Danske Bank A S Acquires Shares of 256,779 GCT Semiconductor Holding, Inc. $GCTS

Danske Bank A S bought a new position in shares of GCT Semiconductor Holding, Inc. (NYSE:GCTS) during the second quarter, Holdings Channel.com reports. The firm bought 256,779 shares of the company’s stock, valued at approximately $24,276,000.

Several other institutional investors have also recently made changes to their positions in GCTS. GSA Capital Partners LLP bought a new position in shares of GCT Semiconductor in the 2nd quarter worth approximately $401,000. Meeder Advisory Services Inc. bought a new stake in shares of GCT Semiconductor during the second quarter valued at approximately $758,000. State of Wyoming purchased a new stake in GCT Semiconductor in the second quarter worth $839,000. Artemis Wealth Advisors LLC purchased a new stake in GCT Semiconductor in the second quarter worth $494,000. Finally, State Street Corp raised its holdings in GCT Semiconductor by 8.9% in the fourth quarter. State Street Corp now owns 144,689 shares of the company’s stock worth $174,000 after purchasing an additional 11,800 shares in the last quarter. Institutional investors own 28.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Wall Street Zen lowered GCT Semiconductor from a “hold” rating to a “sell” rating in a research report on Monday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GCT Semiconductor in a research report on Monday, August 3rd. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, GCT Semiconductor presently has a consensus rating of “Hold” and a consensus target price of $3.50.

GCT Semiconductor Stock Up 2.3%

GCTS stock opened at $1.98 on Thursday. GCT Semiconductor Holding, Inc. has a twelve month low of $0.95 and a twelve month high of $3.93. The firm has a market cap of $181.64 million, a PE ratio of -2.47 and a beta of 1.81. The business has a 50 day moving average of $2.36 and a 200 day moving average of $1.89.

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

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.