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

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

GCT Semiconductor Price Performance

GCT Semiconductor stock traded up $0.05 during midday trading on Thursday, hitting $1.79. 123,652 shares of the stock were exchanged, compared to its average volume of 414,698. The stock’s 50-day simple moving average is $2.10 and its 200 day simple moving average is $2.41. GCT Semiconductor has a fifty-two week low of $1.73 and a fifty-two week high of $56.00.

Wall Street Analyst Weigh In

Separately, B. Riley dropped their target price 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.