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

Silvaco Group (NASDAQ:SVCO) updated its FY 2024 earnings guidance on Thursday. 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.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Craig Hallum reduced their target price 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 reissued a “buy” rating and set a $19.00 target price on shares of Silvaco Group in a research note on Wednesday, November 13th. TD Cowen dropped their price target on Silvaco Group from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Finally, Rosenblatt Securities restated a “buy” rating and set a $18.00 price target on shares of Silvaco Group in a research report on Wednesday, January 15th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $19.67.

Silvaco Group Stock Performance

NASDAQ SVCO opened at $9.66 on Friday. Silvaco Group has a twelve month low of $6.14 and a twelve month high of $21.59. The stock’s 50 day moving average is $8.13 and its 200 day moving average is $11.72.

Insiders Place Their Bets

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

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.