Caisse de depot et placement du Quebec Acquires New Position in GCT Semiconductor Holding, Inc. $GCTS

Caisse de depot et placement du Quebec acquired a new stake in GCT Semiconductor Holding, Inc. (NYSE:GCTS) during the 2nd quarter, HoldingsChannel reports. The firm acquired 676,110 shares of the company’s stock, valued at approximately $63,919,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GCTS. XTX Topco Ltd acquired a new stake in shares of GCT Semiconductor during the 4th quarter valued at $26,000. Engineers Gate Manager LP purchased a new position in shares of GCT Semiconductor during the 2nd quarter valued at $37,000. Blair William & Co. IL acquired a new position in shares of GCT Semiconductor in the third quarter worth $47,000. Bridgeway Capital Management LLC purchased a new stake in shares of GCT Semiconductor during the third quarter worth $76,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of 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 acquiring an additional 25,535 shares in the last quarter. Hedge funds and other institutional investors own 28.06% of the company’s stock.

GCT Semiconductor Stock Up 1.9%

GCTS stock opened at $1.92 on Friday. The company has a market capitalization of $176.12 million, a price-to-earnings ratio of -2.39 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 firm has a 50 day moving average of $2.26 and a two-hundred day moving average of $1.92.

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

Analyst Ratings Changes

A number of analysts recently issued reports on GCTS shares. Weiss Ratings reissued a “sell (d-)” rating on shares of GCT Semiconductor in a research report 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 issued a Sell rating to the company. Based on data from MarketBeat.com, GCT Semiconductor presently has a consensus rating of “Hold” and an average price target of $3.50.

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.