GCT Semiconductor (NYSE:GCTS) Posts Earnings Results

GCT Semiconductor (NYSE:GCTS) issued its earnings results on Tuesday. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.04, Zacks reports. The firm had revenue of $2.03 million during the quarter, compared to analyst estimates of $2.03 million.

GCT Semiconductor Trading Up 2.6 %

GCTS stock traded up $0.05 during midday trading on Thursday, reaching $1.79. 126,944 shares of the company’s stock traded hands, compared to its average volume of 414,708. The company has a 50-day simple moving average of $2.10 and a two-hundred day simple moving average of $2.41. GCT Semiconductor has a 1-year low of $1.73 and a 1-year high of $56.00.

Analyst Upgrades and Downgrades

Separately, B. Riley cut their price target on shares of GCT Semiconductor from $8.00 to $5.00 and set a “buy” rating for the company in a report on Monday, February 3rd.

About GCT Semiconductor

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.