GCT Semiconductor (NYSE:GCTS) Rating Lowered to Sell at Wall Street Zen

GCT Semiconductor (NYSE:GCTS) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Monday.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of GCT Semiconductor in a research report on Monday, August 3rd. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $3.50.

GCT Semiconductor Stock Performance

NYSE:GCTS opened at $1.95 on Monday. The stock has a market cap of $178.88 million, a price-to-earnings ratio of -2.43 and a beta of 1.81. GCT Semiconductor has a 1 year low of $0.95 and a 1 year high of $3.93. The business has a fifty day moving average of $2.37 and a 200-day moving average of $1.88.

GCT Semiconductor (NYSE:GCTS) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.17). The company had revenue of $0.97 million for the quarter, compared to analyst estimates of $3.30 million. On average, equities research analysts predict that GCT Semiconductor will post -0.69 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. GSA Capital Partners LLP bought a new stake in shares of GCT Semiconductor during the 2nd quarter worth $401,000. NewEdge Wealth LLC acquired a new stake in shares of GCT Semiconductor during the second quarter worth $410,000. Ieq Capital LLC purchased a new stake in shares of GCT Semiconductor during the second quarter valued at $508,000. Evolve Private Wealth LLC purchased a new stake in shares of GCT Semiconductor during the second quarter valued at $551,000. Finally, Meeder Advisory Services Inc. acquired a new position in shares of GCT Semiconductor in the 2nd quarter valued at $758,000. Institutional investors own 28.06% of the company’s stock.

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.