Mitsubishi UFJ Asset Management Co. Ltd. Takes $91.96 Million Position in GCT Semiconductor Holding, Inc. $GCTS

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of GCT Semiconductor Holding, Inc. (NYSE:GCTS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 972,668 shares of the company’s stock, valued at approximately $91,956,000.

Several other institutional investors have also bought and sold shares of the stock. Bank of New York Mellon Corp purchased a new stake in GCT Semiconductor in the 2nd quarter valued at $210,594,000. Jane Street Group LLC purchased a new position in GCT Semiconductor during the 2nd quarter worth $246,000. XTX Topco Ltd purchased a new position in GCT Semiconductor during the 2nd quarter worth $95,000. Vanguard Group Inc. grew its stake in shares of GCT Semiconductor by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,583,800 shares of the company’s stock worth $2,407,000 after acquiring an additional 50,799 shares in the last quarter. Finally, Bridgeway Capital Management LLC bought a new stake in shares of GCT Semiconductor in the 3rd quarter worth $76,000. Institutional investors own 28.06% of the company’s stock.

GCT Semiconductor Trading Down 6.9%

Shares of GCTS opened at $1.95 on Wednesday. The stock has a 50 day moving average of $2.37 and a 200 day moving average of $1.88. The company has a market capitalization of $178.88 million, a price-to-earnings ratio of -2.43 and a beta of 1.81. GCT Semiconductor Holding, Inc. has a 12 month low of $0.95 and a 12 month high of $3.93.

GCT Semiconductor (NYSE:GCTS) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate 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. As a group, equities research analysts predict that GCT Semiconductor Holding, Inc. will post -0.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Wall Street Zen downgraded shares of GCT Semiconductor from a “hold” rating to a “sell” rating in a report on Monday. Weiss Ratings restated a “sell (d-)” rating on shares of GCT Semiconductor in a report on Monday, August 3rd. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $3.50.

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.