GCT Semiconductor (NYSE:GCTS) Trading Down 1.2% – Here’s Why

GCT Semiconductor Holding, Inc. (NYSE:GCTS)’s stock price traded down 1.2% on Tuesday . The company traded as low as $1.16 and last traded at $1.1950. 341,578 shares traded hands during trading, an increase of 65% from the average session volume of 207,134 shares. The stock had previously closed at $1.21.

Analysts Set New Price Targets

Several analysts have commented on GCTS shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of GCT Semiconductor in a research note on Wednesday, October 8th. HC Wainwright started coverage on GCT Semiconductor in a report on Thursday, December 11th. They issued a “buy” rating and a $3.00 target price on the stock. Finally, B. Riley dropped their price target on GCT Semiconductor from $4.50 to $4.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Two analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat, GCT Semiconductor presently has a consensus rating of “Hold” and an average price target of $3.50.

GCT Semiconductor Trading Down 1.2%

The firm’s 50-day moving average price is $1.34 and its 200-day moving average price is $1.40. The stock has a market capitalization of $68.23 million, a PE ratio of -1.55 and a beta of 1.23.

GCT Semiconductor (NYSE:GCTS) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.06). The business had revenue of $0.43 million during the quarter, compared to the consensus estimate of $1.20 million. On average, equities research analysts predict that GCT Semiconductor Holding, Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling at GCT Semiconductor

In related news, Director Hyunsoo Shin purchased 25,453 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were bought at an average price of $1.28 per share, for a total transaction of $32,579.84. Following the acquisition, the director owned 737,866 shares of the company’s stock, valued at approximately $944,468.48. This represents a 3.57% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders purchased 45,358 shares of company stock worth $58,058. Insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GCTS. Bridgeway Capital Management LLC purchased a new stake in shares of GCT Semiconductor in the third quarter valued at $76,000. Blair William & Co. IL purchased a new stake in GCT Semiconductor in the 3rd quarter worth about $47,000. Vanguard Group Inc. raised its position in GCT Semiconductor by 3.3% in the 3rd 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. Engineers Gate Manager LP bought a new stake in GCT Semiconductor in the second quarter worth about $37,000. Finally, Jane Street Group LLC purchased a new position in shares of GCT Semiconductor during the second quarter valued at approximately $246,000. Institutional investors own 28.06% of the company’s stock.

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.