GCT Semiconductor (NYSE:GCTS – Get Free Report) posted 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 the consensus estimate of $2.03 million.
GCT Semiconductor Stock Performance
NYSE GCTS traded up $0.01 during mid-day trading on Thursday, hitting $1.75. The company’s stock had a trading volume of 136,507 shares, compared to its average volume of 414,833. The company’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 Analysts Forecast Growth
Separately, B. Riley decreased their target price on GCT Semiconductor from $8.00 to $5.00 and set a “buy” rating for the company in a research 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.
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