GCT Semiconductor (NYSE:GCTS) Cut to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded GCT Semiconductor from “hold” to “sell,” while MarketBeat reports an overall consensus rating of “Hold” and a $3.50 target price.
• GCT reported a quarterly loss of $0.15 per share, missing estimates by $0.02, although revenue of $1.92 million exceeded expectations; analysts project a full-year loss of $0.34 per share.
• Shares opened at $1.86, with a 52-week range of $0.95 to $3.93 and a market capitalization of about $169.6 million. Institutional investors own approximately 28.1% of the stock.

GCT Semiconductor (NYSE:GCTS - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday.

Separately, Weiss Ratings upgraded shares of GCT Semiconductor from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, GCT Semiconductor has an average rating of "Hold" and a consensus target price of $3.50.

GCT Semiconductor Stock Performance

Shares of GCTS stock opened at $1.86 on Friday. GCT Semiconductor has a fifty-two week low of $0.95 and a fifty-two week high of $3.93. The firm has a market capitalization of $169.64 million, a price-to-earnings ratio of -2.30 and a beta of 1.78. The stock's 50-day simple moving average is $2.60 and its 200-day simple moving average is $1.78.

GCT Semiconductor (NYSE:GCTS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The company had revenue of $1.92 million for the quarter, compared to analysts' expectations of $1.77 million. As a group, equities analysts forecast that GCT Semiconductor will post -0.34 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. XTX Topco Ltd acquired a new stake in shares of GCT Semiconductor during the fourth quarter worth about $26,000. Bridgeway Capital Management LLC increased its holdings in GCT Semiconductor by 50.0% in the 4th quarter. Bridgeway Capital Management LLC now owns 75,000 shares of the company's stock worth $90,000 after buying an additional 25,000 shares during the period. State Street Corp increased its holdings in GCT Semiconductor by 8.9% in the 4th quarter. State Street Corp now owns 144,689 shares of the company's stock worth $174,000 after buying an additional 11,800 shares during the period. Geode Capital Management LLC raised its position in GCT Semiconductor by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 414,944 shares of the company's stock worth $498,000 after buying an additional 17,867 shares during the last quarter. Finally, Blair William & Co. IL purchased a new position in GCT Semiconductor during the 3rd quarter worth approximately $47,000. 28.06% of the stock is currently owned by hedge funds and other institutional investors.

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.

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