B. Riley Has Lowered Expectations for GCT Semiconductor (NYSE:GCTS) Stock Price

GCT Semiconductor (NYSE:GCTS - Get Free Report) had its price target lowered by research analysts at B. Riley from $8.00 to $5.00 in a report released on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. B. Riley's price objective points to a potential upside of 124.22% from the company's previous close. B. Riley also issued estimates for GCT Semiconductor's FY2026 earnings at ($0.02) EPS, FY2027 earnings at $0.13 EPS and FY2028 earnings at $0.30 EPS.

GCT Semiconductor Price Performance

Shares of NYSE GCTS traded up $0.08 during mid-day trading on Monday, hitting $2.23. 130,044 shares of the company were exchanged, compared to its average volume of 117,806. The stock has a 50 day simple moving average of $2.44 and a 200-day simple moving average of $2.80. GCT Semiconductor has a 1-year low of $1.98 and a 1-year high of $56.00.

Institutional Investors Weigh In On GCT Semiconductor

Several hedge funds have recently modified their holdings of GCTS. Rhumbline Advisers lifted its holdings in shares of GCT Semiconductor by 798.1% during the fourth quarter. Rhumbline Advisers now owns 51,327 shares of the company's stock worth $120,000 after purchasing an additional 45,612 shares during the period. FMR LLC acquired a new stake in GCT Semiconductor in the third quarter valued at $134,000. Charles Schwab Investment Management Inc. lifted its holdings in GCT Semiconductor by 141.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 42,932 shares of the company's stock valued at $144,000 after acquiring an additional 25,183 shares during the period. JPMorgan Chase & Co. lifted its holdings in GCT Semiconductor by 488.2% in the third quarter. JPMorgan Chase & Co. now owns 27,258 shares of the company's stock valued at $91,000 after acquiring an additional 22,624 shares during the period. Finally, State Street Corp lifted its holdings in GCT Semiconductor by 10.9% in the third quarter. State Street Corp now owns 150,095 shares of the company's stock valued at $503,000 after acquiring an additional 14,786 shares during the period. 28.06% of the stock is owned by institutional investors and hedge funds.

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.