GCT Semiconductor (NYSE:GCTS) Price Target Cut to $4.00 by Analysts at B. Riley

GCT Semiconductor (NYSE:GCTS) had its price objective decreased by B. Riley from $4.50 to $4.00 in a research report released on Thursday morning,Benzinga reports. B. Riley currently has a buy rating on the stock.

Several other equities research analysts also recently commented on GCTS. Weiss Ratings reiterated a “sell (e+)” rating on shares of GCT Semiconductor in a research report on Wednesday, October 8th. Zacks Research cut shares of GCT Semiconductor from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 14th. One research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $4.00.

GCT Semiconductor Stock Performance

Shares of GCTS traded up $0.07 during mid-day trading on Thursday, hitting $1.34. The company’s stock had a trading volume of 144,065 shares, compared to its average volume of 386,607. The stock’s 50-day moving average is $1.48 and its two-hundred day moving average is $1.39. The firm has a market capitalization of $74.57 million, a PE ratio of -1.73 and a beta of 1.21. GCT Semiconductor has a one year low of $0.90 and a one year high of $2.81.

GCT Semiconductor (NYSE:GCTS) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.06). The firm had revenue of $0.43 million during the quarter, compared to analyst estimates of $1.20 million. Analysts expect that GCT Semiconductor will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling at GCT Semiconductor

In other GCT Semiconductor news, Director Hyunsoo Shin bought 44,067 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was acquired at an average price of $1.51 per share, for a total transaction of $66,541.17. Following the completion of the purchase, the director owned 694,321 shares of the company’s stock, valued at approximately $1,048,424.71. This represents a 6.78% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Jane Street Group LLC bought a new stake in shares of GCT Semiconductor during the second quarter worth about $246,000. XTX Topco Ltd bought a new stake in GCT Semiconductor during the second quarter worth $95,000. Vanguard Group Inc. boosted its stake in GCT Semiconductor by 3.3% in the third quarter. Vanguard Group Inc. now owns 1,583,800 shares of the company’s stock valued at $2,407,000 after acquiring an additional 50,799 shares during the last quarter. Bridgeway Capital Management LLC purchased a new stake in GCT Semiconductor in the 3rd quarter worth about $76,000. Finally, Blair William & Co. IL purchased a new position in shares of GCT Semiconductor in the third quarter valued at $47,000. Institutional investors and hedge funds 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.