GCT Semiconductor (NYSE:GCTS) Posts Earnings Results, Beats Expectations By $0.04 EPS

GCT Semiconductor (NYSE:GCTS) issued its earnings results on Tuesday. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 Up 0.3 %

Shares of GCTS stock traded up $0.01 during trading hours on Thursday, reaching $1.75. The stock had a trading volume of 134,374 shares, compared to its average volume of 414,822. The firm has a 50-day simple moving average of $2.10 and a 200-day simple moving average of $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 reduced their price target on shares of GCT Semiconductor from $8.00 to $5.00 and set a “buy” rating on the stock 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.