B. Riley Cuts GCT Semiconductor (NYSE:GCTS) Price Target to $5.00

GCT Semiconductor (NYSE:GCTS) had its price target dropped by equities research analysts at B. Riley from $8.00 to $5.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. B. Riley’s price objective would suggest a potential upside of 137.53% from the stock’s previous close. B. Riley also issued estimates for GCT Semiconductor’s FY2027 earnings at $0.13 EPS and FY2028 earnings at $0.30 EPS.

GCT Semiconductor Stock Up 4.2 %

Shares of GCT Semiconductor stock opened at $2.11 on Monday. The stock has a fifty day moving average price of $2.44 and a 200-day moving average price of $2.83. GCT Semiconductor has a 1 year low of $1.98 and a 1 year high of $56.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its position in GCT Semiconductor by 141.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 42,932 shares of the company’s stock valued at $144,000 after buying an additional 25,183 shares during the period. FMR LLC purchased a new position in GCT Semiconductor during the 3rd quarter valued at about $134,000. State Street Corp raised its position in GCT Semiconductor by 10.9% during the 3rd quarter. State Street Corp now owns 150,095 shares of the company’s stock valued at $503,000 after purchasing an additional 14,786 shares during the last quarter. Barclays PLC lifted its holdings in GCT Semiconductor by 321.3% in the 3rd quarter. Barclays PLC now owns 10,799 shares of the company’s stock worth $36,000 after buying an additional 8,236 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of GCT Semiconductor by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 423,584 shares of the company’s stock worth $1,419,000 after buying an additional 8,458 shares during the last quarter. 28.06% of the stock is owned by institutional investors.

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.