GCT Semiconductor (NYSE:GCTS) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of GCT Semiconductor (NYSE:GCTS) from a hold rating to a sell rating in a research note published on Saturday.

Separately, Weiss Ratings upgraded GCT Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, GCT Semiconductor presently has an average rating of “Hold” and a consensus price target of $3.50.

GCT Semiconductor Stock Performance

Shares of GCT Semiconductor stock opened at $2.03 on Friday. The firm has a 50-day simple moving average of $2.58 and a two-hundred day simple moving average of $1.79. GCT Semiconductor has a fifty-two week low of $0.95 and a fifty-two week high of $3.93. The company has a market cap of $184.83 million, a P/E ratio of -2.51 and a beta of 1.81.

GCT Semiconductor (NYSE:GCTS) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The company had revenue of $1.92 million during the quarter, compared to analysts’ expectations of $1.77 million. Equities research analysts forecast that GCT Semiconductor will post -0.34 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Jane Street Group LLC bought a new stake in GCT Semiconductor in the second quarter valued at about $246,000. XTX Topco Ltd bought a new position in GCT Semiconductor during the second quarter worth $95,000. Vanguard Group Inc. boosted its holdings in GCT Semiconductor by 3.3% in the third quarter. Vanguard Group Inc. now owns 1,583,800 shares of the company’s stock worth $2,407,000 after purchasing an additional 50,799 shares during the period. Bridgeway Capital Management LLC acquired a new position in shares of GCT Semiconductor in the 3rd quarter valued at about $76,000. Finally, Blair William & Co. IL bought a new position in shares of GCT Semiconductor during the third quarter valued at approximately $47,000. 28.06% of the stock is owned by hedge funds and other institutional investors.

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.