GCT Semiconductor (NYSE:GCTS) Posts Quarterly Earnings Results, Misses Estimates By $0.02 EPS

GCT Semiconductor (NYSE:GCTS) posted its quarterly earnings data on Tuesday. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02), FiscalAI reports. The firm had revenue of $1.92 million during the quarter, compared to analysts’ expectations of $1.77 million.

GCT Semiconductor Trading Up 0.2%

GCTS traded up $0.00 on Tuesday, hitting $1.60. 6,737,224 shares of the company’s stock traded hands, compared to its average volume of 3,791,679. The company’s 50 day simple moving average is $1.27 and its 200-day simple moving average is $1.27. The firm has a market cap of $116.17 million, a price-to-earnings ratio of -1.98 and a beta of 1.27. GCT Semiconductor has a one year low of $0.90 and a one year high of $2.47.

Institutional Trading of GCT Semiconductor

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Blair William & Co. IL purchased a new position in GCT Semiconductor during the 3rd quarter valued at approximately $47,000. Jane Street Group LLC purchased a new position in GCT Semiconductor during the 2nd quarter valued at approximately $246,000. Vanguard Group Inc. grew its holdings in GCT Semiconductor by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,583,800 shares of the company’s stock valued at $2,407,000 after buying an additional 50,799 shares in the last quarter. Geode Capital Management LLC grew its holdings in GCT Semiconductor by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 414,944 shares of the company’s stock valued at $498,000 after buying an additional 17,867 shares in the last quarter. Finally, State Street Corp grew its holdings in GCT Semiconductor by 8.9% during the 4th quarter. State Street Corp now owns 144,689 shares of the company’s stock valued at $174,000 after buying an additional 11,800 shares in the last quarter. Institutional investors own 28.06% of the company’s stock.

Analysts Set New Price Targets

GCTS has been the topic of several recent analyst reports. Weiss Ratings raised GCT Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 6th. HC Wainwright reissued a “buy” rating and set a $3.00 target price on shares of GCT Semiconductor in a research note on Monday, March 30th. Two analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $3.50.

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. It also develops and sells cellular IoT chipsets for low-speed mobile networks such as eMTC/NB-IOT/Sigfox, and other network protocols; and 5G solutions. Its products and solutions are used in smartphones, tablets, hotspots, CPEs, USB dongles, routers, and M2M applications.