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.

Silvaco Group Stock Up 1.4 %

Silvaco Group stock opened at $9.80 on Friday. Silvaco Group has a 12-month low of $6.14 and a 12-month high of $21.59. The firm’s 50-day moving average is $8.17 and its two-hundred day moving average is $11.65.

Analyst Upgrades and Downgrades

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

Insider Activity at Silvaco Group

In other Silvaco Group news, insider Eric Guichard sold 25,000 shares of Silvaco Group stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $7.19, for a total transaction of $179,750.00. Following the transaction, the insider now directly owns 57,902 shares of the company’s stock, valued at $416,315.38. The trade was a 30.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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.