Korea Investment CORP Takes $25.38 Million Position in GCT Semiconductor Holding, Inc. $GCTS

Korea Investment CORP acquired a new stake in shares of GCT Semiconductor Holding, Inc. (NYSE:GCTS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 268,499 shares of the company’s stock, valued at approximately $25,384,000. Korea Investment CORP owned approximately 0.30% of GCT Semiconductor as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp bought a new position in GCT Semiconductor in the second quarter valued at about $210,594,000. Vanguard Group Inc. grew its holdings in shares of GCT Semiconductor by 3.3% during the third 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. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of GCT Semiconductor in the second quarter valued at approximately $91,956,000. Geode Capital Management LLC increased its stake in shares of GCT Semiconductor by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 414,944 shares of the company’s stock valued at $498,000 after buying an additional 17,867 shares during the period. Finally, Great Lakes Advisors LLC bought a new position in GCT Semiconductor in the 2nd quarter valued at approximately $25,484,000. Institutional investors own 28.06% of the company’s stock.

GCT Semiconductor Trading Down 0.7%

Shares of GCTS opened at $2.02 on Monday. The company has a market capitalization of $186.24 million, a PE ratio of -2.53 and a beta of 1.81. GCT Semiconductor Holding, Inc. has a 12 month low of $0.95 and a 12 month high of $3.93. The stock’s 50-day moving average price is $2.33 and its two-hundred day moving average price is $1.90.

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

Wall Street Analysts Forecast Growth

GCTS has been the topic of several recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of GCT Semiconductor in a research report on Monday, August 3rd. Wall Street Zen cut shares of GCT Semiconductor from a “hold” rating to a “sell” rating in a research report on Monday, August 17th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $3.50.

GCT Semiconductor 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.