Great Lakes Advisors LLC Makes New Investment in GCT Semiconductor Holding, Inc. $GCTS

Great Lakes Advisors LLC purchased a new stake in shares of GCT Semiconductor Holding, Inc. (NYSE:GCTS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 269,555 shares of the company’s stock, valued at approximately $25,484,000. Great Lakes Advisors LLC owned about 0.30% of GCT Semiconductor as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of GCTS. Bank of New York Mellon Corp purchased a new position in shares of GCT Semiconductor in the 2nd quarter worth approximately $210,594,000. Vanguard Group Inc. lifted its position in GCT Semiconductor by 3.3% during the third quarter. Vanguard Group Inc. now owns 1,583,800 shares of the company’s stock valued at $2,407,000 after acquiring an additional 50,799 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in GCT Semiconductor in the second quarter valued at approximately $91,956,000. Geode Capital Management LLC boosted its stake in GCT Semiconductor by 4.5% in 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 in the last quarter. Finally, Danske Bank A S purchased a new position in GCT Semiconductor in the second quarter worth $24,276,000. 28.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GCTS has been the subject of several analyst reports. Wall Street Zen lowered GCT Semiconductor from a “hold” rating to a “sell” rating in a report on Monday. Weiss Ratings restated a “sell (d-)” rating on shares of GCT Semiconductor in a research note on Monday, August 3rd. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $3.50.

GCT Semiconductor Trading Down 6.9%

NYSE:GCTS opened at $1.95 on Wednesday. GCT Semiconductor Holding, Inc. has a twelve month low of $0.95 and a twelve month high of $3.93. The company has a market cap of $178.88 million, a PE ratio of -2.43 and a beta of 1.81. The company’s 50 day moving average is $2.37 and its two-hundred day moving average is $1.88.

GCT Semiconductor (NYSE:GCTS) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.25) earnings per share (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 analyst estimates of $3.30 million. As a group, analysts expect that GCT Semiconductor Holding, Inc. will post -0.69 EPS for the current fiscal year.

GCT Semiconductor 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.