GCT Semiconductor Holding, Inc. $GCTS Shares Bought by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. raised its holdings in GCT Semiconductor Holding, Inc. (NYSE:GCTS) by 57.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 69,917 shares of the company’s stock after acquiring an additional 25,535 shares during the quarter. Goldman Sachs Group Inc. owned 0.14% of GCT Semiconductor worth $115,000 as of its most recent filing with the SEC.

Separately, Squarepoint Ops LLC acquired a new stake in GCT Semiconductor in the fourth quarter valued at $45,000. 28.06% of the stock is owned by institutional investors and hedge funds.

GCT Semiconductor Price Performance

NYSE GCTS opened at $1.52 on Tuesday. The firm has a market capitalization of $84.63 million, a P/E ratio of -2.23 and a beta of 1.20. GCT Semiconductor Holding, Inc. has a 1-year low of $0.90 and a 1-year high of $3.45. The business’s 50-day simple moving average is $1.42 and its 200-day simple moving average is $1.42.

GCT Semiconductor (NYSE:GCTS) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.12). The firm had revenue of $1.18 million during the quarter, compared to analyst estimates of $2.26 million. On average, equities research analysts expect that GCT Semiconductor Holding, Inc. will post -0.3 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Zacks Research downgraded GCT Semiconductor from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 14th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, GCT Semiconductor currently has an average rating of “Hold” and a consensus target price of $5.00.

Insider Buying and Selling at GCT Semiconductor

In related news, Director Hyunsoo Shin acquired 44,067 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was purchased at an average cost of $1.51 per share, for a total transaction of $66,541.17. Following the purchase, the director directly owned 694,321 shares in the company, valued at $1,048,424.71. This represents a 6.78% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 5.40% 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.