GCT Semiconductor (NYSE:GCTS) Stock Lifted to Hold by Wall Street Zen

GCT Semiconductor (NYSE:GCTS) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings upgraded GCT Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, October 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $3.00.

GCT Semiconductor Stock Down 17.9%

GCTS opened at $1.26 on Friday. The stock has a market cap of $116.34 million, a PE ratio of -2.01 and a beta of 1.85. GCT Semiconductor has a 52 week low of $0.95 and a 52 week high of $3.93. The business’s fifty day simple moving average is $1.73 and its 200 day simple moving average is $1.83.

Institutional Investors Weigh In On GCT Semiconductor

Hedge funds have recently made changes to their positions in the business. Commonwealth Equity Services LLC purchased a new stake in shares of GCT Semiconductor in the 3rd quarter valued at $35,000. Ground Swell Capital LLC bought a new stake in GCT Semiconductor in the third quarter worth $39,000. AXQ Capital LP bought a new stake in GCT Semiconductor in the second quarter worth $77,000. Engineers Gate Manager LP lifted its stake in GCT Semiconductor by 28.6% in the second quarter. Engineers Gate Manager LP now owns 30,248 shares of the company’s stock worth $90,000 after purchasing an additional 6,732 shares during the last quarter. Finally, Spark Investment Management LLC purchased a new stake in GCT Semiconductor during the second quarter valued at about $110,000. 28.06% of the stock is currently owned by institutional investors.

GCT Semiconductor Company Profile

GCT Semiconductor is a fabless semiconductor company that develops wireless connectivity chips and related solutions. Its products are designed for cellular applications, including 4G LTE, 5G and the Internet of Things. The company’s offerings include modem and radio-frequency technologies used in devices such as mobile broadband equipment, routers and connected products. GCT works with customers and partners that incorporate its chipsets into wireless devices and systems. Founded in 1998, GCT serves customers in the global wireless communications market.