GCT Semiconductor (NYSE:GCTS) Upgraded to “Hold” at Wall Street Zen

GCT Semiconductor (NYSE:GCTS) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

GCTS has been the topic of several other research reports. 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 restated a “buy” rating and set 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 assigned a Sell rating to the company. According to data from MarketBeat.com, GCT Semiconductor has an average rating of “Hold” and an average price target of $3.50.

GCT Semiconductor Stock Performance

GCT Semiconductor stock opened at $3.19 on Friday. The company’s fifty day moving average price is $2.21 and its 200 day moving average price is $1.56. GCT Semiconductor has a 1 year low of $0.95 and a 1 year high of $3.93. The stock has a market capitalization of $265.44 million, a P/E ratio of -3.94 and a beta of 1.75.

GCT Semiconductor (NYSE:GCTS) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The company had revenue of $1.92 million for the quarter, compared to the consensus estimate of $1.77 million. Sell-side analysts predict that GCT Semiconductor will post -0.41 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new position in GCT Semiconductor in the 4th quarter valued at $26,000. Bridgeway Capital Management LLC grew its holdings 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 worth $90,000 after buying an additional 25,000 shares in the last quarter. State Street Corp grew its holdings 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 worth $174,000 after buying an additional 11,800 shares in the last quarter. Geode Capital Management LLC raised its position in shares of GCT Semiconductor by 4.5% in the fourth 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 during the last quarter. Finally, Blair William & Co. IL acquired a new stake in shares of GCT Semiconductor in the third quarter valued at about $47,000. 28.06% of the stock is owned by institutional investors and hedge funds.

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.