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

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

Separately, B. Riley dropped their target price on shares of GCT Semiconductor from $8.00 to $5.00 and set a "buy" rating for the company in a research report on Monday, February 3rd.

GCT Semiconductor Price Performance

GCT Semiconductor stock traded up $0.02 during mid-day trading on Thursday, reaching $1.06. 498,195 shares of the company were exchanged, compared to its average volume of 246,881. The company has a fifty day simple moving average of $1.47 and a 200-day simple moving average of $2.01. The firm has a market cap of $50.90 million, a PE ratio of -2.40 and a beta of 1.24. GCT Semiconductor has a 12 month low of $1.02 and a 12 month high of $5.80.

GCT Semiconductor (NYSE:GCTS - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.05). The company had revenue of $0.50 million during the quarter, compared to the consensus estimate of $1.87 million. Sell-side analysts anticipate that GCT Semiconductor will post -0.3 earnings per share for the current year.

Insider Transactions at GCT Semiconductor

In related news, Director Hyunsoo Shin purchased 86,000 shares of GCT Semiconductor stock in a transaction dated Tuesday, May 20th. The shares were bought at an average cost of $1.18 per share, for a total transaction of $101,480.00. Following the purchase, the director now owns 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 Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is owned by insiders.

Hedge Funds Weigh In On GCT Semiconductor

Institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC boosted its position in GCT Semiconductor by 321.3% in the third quarter. Barclays PLC now owns 10,799 shares of the company's stock valued at $36,000 after buying an additional 8,236 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of GCT Semiconductor during the 4th quarter valued at $45,000. JPMorgan Chase & Co. grew its position in GCT Semiconductor by 488.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 27,258 shares of the company's stock worth $91,000 after acquiring an additional 22,624 shares during the last quarter. Renaissance Technologies LLC acquired a new position 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 first quarter. Goldman Sachs Group Inc. now owns 69,917 shares of the company's stock valued at $115,000 after purchasing an additional 25,535 shares during the last quarter. 28.06% of the stock is currently owned by institutional investors and hedge funds.

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.