Jupiter Topco LLC Acquires Shares of 13,427,527 GCT Semiconductor Holding, Inc. $GCTS

Jupiter Topco LLC bought a new position in GCT Semiconductor Holding, Inc. (NYSE:GCTS) in the second quarter, HoldingsChannel reports. The fund bought 13,427,527 shares of the company’s stock, valued at approximately $1,269,474,000. Jupiter Topco LLC owned approximately 0.15% of GCT Semiconductor at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GCTS. XTX Topco Ltd bought a new stake in GCT Semiconductor during the fourth quarter valued at approximately $26,000. Engineers Gate Manager LP purchased a new position in GCT Semiconductor during the second quarter valued at $37,000. Blair William & Co. IL bought a new stake in GCT Semiconductor during the third quarter valued at about $47,000. Bridgeway Capital Management LLC bought a new position in shares of GCT Semiconductor in the third quarter worth about $76,000. Finally, Goldman Sachs Group Inc. lifted its holdings in GCT Semiconductor by 57.5% during the first quarter. Goldman Sachs Group Inc. now owns 69,917 shares of the company’s stock valued at $115,000 after purchasing 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 Down 0.8%

Shares of NYSE GCTS opened at $1.84 on Wednesday. GCT Semiconductor Holding, Inc. has a 52 week low of $0.95 and a 52 week high of $3.93. The business’s 50 day moving average price is $2.30 and its 200 day moving average price is $1.91. The firm has a market cap of $169.68 million, a P/E ratio of -2.31 and a beta of 1.81.

GCT Semiconductor (NYSE:GCTS) last released its quarterly earnings data 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 analyst estimates of $3.30 million. As a group, research analysts expect that GCT Semiconductor Holding, Inc. will post -0.69 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of GCT Semiconductor in a research report on Monday, August 3rd. Wall Street Zen lowered shares of 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 stock. According to MarketBeat, GCT Semiconductor presently has a consensus rating of “Hold” and an average target price 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.