GCT Semiconductor (NYSE:GCTS) Releases Earnings Results, Misses Expectations By $0.17 EPS

GCT Semiconductor (NYSE:GCTS) issued its quarterly earnings data on Monday. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.17), Zacks reports.

GCT Semiconductor Price Performance

Shares of NYSE:GCTS traded down $0.09 on Monday, reaching $2.46. 3,993,236 shares of the company traded hands, compared to its average volume of 4,639,258. The stock has a market capitalization of $223.76 million, a PE ratio of -3.04 and a beta of 1.81. The company’s 50 day moving average is $2.49 and its 200-day moving average is $1.83. GCT Semiconductor has a fifty-two week low of $0.95 and a fifty-two week high of $3.93.

Institutional Investors Weigh In On GCT Semiconductor

A number of institutional investors and hedge funds have recently modified their holdings of GCTS. XTX Topco Ltd purchased a new stake in GCT Semiconductor during the fourth quarter valued at about $26,000. Bridgeway Capital Management LLC increased its position in shares of GCT Semiconductor by 50.0% in the fourth quarter. Bridgeway Capital Management LLC now owns 75,000 shares of the company’s stock worth $90,000 after acquiring an additional 25,000 shares in the last quarter. State Street Corp increased its position in shares of GCT Semiconductor by 8.9% in the fourth quarter. State Street Corp now owns 144,689 shares of the company’s stock worth $174,000 after acquiring an additional 11,800 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of GCT Semiconductor by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 414,944 shares of the company’s stock valued at $498,000 after acquiring an additional 17,867 shares during the period. Finally, Blair William & Co. IL acquired a new stake in shares of GCT Semiconductor during the third quarter valued at approximately $47,000. 28.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on GCTS shares. Wall Street Zen upgraded shares of GCT Semiconductor from a “sell” rating to a “hold” rating in a report on Sunday. Weiss Ratings reiterated a “sell (d-)” rating on shares of GCT Semiconductor in a research report on Monday, August 3rd. Two research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, GCT Semiconductor has a consensus rating of “Hold” and a consensus 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.