Jupiter Topco LLC Purchases Shares of 13,427,527 GCT Semiconductor Holding, Inc. $GCTS

Jupiter Topco LLC acquired a new position in shares of GCT Semiconductor Holding, Inc. (NYSE:GCTS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,427,527 shares of the company’s stock, valued at approximately $1,269,474,000. Jupiter Topco LLC owned approximately 14.60% of GCT Semiconductor at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Legal & General Group Plc purchased a new stake in GCT Semiconductor during the 2nd quarter valued at about $273,512,000. Bank of New York Mellon Corp purchased a new position in shares of GCT Semiconductor in the second quarter worth $210,594,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of GCT Semiconductor in the second quarter worth $91,956,000. Great Lakes Advisors LLC bought a new stake in GCT Semiconductor during the 2nd quarter valued at $25,484,000. Finally, Korea Investment CORP purchased a new stake in GCT Semiconductor during the 2nd quarter valued at $25,384,000. 28.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GCTS shares. Weiss Ratings restated a “sell (d-)” rating on shares of GCT Semiconductor in a report on Monday, August 3rd. Wall Street Zen downgraded shares of GCT Semiconductor from a “hold” rating to a “sell” rating in a report on Monday, August 17th. Two investment 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.com, the stock has a consensus rating of “Hold” and an average target price of $3.50.

GCT Semiconductor Trading Down 0.8%

GCT Semiconductor stock opened at $1.84 on Wednesday. The company has a market capitalization of $169.68 million, a P/E ratio of -2.31 and a beta of 1.81. GCT Semiconductor Holding, Inc. has a 1-year low of $0.95 and a 1-year high of $3.93. The firm’s fifty day simple moving average is $2.30 and its 200-day simple moving average is $1.91.

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

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.