B. Riley Begins Coverage on GCT Semiconductor (NYSE:GCTS)

B. Riley began coverage on shares of GCT Semiconductor (NYSE:GCTS) in a research report released on Wednesday morning, Marketbeat.com reports. The firm issued a buy rating and a $8.00 price objective on the stock. B. Riley also issued estimates for GCT Semiconductor’s Q3 2024 earnings at ($0.16) EPS, Q4 2024 earnings at ($0.15) EPS, FY2024 earnings at ($0.31) EPS, Q1 2025 earnings at ($0.15) EPS, Q2 2025 earnings at ($0.13) EPS, Q3 2025 earnings at ($0.07) EPS, Q4 2025 earnings at ($0.03) EPS, FY2025 earnings at ($0.38) EPS, Q1 2026 earnings at ($0.03) EPS, Q2 2026 earnings at ($0.02) EPS and FY2026 earnings at ($0.06) EPS.

GCT Semiconductor Stock Down 0.7 %

Shares of GCT Semiconductor stock opened at $2.80 on Wednesday. The firm has a fifty day moving average of $4.38. GCT Semiconductor has a 12-month low of $2.47 and a 12-month high of $56.00.

Hedge Funds Weigh In On GCT Semiconductor

An institutional investor recently bought a new position in GCT Semiconductor stock. Rhumbline Advisers purchased a new position in shares of GCT Semiconductor Holding, Inc. (NYSE:GCTS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 7,123 shares of the company’s stock, valued at approximately $37,000. 28.06% of the stock is currently owned by hedge funds and other institutional investors.

GCT Semiconductor Company Profile

GCT Semiconductor Holding, Inc, operates as a fabless semiconductor company, designs, develops, and markets integrated circuits for the wireless semiconductor industry. The company provides RF and modem chipsets based on 4G LTE technology, including 4G LTE, 4.5G LTE Advanced, and 4.75G LTE Advanced-Pro.