Shares of GCT Semiconductor (NYSE:GCTS) fell 0.7%

Shares of GCT Semiconductor Holding, Inc. (NYSE:GCTS – Get Free Report ) traded down 0.7% during trading on Friday. The company traded as high as $2.71 and last traded at $2.76. About 186,441 shares traded hands during mid-day trading, down 64% from the average daily volume of 511,804 shares. Shares previously closed at $2.78.

Analysts set new price targets

Separately, B. Riley initiated coverage on GCT Semiconductor in a research note on Wednesday, August 28th. They issued a “buy” rating and a $8.00 price objective on the stock.

Read our latest research report on GCTS

GCT Semiconductor stock performance

The firm has a 50-day simple moving average of $3.57.

GCT Semiconductor (NYSE:GCTS – Get Free Report ) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.02) EPS for the quarter. The business had revenue of $1.47 million during the quarter. As a group, analysts anticipate that GCT Semiconductor Holding, Inc. will record -0.31 EPS for the current fiscal year.

Institutional investors are weighing on GCT Semiconductor

An institutional investor recently bought a new position in shares of GCT Semiconductor. Rhumbline Advisers acquired a new stake in shares of GCT Semiconductor Holding, Inc. (NYSE:GCTS – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,123 shares of the company’s stock, valued at approximately $37,000. 28.06% of shares are owned by institutional investors and hedge funds.

About GCT Semiconductor

(Get a free report)

GCT Semiconductor Holding, Inc, operates as a wireless 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.

See Also

Get news and reviews for GCT Semiconductor Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for GCT Semiconductor and related companies with MarketBeat.com ‘s FREE daily email newsletter.