GCT Semiconductor (NYSE:GCTS) Issues Quarterly Earnings Results

GCT Semiconductor (NYSE:GCTS) released its quarterly earnings results on Tuesday. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.02), FiscalAI reports. The business had revenue of $1.92 million during the quarter, compared to analyst estimates of $1.77 million.

GCT Semiconductor Trading Up 0.2%

Shares of NYSE GCTS traded up $0.00 during trading hours on Tuesday, hitting $1.60. 6,737,224 shares of the company traded hands, compared to its average volume of 3,791,679. The stock has a market capitalization of $116.17 million, a price-to-earnings ratio of -1.98 and a beta of 1.27. The company’s 50 day moving average price is $1.27 and its 200 day moving average price is $1.27. GCT Semiconductor has a 12 month low of $0.90 and a 12 month high of $2.47.

Wall Street Analyst Weigh In

Several research firms have weighed in on GCTS. HC Wainwright restated a “buy” rating and set a $3.00 price target on shares of GCT Semiconductor in a report on Monday, March 30th. Weiss Ratings upgraded GCT Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, GCT Semiconductor currently has a consensus rating of “Hold” and a consensus price target of $3.50.

Hedge Funds Weigh In On GCT Semiconductor

Large investors have recently modified their holdings of the stock. XTX Topco Ltd bought a new position in shares of GCT Semiconductor during the 4th quarter valued at approximately $26,000. Engineers Gate Manager LP bought a new position in shares of GCT Semiconductor during the 2nd quarter valued at approximately $37,000. Blair William & Co. IL bought a new position in shares of GCT Semiconductor during the 3rd quarter valued at approximately $47,000. Bridgeway Capital Management LLC purchased a new position in GCT Semiconductor during the 3rd quarter valued at $76,000. Finally, Goldman Sachs Group Inc. boosted its holdings in 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 acquiring an additional 25,535 shares during the period. Institutional investors own 28.06% of the company’s stock.

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.