Legal & General Group Plc Takes Position in GCT Semiconductor Holding, Inc. $GCTS

Legal & General Group Plc acquired a new position in GCT Semiconductor Holding, Inc. (NYSE:GCTS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,893,079 shares of the company’s stock, valued at approximately $273,512,000. Legal & General Group Plc owned about 3.18% of GCT Semiconductor at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in GCTS. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of GCT Semiconductor during the 2nd quarter valued at $91,956,000. Bank of New York Mellon Corp bought a new position in GCT Semiconductor in the 2nd quarter worth $210,594,000. Great Lakes Advisors LLC purchased a new position in GCT Semiconductor during the second quarter valued at $25,484,000. Danske Bank A S bought a new stake in GCT Semiconductor during the second quarter valued at about $24,276,000. Finally, Korea Investment CORP bought a new stake in GCT Semiconductor during the second quarter valued at about $25,384,000. 28.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on GCTS shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GCT Semiconductor in a research note on Monday, August 3rd. Wall Street Zen downgraded GCT Semiconductor from a “hold” rating to a “sell” rating in a research note on Monday, August 17th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $3.50.

GCT Semiconductor Price Performance

NYSE GCTS opened at $1.88 on Thursday. The stock has a market capitalization 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 two-hundred day simple moving average of $1.91. GCT Semiconductor Holding, Inc. has a 1-year low of $0.95 and a 1-year high of $3.93.

GCT Semiconductor (NYSE:GCTS) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.25) earnings per share (EPS) 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 analyst estimates of $3.30 million. On average, analysts anticipate that GCT Semiconductor Holding, Inc. will post -0.69 EPS for the current fiscal year.

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.