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

Wall Street Zen downgraded shares of GCT Semiconductor (NYSE:GCTS) from a hold rating to a sell rating in a report published on Monday morning.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of GCT Semiconductor in a report on Monday, August 3rd. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, GCT Semiconductor has an average rating of “Hold” and a consensus target price of $3.50.

GCT Semiconductor Price Performance

Shares of NYSE:GCTS opened at $1.98 on Monday. The company has a market capitalization of $181.64 million, a price-to-earnings ratio of -2.47 and a beta of 1.81. The business’s 50-day moving average is $2.36 and its 200-day moving average is $1.89. GCT Semiconductor has a 1 year low of $0.95 and a 1 year high of $3.93.

GCT Semiconductor (NYSE:GCTS) last released its earnings results on Monday, August 10th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.17). The company had revenue of $0.97 million during the quarter, compared to analyst estimates of $3.30 million. Analysts anticipate that GCT Semiconductor will post -0.69 EPS for the current year.

Institutional Trading of GCT Semiconductor

Large investors have recently made changes to their positions in the company. Beacon Pointe Advisors LLC bought a new stake in GCT Semiconductor in the 2nd quarter valued at about $2,089,000. Rakuten Investment Management Inc. bought a new position in GCT Semiconductor in the second quarter worth approximately $10,168,000. Empowered Funds LLC bought a new position in GCT Semiconductor in the second quarter worth approximately $6,556,000. United Capital Financial Advisors LLC acquired a new stake in GCT Semiconductor in the second quarter valued at approximately $1,564,000. Finally, Glazer Capital LLC acquired a new stake in GCT Semiconductor in the second quarter valued at approximately $9,454,000. 28.06% of the stock is currently owned by institutional investors and hedge funds.

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.