GCT Semiconductor (NYSE:GCTS) Earns “Buy” Rating from HC Wainwright

GCT Semiconductor (NYSE:GCTS)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research report issued on Monday,Benzinga reports. They presently have a $3.00 target price on the stock. HC Wainwright’s price objective suggests a potential upside of 169.06% from the company’s current price.

GCT Semiconductor Stock Down 0.4%

Shares of NYSE GCTS opened at $1.12 on Monday. The stock has a market capitalization of $80.80 million, a PE ratio of -1.38 and a beta of 1.23. The firm has a fifty day moving average of $1.18 and a 200-day moving average of $1.31. GCT Semiconductor has a 52-week low of $0.90 and a 52-week high of $2.47.

GCT Semiconductor (NYSE:GCTS) last issued its earnings results on Wednesday, March 25th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.07. The firm had revenue of $0.76 million during the quarter, compared to analyst estimates of $0.96 million. Equities research analysts expect that GCT Semiconductor will post -0.3 EPS for the current fiscal year.

Institutional Trading of GCT Semiconductor

Institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp raised its position in GCT Semiconductor by 8.9% in the fourth quarter. State Street Corp now owns 144,689 shares of the company’s stock valued at $174,000 after purchasing an additional 11,800 shares during the period. Geode Capital Management LLC grew its stake in shares of GCT Semiconductor by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 414,944 shares of the company’s stock valued at $498,000 after buying an additional 17,867 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of GCT Semiconductor during the 4th quarter valued at about $26,000. Engineers Gate Manager LP acquired a new position in GCT Semiconductor during the 2nd quarter worth approximately $37,000. Finally, Bridgeway Capital Management LLC lifted its position in GCT Semiconductor by 50.0% during the 4th quarter. Bridgeway Capital Management LLC now owns 75,000 shares of the company’s stock worth $90,000 after acquiring an additional 25,000 shares in the last quarter. Institutional investors and hedge funds 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.