Insider Buying: GCT Semiconductor Holding, Inc. (NYSE:GCTS) Director Acquires 85,000 Shares of Stock

GCT Semiconductor Holding, Inc. (NYSE:GCTS - Get Free Report) Director Hyunsoo Shin purchased 85,000 shares of the company's stock in a transaction on Tuesday, June 10th. The shares were purchased at an average cost of $1.18 per share, for a total transaction of $100,300.00. Following the completion of the transaction, the director now directly owns 492,248 shares of the company's stock, valued at approximately $580,852.64. This represents a 20.87% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, May 23rd, Hyunsoo Shin purchased 77,000 shares of GCT Semiconductor stock. The stock was acquired at an average price of $1.04 per share, for a total transaction of $80,080.00.
• On Tuesday, May 20th, Hyunsoo Shin purchased 86,000 shares of GCT Semiconductor stock. The stock was bought at an average price of $1.18 per share, for a total transaction of $101,480.00.

GCT Semiconductor Stock Up 15.1%

Shares of GCTS traded up $0.20 during midday trading on Friday, reaching $1.49. 192,739 shares of the stock were exchanged, compared to its average volume of 315,009. The stock's 50 day simple moving average is $1.30 and its 200 day simple moving average is $1.89. The company has a market cap of $71.98 million, a P/E ratio of -3.38 and a beta of 1.04. GCT Semiconductor Holding, Inc. has a twelve month low of $0.90 and a twelve month high of $5.65.

GCT Semiconductor (NYSE:GCTS - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $0.50 million for the quarter, compared to analysts' expectations of $1.87 million. As a group, analysts predict that GCT Semiconductor Holding, Inc. will post -0.3 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Wall Street Zen cut GCT Semiconductor from a "hold" rating to a "strong sell" rating in a report on Thursday, May 22nd.

Hedge Funds Weigh In On GCT Semiconductor

A number of hedge funds have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC acquired a new stake in shares of GCT Semiconductor during the 4th quarter worth $45,000. Renaissance Technologies LLC bought a new stake in GCT Semiconductor during the fourth quarter worth about $58,000. Goldman Sachs Group Inc. grew its stake in GCT Semiconductor by 57.5% during the first quarter. Goldman Sachs Group Inc. now owns 69,917 shares of the company's stock worth $115,000 after buying an additional 25,535 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in GCT Semiconductor by 798.1% in the 4th quarter. Rhumbline Advisers now owns 51,327 shares of the company's stock valued at $120,000 after buying an additional 45,612 shares during the period. 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.