GCT Semiconductor (NYSE:GCTS – Get Free Report) issued its quarterly earnings results on Tuesday. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.04, Zacks reports. The company had revenue of $2.03 million during the quarter, compared to analyst estimates of $2.03 million.
GCT Semiconductor Stock Performance
GCT Semiconductor stock traded up $0.01 during trading hours on Thursday, reaching $1.75. 136,507 shares of the company’s stock were exchanged, compared to its average volume of 414,833. The firm’s 50 day simple moving average is $2.10 and its 200 day simple moving average is $2.41. GCT Semiconductor has a twelve month low of $1.73 and a twelve month high of $56.00.
Wall Street Analyst Weigh In
Separately, B. Riley lowered 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.
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.
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