GCT Semiconductor (NYSE:GCTS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of GCT Semiconductor (NYSE:GCTS) from a sell rating to a hold rating in a research note released on Sunday.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GCT Semiconductor in a research note on Monday, August 3rd. Two analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $3.50.

GCT Semiconductor Stock Down 16.5%

Shares of NYSE:GCTS opened at $2.04 on Friday. GCT Semiconductor has a 52-week low of $0.95 and a 52-week high of $3.93. The company has a 50 day moving average of $2.44 and a two-hundred day moving average of $1.84. The company has a market capitalization of $186.01 million, a price-to-earnings ratio of -2.56 and a beta of 1.81.

GCT Semiconductor (NYSE:GCTS) last posted its earnings results on Monday, August 10th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.17). The firm had revenue of $0.97 million for the quarter, compared to analyst estimates of $3.30 million. On average, equities analysts anticipate that GCT Semiconductor will post -0.34 earnings per share for the current year.

Institutional Investors Weigh In On GCT Semiconductor

Several hedge funds and other institutional investors have recently bought and sold shares of GCTS. GSA Capital Partners LLP acquired a new position in shares of GCT Semiconductor in the 2nd quarter valued at approximately $401,000. NewEdge Wealth LLC acquired a new stake in shares of GCT Semiconductor during the second quarter worth approximately $410,000. Ieq Capital LLC acquired a new stake in shares of GCT Semiconductor during the second quarter worth approximately $508,000. Meeder Advisory Services Inc. bought a new stake in shares of GCT Semiconductor in the second quarter worth $758,000. Finally, State of Wyoming bought a new stake in shares of GCT Semiconductor in the second quarter worth $839,000. 28.06% of the stock is currently owned by hedge funds and other institutional investors.

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.