Silvaco Group (NASDAQ:SVCO - Get Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. 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.
Silvaco Group Trading Up 15.4 %
Shares of NASDAQ SVCO traded up $1.29 during mid-day trading on Thursday, hitting $9.66. The company had a trading volume of 885,043 shares, compared to its average volume of 174,394. The firm's 50 day simple moving average is $8.13 and its two-hundred day simple moving average is $11.72. Silvaco Group has a 12 month low of $6.14 and a 12 month high of $21.59.
Analyst Ratings Changes
SVCO has been the topic of several recent analyst reports. Rosenblatt Securities reissued a "buy" rating and set a $18.00 target price on shares of Silvaco Group in a report on Wednesday, January 15th. Craig Hallum cut their price objective on Silvaco Group from $17.00 to $15.00 and set a "buy" rating for the company in a report on Wednesday, January 15th. Needham & Company LLC reaffirmed a "buy" rating and set a $19.00 target price on shares of Silvaco Group in a report on Wednesday, November 13th. Finally, TD Cowen cut their price target on shares of Silvaco Group from $20.00 to $15.00 and set a "buy" rating for the company in a report on Wednesday, November 13th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $19.67.
Get Our Latest Research Report on SVCO
Insiders Place Their Bets
In related news, insider Eric Guichard sold 25,000 shares of the stock in a transaction dated 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 directly owns 57,902 shares of the company's stock, valued at approximately $416,315.38. This represents a 30.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
About Silvaco Group
(
Get Free Report)
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.
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