GCT Semiconductor (NYSE:GCTS) Trading Down 0.8% - Time to Sell?

Key Points

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GCT Semiconductor Holding, Inc. (NYSE:GCTS - Get Free Report)'s share price traded down 0.8% during trading on Monday . The company traded as low as $1.23 and last traded at $1.25. 174,761 shares were traded during trading, a decline of 15% from the average session volume of 206,599 shares. The stock had previously closed at $1.26.

Wall Street Analyst Weigh In

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

GCT Semiconductor Stock Down 0.8%

The stock has a market capitalization of $69.81 million, a P/E ratio of -1.84 and a beta of 1.20. The firm has a 50 day simple moving average of $1.41 and a two-hundred day simple moving average of $1.55.

GCT Semiconductor (NYSE:GCTS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.26) EPS 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 predict that GCT Semiconductor Holding, Inc. will post -0.3 earnings per share for the current year.

Insider Activity at GCT Semiconductor

In related news, Director Hyunsoo Shin bought 85,000 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was acquired at an average cost of $1.18 per share, with a total value of $100,300.00. Following the transaction, the director directly owned 492,248 shares in the company, valued at approximately $580,852.64. This trade 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 at the SEC website. Insiders own 5.40% of the company's stock.

Institutional Trading of GCT Semiconductor

Large investors have recently bought and sold shares of the business. Squarepoint Ops LLC acquired a new stake in shares of GCT Semiconductor in the 4th quarter valued at about $45,000. Renaissance Technologies LLC acquired a new position in GCT Semiconductor during the 4th quarter valued at about $58,000. Jane Street Group LLC acquired a new position in GCT Semiconductor during the 2nd quarter valued at about $246,000. Goldman Sachs Group Inc. boosted its stake in GCT Semiconductor by 57.5% during the 1st 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. Finally, XTX Topco Ltd acquired a new position in GCT Semiconductor during the 2nd quarter valued at about $95,000. 28.06% of the stock is currently owned by institutional investors and hedge funds.

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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