GCT Semiconductor (NYSE:GCTS) Shares Down 1.6% - Time to Sell?

GCT Semiconductor Holding, Inc. (NYSE:GCTS - Get Free Report) shares traded down 1.6% during trading on Friday . The stock traded as low as $1.50 and last traded at $1.54. 81,688 shares traded hands during trading, a decline of 76% from the average session volume of 336,987 shares. The stock had previously closed at $1.56.

Wall Street Analyst Weigh In

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

GCT Semiconductor Stock Performance

The firm's fifty day simple moving average is $1.32 and its 200 day simple moving average is $1.68. The firm has a market cap of $74.40 million, a P/E ratio of -3.49 and a beta of 1.22.

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

Insider Activity

In other GCT Semiconductor news, Director Hyunsoo Shin bought 85,000 shares of the firm's stock in a transaction dated 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 transaction, the director owned 492,248 shares of the company's stock, valued at $580,852.64. This represents a 20.87% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have bought 248,000 shares of company stock worth $281,860. 0.21% of the stock is currently owned by corporate insiders.

Institutional Trading of GCT Semiconductor

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GCTS. Squarepoint Ops LLC purchased a new stake in GCT Semiconductor in the 4th quarter worth about $45,000. Renaissance Technologies LLC purchased a new stake in GCT Semiconductor in the 4th quarter worth about $58,000. Finally, Goldman Sachs Group Inc. raised its position in GCT Semiconductor by 57.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 69,917 shares of the company's stock worth $115,000 after purchasing an additional 25,535 shares during the period. 28.06% of the stock is owned by hedge funds and other institutional investors.

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.

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