Insider Buying: GCT Semiconductor Holding, Inc. (NYSE:GCTS) Director Acquires 85,000 Shares of Stock

GCT Semiconductor Holding, Inc. (NYSE:GCTS) Director Hyunsoo Shin purchased 85,000 shares of the stock in a transaction on Tuesday, June 10th. The shares were acquired at an average cost of $1.18 per share, with a total value of $100,300.00. Following the transaction, the director now directly owns 492,248 shares in the company, valued at $580,852.64. The trade was a 20.87% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

Hyunsoo Shin also recently made the following trade(s):

• On Friday, May 23rd, Hyunsoo Shin purchased 77,000 shares of GCT Semiconductor stock. The shares were acquired at an average cost of $1.04 per share, with a total value of $80,080.00.
• On Tuesday, May 20th, Hyunsoo Shin purchased 86,000 shares of GCT Semiconductor stock. The shares were acquired at an average cost of $1.18 per share, with a total value of $101,480.00.

GCT Semiconductor Price Performance

GCTS opened at $1.37 on Friday. The business has a 50 day simple moving average of $1.31 and a two-hundred day simple moving average of $1.89. The firm has a market capitalization of $66.17 million, a price-to-earnings ratio of -3.10 and a beta of 1.04. GCT Semiconductor Holding, Inc. has a one year low of $0.90 and a one year high of $5.65.

GCT Semiconductor (NYSE:GCTS) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.05). The business had revenue of $0.50 million during the quarter, compared to analyst estimates of $1.87 million. As a group, sell-side analysts expect that GCT Semiconductor Holding, Inc. will post -0.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Squarepoint Ops LLC purchased a new position in shares of GCT Semiconductor during the 4th quarter worth approximately $45,000. Renaissance Technologies LLC purchased a new position in shares of GCT Semiconductor during the 4th quarter worth approximately $58,000. Goldman Sachs Group Inc. grew its holdings in shares of GCT Semiconductor by 57.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 69,917 shares of the company’s stock worth $115,000 after acquiring an additional 25,535 shares during the period. Finally, Rhumbline Advisers grew its holdings in shares of GCT Semiconductor by 798.1% during the 4th quarter. Rhumbline Advisers now owns 51,327 shares of the company’s stock worth $120,000 after acquiring an additional 45,612 shares during the period. Hedge funds and other institutional investors own 28.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered GCT Semiconductor from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 22nd.

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.