Insider Buying: GCT Semiconductor (NYSE:GCTS) Director Buys 25,453 Shares of Stock

GCT Semiconductor Holding, Inc. (NYSE:GCTS) Director Hyunsoo Shin acquired 25,453 shares of GCT Semiconductor stock in a transaction that occurred on Thursday, November 20th. The shares were bought at an average cost of $1.28 per share, with a total value of $32,579.84. Following the transaction, the director owned 737,866 shares in the company, valued at $944,468.48. This represents a 3.57% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Friday, November 21st, Hyunsoo Shin bought 3,180 shares of GCT Semiconductor stock. The stock was bought at an average cost of $1.28 per share, for a total transaction of $4,070.40.
• On Friday, September 12th, Hyunsoo Shin bought 44,067 shares of GCT Semiconductor stock. The stock was bought at an average cost of $1.51 per share, for a total transaction of $66,541.17.

GCT Semiconductor Stock Performance

Shares of GCTS traded up $0.04 during trading hours on Monday, hitting $1.35. The company had a trading volume of 97,877 shares, compared to its average volume of 344,772. The stock has a market capitalization of $76.80 million, a price-to-earnings ratio of -1.75 and a beta of 1.21. The firm has a fifty day moving average price of $1.47 and a 200-day moving average price of $1.39. GCT Semiconductor Holding, Inc. has a 52-week low of $0.90 and a 52-week high of $2.81.

GCT Semiconductor (NYSE:GCTS) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.06). The company had revenue of $0.43 million for the quarter, compared to the consensus estimate of $1.20 million. Research analysts anticipate that GCT Semiconductor Holding, Inc. will post -0.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GCT Semiconductor

Large investors have recently made changes to their positions in the company. Engineers Gate Manager LP purchased a new stake in GCT Semiconductor in the second quarter worth about $37,000. Blair William & Co. IL purchased a new position in GCT Semiconductor during the third quarter valued at approximately $47,000. Bridgeway Capital Management LLC purchased a new stake in shares of GCT Semiconductor in the third quarter worth $76,000. XTX Topco Ltd bought a new stake in shares of GCT Semiconductor during the 2nd quarter valued at $95,000. Finally, Goldman Sachs Group Inc. raised its position 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 valued at $115,000 after purchasing an additional 25,535 shares during the period. 28.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on GCTS shares. B. Riley decreased their price objective on shares of GCT Semiconductor from $4.50 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Zacks Research lowered GCT Semiconductor from a “hold” rating to a “strong sell” rating in a report on Thursday, August 14th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of GCT Semiconductor in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $4.00.

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.