Berkley W R Corp Makes New $69.12 Million Investment in GCT Semiconductor Holding, Inc. $GCTS

Berkley W R Corp purchased a new stake in shares of GCT Semiconductor Holding, Inc. (NYSE:GCTS) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 731,118 shares of the company’s stock, valued at approximately $69,120,000. GCT Semiconductor comprises 3.3% of Berkley W R Corp’s investment portfolio, making the stock its 5th biggest holding. Berkley W R Corp owned 0.79% of GCT Semiconductor at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. XTX Topco Ltd purchased a new position in shares of GCT Semiconductor in the fourth quarter worth about $26,000. Engineers Gate Manager LP purchased a new stake in GCT Semiconductor in the second quarter valued at approximately $37,000. Blair William & Co. IL purchased a new stake in GCT Semiconductor in the third quarter valued at approximately $47,000. Bridgeway Capital Management LLC purchased a new stake in GCT Semiconductor in the third quarter valued at approximately $76,000. Finally, Goldman Sachs Group Inc. increased its holdings in GCT Semiconductor by 57.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 69,917 shares of the company’s stock worth $115,000 after buying an additional 25,535 shares during the period. 28.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Wall Street Zen lowered shares of GCT Semiconductor from a “hold” rating to a “sell” rating in a research report on Monday, August 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GCT Semiconductor in a report on Monday, August 3rd. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $3.50.

GCT Semiconductor Stock Up 1.9%

Shares of GCTS stock opened at $1.88 on Thursday. The stock has a market cap of $172.44 million, a PE ratio of -2.34 and a beta of 1.81. The business has a 50-day simple moving average of $2.29 and a 200-day simple moving average of $1.91. GCT Semiconductor Holding, Inc. has a 52-week low of $0.95 and a 52-week high of $3.93.

GCT Semiconductor (NYSE:GCTS) last issued its earnings results on Monday, August 10th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.17). The firm had revenue of $0.97 million during the quarter, compared to analysts’ expectations of $3.30 million. Sell-side analysts anticipate that GCT Semiconductor Holding, Inc. will post -0.69 earnings per share for the current fiscal year.

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.