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

GCT Semiconductor (NYSE:GCTS) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Sunday.

Several other analysts have also commented on GCTS. Weiss Ratings upgraded shares of GCT Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 6th. HC Wainwright reiterated a “buy” rating and issued a $3.00 price target on shares of GCT Semiconductor in a research report on Monday, March 30th. Two analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $3.50.

GCT Semiconductor Trading Down 9.0%

Shares of GCTS opened at $3.40 on Friday. The firm’s 50-day moving average is $1.72 and its two-hundred day moving average is $1.40. GCT Semiconductor has a twelve month low of $0.90 and a twelve month high of $3.93. The firm has a market capitalization of $282.06 million, a P/E ratio of -4.19 and a beta of 1.27.

GCT Semiconductor (NYSE:GCTS) last issued its 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 business had revenue of $1.92 million for the quarter, compared to the consensus estimate of $1.77 million. Analysts predict that GCT Semiconductor will post -0.41 EPS for the current year.

Hedge Funds Weigh In On GCT Semiconductor

Several institutional investors and hedge funds have recently modified their holdings of the company. XTX Topco Ltd purchased a new position in shares of GCT Semiconductor during the fourth quarter valued at approximately $26,000. Bridgeway Capital Management LLC lifted its stake in shares of GCT Semiconductor by 50.0% during the fourth quarter. Bridgeway Capital Management LLC now owns 75,000 shares of the company’s stock valued at $90,000 after buying an additional 25,000 shares during the period. State Street Corp lifted its stake in shares of GCT Semiconductor by 8.9% during the fourth 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 during the period. Geode Capital Management LLC raised its stake in GCT Semiconductor by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 414,944 shares of the company’s stock worth $498,000 after purchasing an additional 17,867 shares during the period. Finally, Blair William & Co. IL purchased a new position in GCT Semiconductor during the third quarter worth approximately $47,000. Hedge funds and other institutional investors 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. 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.