GCT Semiconductor (NYSE:GCTS) Trading Up 0.4% - Should You Buy?

GCT Semiconductor Holding, Inc. (NYSE:GCTS - Get Free Report)'s stock price shot up 0.4% on Thursday . The company traded as high as $1.49 and last traded at $1.45. 411,135 shares changed hands during mid-day trading, an increase of 24% from the average session volume of 330,483 shares. The stock had previously closed at $1.44.

Analysts Set New Price Targets

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

GCT Semiconductor Price Performance

The business's 50-day moving average price is $1.33 and its two-hundred day moving average price is $1.77. The firm has a market cap of $70.09 million, a price-to-earnings ratio of -3.29 and a beta of 1.22.

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 for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.05). The firm had revenue of $0.50 million for the quarter, compared to analyst estimates of $1.87 million. As a group, sell-side analysts forecast that GCT Semiconductor Holding, Inc. will post -0.3 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Hyunsoo Shin purchased 86,000 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were bought at an average price of $1.18 per share, with a total value of $101,480.00. Following the completion of the purchase, the director directly owned 170,248 shares in the company, valued at approximately $200,892.64. This trade represents a 102.08% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have purchased a total of 248,000 shares of company stock worth $281,860 over the last ninety days. Corporate insiders own 0.21% of the company's stock.

Hedge Funds Weigh In On GCT Semiconductor

Large investors have recently bought and sold shares of the stock. Squarepoint Ops LLC purchased a new position in GCT Semiconductor during the fourth quarter worth approximately $45,000. Renaissance Technologies LLC purchased a new position in GCT Semiconductor during the fourth quarter worth approximately $58,000. Goldman Sachs Group Inc. raised 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 purchasing an additional 25,535 shares during the period. Finally, Rhumbline Advisers raised its stake in GCT Semiconductor by 798.1% during the fourth quarter. Rhumbline Advisers now owns 51,327 shares of the company's stock worth $120,000 after purchasing an additional 45,612 shares during the period. Hedge funds and other institutional investors own 28.06% of the company's stock.

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.