GCT Semiconductor Holding Inc. (NYSE:GCTS) shares fell 7.94% to $1.16 in after-hours trading on Thursday following the announcement of a licensing agreement with a major satellite communications provider. Over the past 12 months, GCTS stock has seen a decline of 44.74%. Currently, the stock is trading at about 22.93% of its 52-week range, placing it closer to its low than its high. In January, HC Wainwright & Co. reiterated its Buy rating on GCT Semiconductor, setting a $3 price target, which represents a 158.62% upside potential from after-hours prices. Benzinga’s Edge Stock Rankings indicate that GCTS has a negative price trend across all time frames.