GCT Semiconductor (NYSE:GCTS) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of GCT Semiconductor (NYSE:GCTS) from a sell rating to a hold rating in a research report report published on Sunday.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of GCT Semiconductor in a research report on Monday, August 3rd. Two investment 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, the stock presently has a consensus rating of “Hold” and a consensus target price of $3.50.

GCT Semiconductor Stock Up 0.2%

Shares of GCTS stock opened at $2.56 on Friday. GCT Semiconductor has a 12-month low of $0.95 and a 12-month high of $3.93. The company has a market capitalization of $232.40 million, a P/E ratio of -3.15 and a beta of 1.81. The firm has a 50-day moving average price of $2.49 and a 200 day moving average price of $1.83.

GCT Semiconductor (NYSE:GCTS) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.15) earnings per share 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 analysts’ expectations of $1.77 million. As a group, research analysts expect that GCT Semiconductor will post -0.34 earnings per share for the current year.

Hedge Funds Weigh In On GCT Semiconductor

A number of large investors have recently modified their holdings of GCTS. GSA Capital Partners LLP bought a new position in GCT Semiconductor in the 2nd quarter worth approximately $401,000. XTX Topco Ltd acquired a new stake in shares of GCT Semiconductor in the 4th quarter valued at $26,000. Bridgeway Capital Management LLC raised its position in shares of GCT Semiconductor by 50.0% during the fourth 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 during the last quarter. Blair William & Co. IL bought a new stake in shares of GCT Semiconductor during the third quarter worth $47,000. Finally, Engineers Gate Manager LP acquired a new position in shares of GCT Semiconductor during the second quarter valued at $37,000. 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.