GCT Semiconductor (NYSE:GCTS) Stock Rating Upgraded by Wall Street Zen

GCT Semiconductor (NYSE:GCTS) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Sunday.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of GCT Semiconductor in a research report on Monday, August 3rd. Two equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, GCT Semiconductor presently has a consensus rating of “Hold” and a consensus price target of $3.50.

GCT Semiconductor Price Performance

Shares of NYSE:GCTS opened at $2.46 on Friday. The firm has a market capitalization of $223.76 million, a PE ratio of -3.04 and a beta of 1.81. The business has a 50-day moving average of $2.47 and a two-hundred day moving average of $1.84. GCT Semiconductor has a 12 month low of $0.95 and a 12 month high of $3.93.

GCT Semiconductor (NYSE:GCTS) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.17). The firm had revenue of $0.97 million during the quarter, compared to the consensus estimate of $3.30 million. As a group, research analysts anticipate that GCT Semiconductor will post -0.34 earnings per share for the current year.

Institutional Investors Weigh In On GCT Semiconductor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new position in GCT Semiconductor in the 2nd quarter worth $210,594,000. Vanguard Group Inc. grew its stake in shares of GCT Semiconductor by 3.3% during the third quarter. Vanguard Group Inc. now owns 1,583,800 shares of the company’s stock valued at $2,407,000 after acquiring an additional 50,799 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of GCT Semiconductor during the second quarter valued at about $91,956,000. Geode Capital Management LLC increased its position in shares of GCT Semiconductor by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 414,944 shares of the company’s stock worth $498,000 after acquiring an additional 17,867 shares during the last quarter. Finally, Great Lakes Advisors LLC purchased a new stake in shares of GCT Semiconductor during the second quarter worth about $25,484,000. Hedge funds and other institutional investors own 28.06% of the company’s stock.

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. 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.