Caisse de depot et placement du Quebec Buys New Shares in GCT Semiconductor Holding, Inc. $GCTS

Caisse de depot et placement du Quebec bought a new position in shares of GCT Semiconductor Holding, Inc. (NYSE:GCTS) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 676,110 shares of the company’s stock, valued at approximately $63,919,000. Caisse de depot et placement du Quebec owned approximately 0.74% of GCT Semiconductor as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. GSA Capital Partners LLP bought a new position in shares of GCT Semiconductor in the second quarter valued at $401,000. NewEdge Wealth LLC bought a new stake in shares of GCT Semiconductor during the 2nd quarter worth $410,000. Ieq Capital LLC bought a new stake in shares of GCT Semiconductor during the 2nd quarter worth $508,000. Evolve Private Wealth LLC acquired a new position in shares of GCT Semiconductor in the 2nd quarter worth $551,000. Finally, Meeder Advisory Services Inc. acquired a new position in shares of GCT Semiconductor in the 2nd quarter worth $758,000. Institutional investors and hedge funds own 28.06% of the company’s stock.

GCT Semiconductor Stock Performance

NYSE GCTS opened at $1.92 on Friday. The firm’s 50 day moving average price is $2.26 and its two-hundred day moving average price is $1.92. GCT Semiconductor Holding, Inc. has a twelve month low of $0.95 and a twelve month high of $3.93. The stock has a market cap of $176.12 million, a price-to-earnings ratio of -2.39 and a beta of 1.81.

GCT Semiconductor (NYSE:GCTS) last released its earnings results 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 firm had revenue of $0.97 million during the quarter, compared to the consensus estimate of $3.30 million. On average, research analysts forecast that GCT Semiconductor Holding, Inc. will post -0.69 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on GCTS shares. Wall Street Zen downgraded GCT Semiconductor from a “hold” rating to a “sell” rating in a report on Monday, August 17th. Weiss Ratings restated a “sell (d-)” rating on shares of GCT Semiconductor in a report on Monday, August 3rd. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $3.50.

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.