Mitsubishi UFJ Asset Management Co. Ltd. Makes New Investment in GCT Semiconductor Holding, Inc. $GCTS

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of GCT Semiconductor Holding, Inc. (NYSE:GCTS) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 972,668 shares of the company’s stock, valued at approximately $91,956,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 1.07% of GCT Semiconductor as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. XTX Topco Ltd bought a new position in GCT Semiconductor during the fourth quarter worth $26,000. Engineers Gate Manager LP bought a new stake in GCT Semiconductor in the second quarter valued at $37,000. Blair William & Co. IL bought a new stake in GCT Semiconductor in the third quarter valued at $47,000. Bridgeway Capital Management LLC acquired a new position in shares of GCT Semiconductor during the third quarter valued at about $76,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of GCT Semiconductor by 57.5% during the first quarter. Goldman Sachs Group Inc. now owns 69,917 shares of the company’s stock valued at $115,000 after purchasing an additional 25,535 shares during the period. Institutional investors own 28.06% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on GCTS shares. Wall Street Zen downgraded GCT Semiconductor from a “hold” rating to a “sell” rating in a research note on Monday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GCT Semiconductor in a research note on Monday, August 3rd. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $3.50.

GCT Semiconductor Trading Down 6.9%

Shares of GCTS stock opened at $1.95 on Wednesday. The firm has a fifty day simple moving average of $2.37 and a two-hundred day simple moving average of $1.88. GCT Semiconductor Holding, Inc. has a 12 month low of $0.95 and a 12 month high of $3.93. The firm has a market capitalization of $178.88 million, a PE ratio of -2.43 and a beta of 1.81.

GCT Semiconductor (NYSE:GCTS) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.17). The business had revenue of $0.97 million for the quarter, compared to analysts’ expectations of $3.30 million. On average, equities analysts predict that GCT Semiconductor Holding, Inc. will post -0.69 earnings per share for the current fiscal year.

About GCT Semiconductor

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.