GCT Semiconductor’s (GCTS) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of GCT Semiconductor (NYSE:GCTS) in a report released on Tuesday morning,Benzinga reports. They currently have a $3.00 target price on the stock.

A number of other research firms have also commented on GCTS. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of GCT Semiconductor in a research report on Wednesday, October 8th. B. Riley dropped their target price on shares of GCT Semiconductor from $4.50 to $4.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $3.50.

GCT Semiconductor Stock Performance

GCTS opened at $1.06 on Tuesday. The firm’s fifty day moving average is $1.30 and its two-hundred day moving average is $1.39. The firm has a market cap of $60.24 million, a PE ratio of -1.37 and a beta of 1.23. GCT Semiconductor has a twelve month low of $0.90 and a twelve month high of $2.57.

GCT Semiconductor (NYSE:GCTS) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.06). The company had revenue of $0.43 million for the quarter, compared to analyst estimates of $1.20 million. Equities analysts forecast that GCT Semiconductor will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling at GCT Semiconductor

In related news, Director Hyunsoo Shin bought 25,453 shares of the stock in a transaction that occurred on Thursday, November 20th. The shares were acquired at an average price of $1.28 per share, with a total value of $32,579.84. Following the completion of the transaction, the director owned 737,866 shares in the company, valued at $944,468.48. The trade was a 3.57% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders bought 45,358 shares of company stock valued at $58,058. 5.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On GCT Semiconductor

Several large investors have recently made changes to their positions in GCTS. Goldman Sachs Group Inc. increased its holdings in GCT Semiconductor by 57.5% during the first 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 last quarter. Bridgeway Capital Management LLC acquired a new stake in GCT Semiconductor in the third quarter valued at $76,000. Blair William & Co. IL bought a new position in shares of GCT Semiconductor in the 3rd quarter valued at about $47,000. Vanguard Group Inc. increased its stake in shares of GCT Semiconductor by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,583,800 shares of the company’s stock worth $2,407,000 after purchasing an additional 50,799 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new position in GCT Semiconductor during the second quarter worth approximately $37,000. Institutional investors and hedge funds 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.