Danske Bank A S Makes New $24.28 Million Investment in GCT Semiconductor Holding, Inc. $GCTS

Danske Bank A S acquired a new stake in GCT Semiconductor Holding, Inc. (NYSE:GCTS) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 256,779 shares of the company’s stock, valued at approximately $24,276,000. Danske Bank A S owned about 0.28% of GCT Semiconductor as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. Bank of New York Mellon Corp purchased a new position in shares of GCT Semiconductor in the second quarter worth $210,594,000. Vanguard Group Inc. boosted its position in GCT Semiconductor by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,583,800 shares of the company’s stock valued at $2,407,000 after buying an additional 50,799 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in GCT Semiconductor in the 2nd quarter worth $91,956,000. Geode Capital Management LLC grew its holdings in GCT Semiconductor by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 414,944 shares of the company’s stock worth $498,000 after acquiring an additional 17,867 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in GCT Semiconductor in the 2nd quarter worth $246,000. Hedge funds and other institutional investors own 28.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities 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 cut GCT Semiconductor from a “hold” rating to a “sell” rating in a research note on Monday. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $3.50.

GCT Semiconductor Stock Up 2.3%

Shares of GCT Semiconductor stock opened at $1.98 on Thursday. The business has a 50 day moving average of $2.36 and a 200 day moving average of $1.89. GCT Semiconductor Holding, Inc. has a 52 week low of $0.95 and a 52 week high of $3.93. The company has a market cap of $181.64 million, a PE ratio of -2.47 and a beta of 1.81.

GCT Semiconductor (NYSE:GCTS) last released 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 company had revenue of $0.97 million for the quarter, compared to analyst estimates of $3.30 million. On average, research analysts anticipate that GCT Semiconductor Holding, Inc. will post -0.69 earnings per share for the current 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.