B. Riley Issues Pessimistic Forecast for GCT Semiconductor (NYSE:GCTS) Stock Price

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

GCT Semiconductor Price Performance

Shares of NYSE GCTS opened at $2.11 on Monday. The stock has a 50-day moving average price of $2.44 and a two-hundred day moving average price of $2.83. GCT Semiconductor has a 12 month low of $1.98 and a 12 month high of $56.00.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its stake in shares of GCT Semiconductor by 141.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 42,932 shares of the company’s stock valued at $144,000 after purchasing an additional 25,183 shares during the last quarter. FMR LLC bought a new position in shares of GCT Semiconductor in the 3rd quarter worth $134,000. Geode Capital Management LLC lifted its holdings 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 purchasing an additional 8,458 shares in the last quarter. State Street Corp grew its holdings in shares of GCT Semiconductor by 10.9% during the third quarter. State Street Corp now owns 150,095 shares of the company’s stock valued at $503,000 after buying an additional 14,786 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in GCT Semiconductor by 488.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 27,258 shares of the company’s stock worth $91,000 after acquiring an additional 22,624 shares during the last quarter. Institutional investors own 28.06% of the company’s stock.

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.