GCT Semiconductor (NYSE:GCTS) Announces Quarterly Earnings Results

GCT Semiconductor (NYSE:GCTS) announced its quarterly earnings data on Tuesday. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.04, Zacks reports. The company had revenue of $2.03 million for the quarter, compared to analyst estimates of $2.03 million.

GCT Semiconductor Price Performance

Shares of GCT Semiconductor stock traded up $0.05 during trading on Thursday, hitting $1.79. 126,944 shares of the company’s stock traded hands, compared to its average volume of 414,708. GCT Semiconductor has a twelve month low of $1.73 and a twelve month high of $56.00. The firm’s fifty day moving average price is $2.10 and its 200 day moving average price is $2.41.

Wall Street Analyst Weigh In

Separately, B. Riley lowered their price target on GCT Semiconductor from $8.00 to $5.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd.

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.