GCT Semiconductor Shares Jump After 4G/5G Collaboration With Saudi Aramco
By Zaeem Shoaib
GCT Semiconductor Holding shares gained after the company signed a memorandum of understanding with Saudi Aramco for a collaboration to further develop the 4G/5G ecosystem in Saudi Arabia for both mission-critical and public safety networks.
Shares were up 53% to $8.69 in recent trading on Friday. The stock has seen a decline of about 14% in the past 12 months.
GCT said the collaboration aims to design and co-develop chipsets and modules tailored for LTE, 5G and the NTN spectrum to support localization of wireless end-user devices and IoT manufacturing in the region.
Write to Zaeem Shoaib at zaeem.shoaib@wsj.com
(END) Dow Jones Newswires
April 05, 2024 12:06 ET (16:06 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
5 Things We Learned From the Q1 Earnings Season
-
After Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
What’s Happening In the Markets This Week
-
Can the Fed Declare Victory on Inflation?
-
After Earnings, Is Coinbase Stock a Buy, a Sell, or Fairly Valued?
-
After Earnings, Is Albemarle Stock a Buy, a Sell, or Fairly Valued?
-
Is ServiceNow Stock a Buy After Earnings and Its Investor Day?
-
3 Stocks to Buy and 3 Stocks to Sell After Earnings
-
Today’s Market Volatility Could Provide Tomorrow’s Opportunities
-
40 of the Best Investment Picks
-
Tech Stock Dividends Are Changing the Face of Dividend Growth Investing
-
Roblox Earnings: Weakening Engagement Has Weighed On Growth
-
The Best Gaming Stocks to Buy
-
Energy Transfer Earnings: M&A Drives Guidance Increase In Solid Quarter
-
The Best Healthcare Stocks to Buy
-
Going Into Earnings, Is Home Depot Stock a Buy, a Sell, or Fairly Valued?