GCT Semiconductor Holding, Inc. (NYSE:GCTS) Director Buys $80,080.00 in Stock

GCT Semiconductor Holding, Inc. (NYSE:GCTS - Get Free Report) Director Hyunsoo Shin purchased 77,000 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The shares were acquired at an average price of $1.04 per share, for a total transaction of $80,080.00. Following the completion of the purchase, the director now directly owns 247,248 shares in the company, valued at $257,137.92. This represents a 45.23% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Hyunsoo Shin also recently made the following trade(s):

• On Tuesday, May 20th, Hyunsoo Shin purchased 86,000 shares of GCT Semiconductor stock. The stock was bought at an average cost of $1.18 per share, for a total transaction of $101,480.00.

GCT Semiconductor Price Performance

GCT Semiconductor stock traded down $0.02 during trading hours on Friday, reaching $1.04. The stock had a trading volume of 312,359 shares, compared to its average volume of 276,079. The stock has a market cap of $50.41 million, a PE ratio of -2.36 and a beta of 1.24. GCT Semiconductor Holding, Inc. has a 52 week low of $1.01 and a 52 week high of $5.65. The company has a fifty day simple moving average of $1.40 and a 200-day simple moving average of $1.97.

GCT Semiconductor (NYSE:GCTS - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.05). The company had revenue of $0.50 million for the quarter, compared to the consensus estimate of $1.87 million. Research analysts predict that GCT Semiconductor Holding, Inc. will post -0.3 earnings per share for the current fiscal year.

Institutional Trading of GCT Semiconductor

A number of institutional investors and hedge funds have recently bought and sold shares of GCTS. Rhumbline Advisers grew its stake in shares of GCT Semiconductor by 798.1% in the fourth quarter. Rhumbline Advisers now owns 51,327 shares of the company's stock worth $120,000 after acquiring an additional 45,612 shares during the period. JPMorgan Chase & Co. lifted its holdings in GCT Semiconductor by 488.2% during the third quarter. JPMorgan Chase & Co. now owns 27,258 shares of the company's stock valued at $91,000 after purchasing an additional 22,624 shares in the last quarter. Renaissance Technologies LLC purchased a new position in GCT Semiconductor during the fourth quarter valued at approximately $58,000. Goldman Sachs Group Inc. lifted its holdings in GCT Semiconductor by 57.5% during the first quarter. Goldman Sachs Group Inc. now owns 69,917 shares of the company's stock valued at $115,000 after purchasing an additional 25,535 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of GCT Semiconductor during the fourth quarter worth $45,000. 28.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GCTS has been the topic of a number of research analyst reports. B. Riley decreased their price target on shares of GCT Semiconductor from $8.00 to $5.00 and set a "buy" rating on the stock in a report on Monday, February 3rd. Wall Street Zen lowered shares of GCT Semiconductor from a "hold" rating to a "strong sell" rating in a report on Thursday, May 22nd.

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.