Wall Street Zen Downgrades GCT Semiconductor (NYSE:GCTS) to Sell

GCT Semiconductor (NYSE:GCTS) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings upgraded shares of GCT Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $3.50.

GCT Semiconductor Stock Performance

Shares of GCT Semiconductor stock opened at $1.86 on Friday. GCT Semiconductor has a one year low of $0.95 and a one year high of $3.93. The company has a market cap of $169.64 million, a P/E ratio of -2.30 and a beta of 1.81. The firm has a fifty day moving average of $2.60 and a two-hundred day moving average of $1.78.

GCT Semiconductor (NYSE:GCTS) last issued its earnings results on Tuesday, May 12th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The firm had revenue of $1.92 million for the quarter, compared to analyst estimates of $1.77 million. As a group, equities analysts predict that GCT Semiconductor will post -0.34 earnings per share for the current year.

Institutional Investors Weigh In On GCT Semiconductor

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. XTX Topco Ltd purchased a new stake in shares of GCT Semiconductor during the 4th quarter worth $26,000. Engineers Gate Manager LP purchased a new position in shares of GCT Semiconductor in the 2nd quarter valued at about $37,000. Blair William & Co. IL purchased a new position in shares of GCT Semiconductor in the 3rd quarter valued at about $47,000. Bridgeway Capital Management LLC acquired a new stake in shares of GCT Semiconductor in the third quarter valued at about $76,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of GCT Semiconductor by 57.5% in the first 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. Institutional investors and hedge funds own 28.06% of the company’s stock.

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. 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.