Berkley W R Corp Purchases New Shares in GCT Semiconductor Holding, Inc. $GCTS

Berkley W R Corp acquired a new stake in GCT Semiconductor Holding, Inc. (NYSE:GCTS) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 731,118 shares of the company’s stock, valued at approximately $69,120,000. GCT Semiconductor makes up approximately 3.3% of Berkley W R Corp’s holdings, making the stock its 5th largest position.

Other large investors have also modified their holdings of the company. Jupiter Topco LLC acquired a new position in shares of GCT Semiconductor in the second quarter worth about $1,269,474,000. Legal & General Group Plc acquired a new stake in shares of 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 2nd quarter valued at about $210,594,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of GCT Semiconductor in the 2nd quarter valued at about $91,956,000. Finally, Caisse de depot et placement du Quebec purchased a new position in shares of GCT Semiconductor in the 2nd quarter valued at about $63,919,000. Institutional investors and hedge funds own 28.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GCTS. Wall Street Zen downgraded GCT Semiconductor from a “hold” rating to a “sell” rating in a research report on Monday, August 17th. Weiss Ratings restated a “sell (d-)” rating on shares of GCT Semiconductor in a research report on Monday, August 3rd. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, GCT Semiconductor presently has a consensus rating of “Hold” and an average price target of $3.50.

GCT Semiconductor Trading Up 1.9%

Shares of NYSE GCTS opened at $1.88 on Thursday. GCT Semiconductor Holding, Inc. has a 12-month low of $0.95 and a 12-month high of $3.93. The stock has a market cap of $172.44 million, a PE ratio of -2.34 and a beta of 1.81. The company has a 50-day moving average of $2.29 and a 200 day moving average of $1.91.

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