GCT Semiconductor (NYSE:GCTS) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of GCT Semiconductor (NYSE:GCTS) from a hold rating to a sell rating in a report released on Monday morning.

Separately, 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.com, the company presently has an average rating of “Hold” and a consensus target price of $3.50.

GCT Semiconductor Price Performance

NYSE:GCTS opened at $2.10 on Monday. GCT Semiconductor has a fifty-two week low of $0.95 and a fifty-two week high of $3.93. The stock’s 50-day moving average is $2.38 and its two-hundred day moving average is $1.87. The stock has a market cap of $193.14 million, a PE ratio of -2.62 and a beta of 1.81.

GCT Semiconductor (NYSE:GCTS) last issued its earnings results 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 firm had revenue of $0.97 million during the quarter, compared to the consensus estimate of $3.30 million. On average, equities research analysts anticipate that GCT Semiconductor will post -0.69 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. XTX Topco Ltd purchased a new stake in shares of GCT Semiconductor during the 4th quarter worth about $26,000. Engineers Gate Manager LP acquired a new position in GCT Semiconductor in the second quarter worth approximately $37,000. Blair William & Co. IL acquired a new position in GCT Semiconductor in the third quarter worth approximately $47,000. Bridgeway Capital Management LLC acquired a new position in GCT Semiconductor in the third quarter worth approximately $76,000. Finally, Goldman Sachs Group Inc. raised its position in GCT Semiconductor by 57.5% during the first quarter. Goldman Sachs Group Inc. now owns 69,917 shares of the company’s stock valued at $115,000 after acquiring an additional 25,535 shares in the last quarter. Hedge funds and other institutional investors own 28.06% of the company’s stock.

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.