GCT Semiconductor (NYSE:GCTS) Stock Rating Raised to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of GCT Semiconductor (NYSE:GCTS) from a sell rating to a hold rating in a research note published on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings upgraded shares of GCT Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, October 29th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $3.00.

GCT Semiconductor Price Performance

NYSE:GCTS traded down $0.28 during midday trading on Friday, reaching $1.26. The stock had a trading volume of 2,811,072 shares, compared to its average volume of 2,007,479. GCT Semiconductor has a 1-year low of $0.95 and a 1-year high of $3.93. The firm’s fifty day simple moving average is $1.73 and its 200-day simple moving average is $1.83. The stock has a market capitalization of $116.34 million, a P/E ratio of -2.01 and a beta of 1.85.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GCTS. Marshall Wace LLP boosted its position in shares of GCT Semiconductor by 174.8% in the third quarter. Marshall Wace LLP now owns 3,562,613 shares of the company’s stock valued at $7,553,000 after acquiring an additional 2,266,180 shares during the period. Robertson Stephens Wealth Management LLC increased its position in GCT Semiconductor by 203.7% during the third quarter. Robertson Stephens Wealth Management LLC now owns 455,500 shares of the company’s stock worth $966,000 after acquiring an additional 305,500 shares during the period. Asset Management One Co. Ltd. acquired a new position in GCT Semiconductor during the 3rd quarter valued at $264,000. Empowered Funds LLC acquired a new position in GCT Semiconductor during the 3rd quarter valued at $230,000. Finally, M Holdings Securities Inc. acquired a new position in GCT Semiconductor during the 3rd quarter valued at $125,000. 28.06% of the stock is owned by institutional investors.

About GCT Semiconductor

GCT Semiconductor is a fabless semiconductor company that develops wireless connectivity chips and related solutions. Its products are designed for cellular applications, including 4G LTE, 5G and the Internet of Things. The company’s offerings include modem and radio-frequency technologies used in devices such as mobile broadband equipment, routers and connected products. GCT works with customers and partners that incorporate its chipsets into wireless devices and systems. Founded in 1998, GCT serves customers in the global wireless communications market.