GCT Semiconductor (NYSE:GCTS) Shares Up 0.4% - What's Next?

Shares of GCT Semiconductor Holding, Inc. (NYSE:GCTS - Get Free Report) rose 0.4% on Thursday . The stock traded as high as $1.49 and last traded at $1.45. Approximately 411,135 shares were traded during mid-day trading, an increase of 24% from the average daily volume of 330,483 shares. The stock had previously closed at $1.44.

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 research note on Thursday, May 22nd.

GCT Semiconductor Trading Up 0.4%

The stock has a market capitalization of $70.09 million, a P/E ratio of -3.29 and a beta of 1.22. The stock's 50 day simple moving average is $1.33 and its 200 day simple moving average is $1.77.

GCT Semiconductor (NYSE:GCTS - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.05). The business had revenue of $0.50 million for the quarter, compared to analysts' expectations of $1.87 million. On average, sell-side analysts expect that GCT Semiconductor Holding, Inc. will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Hyunsoo Shin acquired 86,000 shares of GCT Semiconductor stock in a transaction on Tuesday, May 20th. The shares were purchased at an average cost of $1.18 per share, for a total transaction of $101,480.00. Following the purchase, the director directly owned 170,248 shares of the company's stock, valued at $200,892.64. The trade was a 102.08% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders have acquired 248,000 shares of company stock worth $281,860. Corporate insiders own 0.21% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers raised its holdings in shares of 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. Squarepoint Ops LLC acquired a new stake in shares of GCT Semiconductor during the fourth quarter worth $45,000. Renaissance Technologies LLC acquired a new stake in shares of GCT Semiconductor during the fourth quarter worth $58,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of 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. 28.06% of the stock is currently owned by 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.