Silvaco Group (NASDAQ:SVCO) Issues 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 (EPS) guidance of 0.230-0.270 for the period, compared to the consensus 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 %

Shares of NASDAQ:SVCO opened at $9.80 on Friday. The company has a 50 day moving average of $8.17 and a two-hundred day moving average of $11.65. Silvaco Group has a 52-week low of $6.14 and a 52-week high of $21.59.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Silvaco Group

In other Silvaco Group news, insider Eric Guichard sold 25,000 shares of Silvaco Group stock in a transaction on Friday, November 15th. The shares were 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 $416,315.38. The trade was a 30.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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.