Wall Street Zen Upgrades GCT Semiconductor (NYSE:GCTS) to "Hold"

Key Points

• Wall Street Zen upgraded GCT Semiconductor to “Hold” from “Sell,” while Weiss Ratings maintained a “sell (D-)” rating. Analysts are split, with an overall consensus “Hold” rating and a $3.50 price target.
• GCTS shares opened at $2.56, with a market capitalization of approximately $232.4 million. The stock has traded between $0.95 and $3.93 over the past year and has a 200-day moving average of $1.82.
• The company reported a quarterly loss of $0.15 per share, missing estimates by $0.02, although revenue of $1.92 million exceeded expectations. Institutional investors own about 28.06% of the stock after several firms established new positions.

GCT Semiconductor (NYSE:GCTS - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Sunday.

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of GCT Semiconductor in a research note on Monday, August 3rd. Two investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $3.50.

GCT Semiconductor Price Performance

Shares of GCTS stock opened at $2.56 on Friday. The firm has a market capitalization of $232.40 million, a price-to-earnings ratio of -3.15 and a beta of 1.81. The business has a fifty day moving average of $2.49 and a 200 day moving average of $1.82. GCT Semiconductor has a 1 year low of $0.95 and a 1 year high of $3.93.

GCT Semiconductor (NYSE:GCTS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The business had revenue of $1.92 million for the quarter, compared to analyst estimates of $1.77 million. As a group, equities research analysts expect that GCT Semiconductor will post -0.34 earnings per share for the current year.

Institutional Investors Weigh In On GCT Semiconductor

A number of institutional investors have recently made changes to their positions in GCTS. Bank of New York Mellon Corp acquired a new stake in GCT Semiconductor in the second quarter valued at $210,594,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in GCT Semiconductor during the second quarter worth approximately $91,956,000. Jane Street Group LLC acquired a new position in shares of GCT Semiconductor in the 2nd quarter valued at $246,000. Wealthfront Advisers LLC purchased a new stake in shares of GCT Semiconductor in the second quarter valued at about $6,947,000. Finally, XTX Topco Ltd purchased a new stake in GCT Semiconductor during the 2nd quarter valued at approximately $95,000. 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. It also develops and sells cellular IoT chipsets for low-speed mobile networks such as eMTC/NB-IOT/Sigfox, and other network protocols; and 5G solutions. Its products and solutions are used in smartphones, tablets, hotspots, CPEs, USB dongles, routers, and M2M applications.

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