GCT Semiconductor (NYSE:GCTS) Stock Price Down 4.3% – Should You Sell?

GCT Semiconductor Holding, Inc. (NYSE:GCTS) shares were down 4.3% during mid-day trading on Monday . The stock traded as low as $2.32 and last traded at $2.3550. Approximately 1,462,655 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 2,859,190 shares. The stock had previously closed at $2.46.

Analyst Ratings Changes

Several research firms have commented on GCTS. Weiss Ratings raised shares of GCT Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 6th. HC Wainwright reaffirmed a “buy” rating and set a $3.00 target price on shares of GCT Semiconductor in a report on Monday, March 30th. Finally, Wall Street Zen raised shares of GCT Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Two research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $3.50.

GCT Semiconductor Trading Down 3.7%

The stock has a 50 day simple moving average of $2.63 and a 200 day simple moving average of $1.71. The firm has a market capitalization of $209.31 million, a PE ratio of -2.84 and a beta of 1.78.

GCT Semiconductor (NYSE:GCTS) last issued its earnings results on Tuesday, May 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The firm had revenue of $1.92 million for the quarter, compared to analysts’ expectations of $1.77 million. As a group, equities analysts anticipate that GCT Semiconductor Holding, Inc. will post -0.34 earnings per share for the current year.

Hedge Funds Weigh In On GCT Semiconductor

Hedge funds have recently modified their holdings of the company. XTX Topco Ltd bought a new position in shares of GCT Semiconductor during the fourth quarter valued at about $26,000. Engineers Gate Manager LP bought a new stake in shares of GCT Semiconductor in the second quarter worth about $37,000. Blair William & Co. IL purchased a new position in GCT Semiconductor during the 3rd quarter valued at about $47,000. Bridgeway Capital Management LLC bought a new position in GCT Semiconductor during the 3rd quarter valued at approximately $76,000. Finally, Goldman Sachs Group Inc. raised its position in GCT Semiconductor by 57.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 69,917 shares of the company’s stock valued at $115,000 after purchasing an additional 25,535 shares during the last quarter. 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.