GCT Semiconductor Holding, Inc. (NYSE:GCTS) Director Acquires $100,300.00 in Stock

GCT Semiconductor Holding, Inc. (NYSE:GCTS) Director Hyunsoo Shin bought 85,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 10th. The shares were purchased at an average cost of $1.18 per share, for a total transaction of $100,300.00. Following the acquisition, the director now directly owns 492,248 shares in the company, valued at $580,852.64. This trade represents a 20.87% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

Hyunsoo Shin also recently made the following trade(s):

• On Friday, May 23rd, Hyunsoo Shin bought 77,000 shares of GCT Semiconductor stock. The shares were purchased at an average cost of $1.04 per share, for a total transaction of $80,080.00.
• On Tuesday, May 20th, Hyunsoo Shin bought 86,000 shares of GCT Semiconductor stock. The shares were purchased at an average cost of $1.18 per share, for a total transaction of $101,480.00.

GCT Semiconductor Trading Up 5.8%

GCT Semiconductor stock opened at $1.37 on Friday. The firm’s 50 day simple moving average is $1.31 and its 200 day simple moving average is $1.88. The firm has a market capitalization of $66.17 million, a PE ratio of -3.10 and a beta of 1.04. GCT Semiconductor Holding, Inc. has a 1-year low of $0.90 and a 1-year high of $5.65.

GCT Semiconductor (NYSE:GCTS) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.05). The firm had revenue of $0.50 million for the quarter, compared to analysts’ expectations of $1.87 million. Research analysts forecast that GCT Semiconductor Holding, Inc. will post -0.3 earnings per share for the current year.

Hedge Funds Weigh In On GCT Semiconductor

Institutional investors have recently made changes to their positions in the stock. Squarepoint Ops LLC bought a new position in shares of GCT Semiconductor in the 4th quarter worth $45,000. Renaissance Technologies LLC bought a new position in shares of GCT Semiconductor in the 4th quarter worth $58,000. Rhumbline Advisers increased its holdings in shares of GCT Semiconductor by 798.1% in the 4th quarter. Rhumbline Advisers now owns 51,327 shares of the company’s stock worth $120,000 after buying an additional 45,612 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of GCT Semiconductor by 57.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 69,917 shares of the company’s stock worth $115,000 after buying an additional 25,535 shares during the last quarter. Institutional investors own 28.06% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of GCT Semiconductor from a “hold” rating to a “strong sell” rating in a report on Thursday, May 22nd.

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.