GCT Semiconductor (NYSE:GCTS) Trading Down 0.8% - What's Next?

Key Points

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

Analyst Ratings Changes

Several research analysts have issued reports on GCTS shares. Zacks Research cut GCT Semiconductor from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 14th. Wall Street Zen cut GCT Semiconductor from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $5.00.

GCT Semiconductor Price Performance

The firm has a market cap of $68.93 million, a PE ratio of -1.81 and a beta of 1.20. The business has a 50-day moving average price of $1.41 and a two-hundred day moving average price of $1.53.

GCT Semiconductor (NYSE:GCTS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.26) earnings per share 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 analyst estimates of $2.26 million. Equities analysts expect that GCT Semiconductor Holding, Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Activity at GCT Semiconductor

In related news, Director Hyunsoo Shin acquired 85,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The shares were acquired at an average price of $1.18 per share, with a total value of $100,300.00. Following the completion of the purchase, the director directly owned 492,248 shares in the company, valued at approximately $580,852.64. The trade was a 20.87% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.40% of the stock is currently owned by insiders.

Institutional Trading of GCT Semiconductor

A number of large investors have recently made changes to their positions in the stock. Engineers Gate Manager LP acquired a new stake in shares of GCT Semiconductor during the second quarter valued at $37,000. Jane Street Group LLC acquired a new stake in shares of GCT Semiconductor during the second quarter valued at $246,000. XTX Topco Ltd acquired a new stake in shares of GCT Semiconductor during the second quarter valued at $95,000. Goldman Sachs Group Inc. boosted its stake 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 valued at $115,000 after acquiring an additional 25,535 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of GCT Semiconductor during the fourth quarter valued at $45,000. Institutional investors and hedge funds 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.