) Issues 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.

Analyst Upgrades and Downgrades

Several brokerages have issued reports 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 research note on Wednesday, November 13th. Craig Hallum reduced their price objective on Silvaco Group from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th. Needham & Company LLC reiterated a “buy” rating and set a $19.00 target price on shares of Silvaco Group in a research note 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 report on Wednesday, January 15th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $19.67.

Silvaco Group Stock Performance

Silvaco Group stock opened at $8.37 on Thursday. Silvaco Group has a one year low of $6.14 and a one year high of $21.59. The company has a 50-day simple moving average of $8.08 and a 200-day simple moving average of $11.74.

Insiders Place Their Bets

In other news, insider Eric Guichard sold 25,000 shares of the stock in a transaction 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 transaction, the insider now owns 57,902 shares of the company’s stock, valued at approximately $416,315.38. This represents a 30.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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.