GCT Semiconductor (GCTS) Starts Commercial 5G Shipments, H.C. Wainwright Stays Bullish

GCT Semiconductor Holding, Inc. (NYSE:GCTS) is one of the 6 Best Semiconductor Penny Stocks to Buy Now. On January 13, H.C. Wainwright reiterated its Buy rating on GGCT Semiconductor Holding, Inc. (NYSE:GCTS) with a price target of $3 on the stock.

Previously, on January 6, GCT Semiconductor Holding, Inc. (NYSE:GCTS) reported the first commercial shipment of its 5G chipset to the company’s lead customers. This update comes after the chipset was successfully qualified and adopted. The launch of commercial shipments of 5G chipsets marks an important step in the company’s 5G revenue growth trajectory.

According to the report, the recent launch of GoGo’s 5G air-to-ground network supports demand for GCT Semiconductor Holding, Inc.’s (NYSE:GCTS) 5G technology. The development strengthens the company’s position for expanded 5G commercialization and increased market penetration in 2026 and beyond.

John Schlaefer, CEO of GCT Semiconductor Holding, Inc. (NYSE:GCTS), highlighted that customer feedback has been very positive and that the company is “seeing strong interest across multiple 5G applications.”

GCT Semiconductor Holding, Inc. (NYSE:GCTS) is a fabless designer that delivers advanced 5G and 4G LTE semiconductor solutions.

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Disclosure: None. This article is originally published at Insider Monkey.