GCT Semiconductor (NYSE:GCTS) Issues Quarterly Earnings Results

GCT Semiconductor (NYSE:GCTS - Get Free Report) posted its earnings results on Tuesday. The company reported ($0.11) earnings per share for the quarter, topping analysts' consensus estimates of ($0.15) by $0.04, Zacks reports. The firm had revenue of $2.03 million for the quarter, compared to the consensus estimate of $2.03 million.

GCT Semiconductor Stock Performance

GCTS traded down $0.12 on Monday, reaching $1.67. The company had a trading volume of 216,652 shares, compared to its average volume of 399,696. GCT Semiconductor has a 52-week low of $1.55 and a 52-week high of $30.52. The company has a market cap of $79.48 million, a price-to-earnings ratio of -6.33 and a beta of 1.16. The business has a 50 day simple moving average of $2.07 and a 200 day simple moving average of $2.40.

Analysts Set New Price Targets

Separately, B. Riley reduced 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.