Hyunsoo Shin Purchases 44,067 Shares of GCT Semiconductor (NYSE:GCTS) Stock

Key Points

• GCT Semiconductor Director Hyunsoo Shin purchased 44,067 shares of the company's stock at an average price of $1.51, totaling $66,541.17, increasing his holdings by 6.78%.
• The company's latest earnings report revealed a loss of ($0.26) EPS, significantly missing expectations and generating only $1.18 million in revenue.
• Institutional investors have been actively acquiring GCT Semiconductor shares, with hedge funds increasing their stakes, leading to 28.06% of shares currently owned by institutional investors.

GCT Semiconductor Holding, Inc. (NYSE:GCTS - Get Free Report) Director Hyunsoo Shin bought 44,067 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The stock was purchased at an average cost of $1.51 per share, with a total value of $66,541.17. Following the completion of the purchase, the director directly owned 694,321 shares of the company's stock, valued at $1,048,424.71. This represents a 6.78% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

GCT Semiconductor Price Performance

GCT Semiconductor stock traded down $0.07 during mid-day trading on Friday, hitting $1.64. 452,443 shares of the company's stock traded hands, compared to its average volume of 292,507. The firm has a 50 day simple moving average of $1.41 and a two-hundred day simple moving average of $1.44. GCT Semiconductor Holding, Inc. has a fifty-two week low of $0.90 and a fifty-two week high of $3.45. The stock has a market cap of $91.33 million, a price-to-earnings ratio of -2.40 and a beta of 1.19.

GCT Semiconductor (NYSE:GCTS - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported ($0.26) earnings per share for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.12). The firm had revenue of $1.18 million during the quarter, compared to the consensus estimate of $2.26 million. On average, research analysts anticipate that GCT Semiconductor Holding, Inc. will post -0.3 earnings per share for the current fiscal year.

Institutional Trading of GCT Semiconductor

Large investors have recently modified their holdings of the business. Squarepoint Ops LLC bought a new stake in shares of GCT Semiconductor during the 4th quarter valued at about $45,000. Engineers Gate Manager LP purchased a new stake in GCT Semiconductor in the second quarter worth $37,000. XTX Topco Ltd purchased a new stake in shares of GCT Semiconductor in the second quarter worth $95,000. Goldman Sachs Group Inc. grew its stake in shares of GCT Semiconductor by 57.5% in the first quarter. Goldman Sachs Group Inc. now owns 69,917 shares of the company's stock worth $115,000 after acquiring an additional 25,535 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in shares of GCT Semiconductor during the second quarter valued at $246,000. Institutional investors own 28.06% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Zacks Research cut GCT Semiconductor from a "hold" rating to a "strong sell" rating in a report on Thursday, August 14th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $5.00.

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.