GCT Semiconductor’s (GCTS) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of GCT Semiconductor (NYSE:GCTS) in a research report report published on Monday,Benzinga reports. They currently have a $3.00 price target on the stock.

GCT Semiconductor Price Performance

GCT Semiconductor stock opened at $1.08 on Monday. The firm has a 50 day simple moving average of $1.18 and a 200-day simple moving average of $1.31. The stock has a market cap of $77.91 million, a price-to-earnings ratio of -1.33 and a beta of 1.23. GCT Semiconductor has a 1-year low of $0.90 and a 1-year high of $2.47.

GCT Semiconductor (NYSE:GCTS) last released its quarterly earnings results on Wednesday, March 25th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.07. The firm had revenue of $0.76 million for the quarter, compared to analysts’ expectations of $0.96 million. Equities analysts expect that GCT Semiconductor will post -0.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GCT Semiconductor

Several large investors have recently modified their holdings of GCTS. XTX Topco Ltd purchased a new position in shares of GCT Semiconductor during the 4th quarter worth $26,000. Engineers Gate Manager LP purchased a new stake in GCT Semiconductor in the 2nd quarter valued at about $37,000. Blair William & Co. IL purchased a new stake in GCT Semiconductor in the 3rd quarter valued at about $47,000. Bridgeway Capital Management LLC acquired a new position in GCT Semiconductor in the third quarter valued at about $76,000. Finally, Goldman Sachs Group Inc. lifted its position in GCT Semiconductor by 57.5% in the first quarter. Goldman Sachs Group Inc. now owns 69,917 shares of the company’s stock valued at $115,000 after buying an additional 25,535 shares during the last quarter. Institutional investors and hedge funds 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.