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GCT Semiconductor Holding
(NYSE:GCTS)
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Rating:45Neutral
Price Target:
$1.50
▼(-18.48% Downside)
Action:Reiterated
Date:10/23/26
The score is held down primarily by very weak financial performance (losses, negative margins, negative equity, and sustained cash burn). Technicals also remain bearish with the stock trading below key moving averages, partially offset by oversold readings. The earnings call adds some support via improving shipment momentum and secured capacity, but near-term profitability and funding pressures keep the overall score low.
Positive Factors
Diversified Commercial Pipeline
Coverage across broadband, satellite, IoT, industrial, aviation, and defense applications broadens the company’s addressable market. This diversification can reduce dependence on any single product or customer program and creates multiple potential paths to sustained chipset adoption.
Negative Factors
Severely Weak Profitability and Unit Economics
Revenue remains far below the cost base, while negative gross margin shows that current sales are not covering product costs. Persistent large losses and deteriorating unit economics limit internal funding capacity and make successful commercialization ramps essential to achieving sustainable profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified Commercial Pipeline
Coverage across broadband, satellite, IoT, industrial, aviation, and defense applications broadens the company’s addressable market. This diversification can reduce dependence on any single product or customer program and creates multiple potential paths to sustained chipset adoption.
Read all positive factors
GCT Semiconductor Holding (GCTS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$113.12M
Dividend YieldN/A
Average Volume (3M)1.64M
Price to Earnings (P/E)―
Beta (1Y)1.79
Revenue Growth-32.83%
EPS Growth-19.93%
CountryUS
Employees126
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)-0.81
Shares Outstanding91,969,730
10 Day Avg. Volume1,924,959
30 Day Avg. Volume1,637,774
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)-0.76
Price to Sales (P/S)22.14
P/FCF Ratio-1.92
Enterprise Value/Market Cap2.39
Enterprise Value/Revenue66.33
Enterprise Value/Gross Profit-173.22
Enterprise Value/Ebitda-8.36
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.57
Revenue Forecast (FY)$9.54M
GCT Semiconductor Holding Business Overview & Revenue Model
Company Description
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, includ...
How the Company Makes Money
GCT Semiconductor Holding primarily makes money by selling semiconductor products and associated technology that enable LTE/mobile broadband connectivity. Key revenue streams include: (1) Sales of modem/baseband chipsets and related connectivity i...
GCT Semiconductor Holding Earnings Call Summary
Earnings Call Date:Aug 10, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 12, 2026
Earnings Call Sentiment Neutral
The call conveys meaningful operational progress—notably a 71% sequential increase in 5G chipset shipments, diversification across three strategic market pillars, a new UAV/defense customer, secured wafer capacity through Q1 2027, and $30.2M in cash—providing a foundation for commercialization. However, financial performance shows near-term challenges: an 8% revenue decline to $1.0M, a negative gross margin driven by a 49% increase in cost of revenues, a widened net loss to $20.4M (including a $12.3M non-cash warrant loss), and elevated near-term cash burn (estimated $9.0M–$9.5M/quarter) due to prepayments. Management emphasizes customer engagement and future ramps but timing uncertainty from deployment shifts and the current weak revenue base balance the positive operational signals.Positive Updates
Strong Sequential 5G Shipments Growth
Shipped more than 5.1k 5G chipsets in Q2, representing approximately 71% sequential growth versus Q1, indicating accelerating customer integration, certification, and early deployments.
Negative Updates
Quarterly Revenue Decline
Net revenues decreased $0.2M or 8% year-over-year from $1.2M to $1.0M for the quarter, driven by a decline in service revenues despite growth in 5G product sales.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Sequential 5G Shipments Growth
Shipped more than 5.1k 5G chipsets in Q2, representing approximately 71% sequential growth versus Q1, indicating accelerating customer integration, certification, and early deployments.
Read all positive updates
Company Guidance
The company guided that commercialization will accelerate in the second half of 2026 (H2 shipments expected to exceed H1) after shipping >5.1k 5G chipsets in Q2 (≈71% sequential growth) to primarily four customers, and said it has secured wafer/production capacity for the remainder of 2026 and through Q1 2027; liquidity and capital plans include $30.2M cash, net AR $1.1M, net inventory $1.5M, access to an ATM program expanded to $120M (from $75M) with a $200M shelf, and the ability to adjust wafer payments if ramps slip. Financials/near-term expectations noted: Q2 revenue $1.0M (down $200k, -8% YoY), cost of net revenues $1.2M (+$400k, +49%), negative Q2 gross margin (vs. 32% prior year), R&D $3.3M, S&M ~$1.0M, G&A $2.8M, net loss $20.4M (up $8.1M, including $12.3M warrant fair‑value loss), adjusted EBITDA loss $6.6M (improved $0.1M), and quarterly cash‑burn guidance of ~$8–8.5M normalized or ~$9–9.5M under tight supply‑chain prepayment conditions (Q2 was impacted by ~$7–7.5M of prepayments).GCT Semiconductor Holding Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
8
Very Negative
Cash Flow
14
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.08M | 2.87M | 9.13M | 16.03M | 16.67M | 25.52M |
| Gross Profit | -1.56M | -1.82M | 5.08M | 6.73M | 5.05M | 8.16M |
| EBITDA | -32.36M | -35.09M | -6.74M | -13.89M | -21.38M | -20.63M |
| Net Income | -53.11M | -43.37M | -12.38M | -22.47M | -26.41M | -26.81M |
Balance Sheet | ||||||
| Total Assets | 49.83M | 15.64M | 19.90M | 16.43M | 16.48M | 16.78M |
| Cash, Cash Equivalents and Short-Term Investments | 30.23M | 590.00K | 1.44M | 258.00K | 1.40M | 1.25M |
| Total Debt | 347.00K | 63.36M | 43.45M | 80.07M | 70.34M | 85.51M |
| Total Liabilities | 101.85M | 98.94M | 79.21M | 131.87M | 111.41M | 505.06M |
| Stockholders Equity | -52.02M | -83.29M | -59.31M | -115.44M | -94.93M | -488.29M |
Cash Flow | ||||||
| Free Cash Flow | -40.66M | -33.09M | -31.50M | -9.16M | -18.99M | -18.38M |
| Operating Cash Flow | -38.07M | -30.68M | -30.96M | -8.83M | -18.09M | -17.74M |
| Investing Cash Flow | -2.59M | -2.41M | -542.00K | -331.00K | -903.00K | -637.00K |
| Financing Cash Flow | 70.11M | 32.25M | 36.47M | 8.15M | 19.27M | 10.57M |
GCT Semiconductor Holding Technical Analysis
Negative
1.84
Price Trends
1.90
Negative
2.14
Negative
1.82
Negative
Market Momentum
-0.19
Positive
19.87
Positive
1.36
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GCTS, the sentiment is Negative. The current price of 1.84 is above the 20-day moving average (MA) of 1.82, below the 50-day MA of 1.90, and above the 200-day MA of 1.82, indicating a bearish trend. The MACD of -0.19 indicates Positive momentum. The RSI at 19.87 is Positive, neither overbought nor oversold. The STOCH value of 1.36 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GCTS.
GCT Semiconductor Holding Risk Analysis
GCT Semiconductor Holding disclosed 53 risk factors in its most recent earnings report. GCT Semiconductor Holding reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
GCT Semiconductor Holding Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
59 Neutral | $31.40M | 0.48 | 434.73% | ― | ― | ― | |
58 Neutral | $182.77M | 111.68 | 1.50% | 3.31% | 5.44% | ― | |
48 Neutral | $36.09M | -2.90 | 9999.00% | ― | -9.48% | -25.45% | |
45 Neutral | $113.12M | -1.52 | 73.41% | ― | -32.83% | -19.93% | |
45 Neutral | $90.16M | -2.82 | -12.72% | ― | -18.29% | 8.69% |
* Technology Sector Average
GCTS
GCT Semiconductor Holding
1.23
-0.22
-15.17%
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GCT Semiconductor Holding Corporate Events
Executive/Board ChangesShareholder Meetings
GCT Semiconductor Stockholders Approve Directors and Auditor at Meeting
Positive
Sep 18, 2026
GCT Semiconductor Holding, Inc. held its 2026 Annual Meeting of Stockholders on September 17, 2026, where investors considered governance and oversight matters central to the company’s corporate structure. The meeting outcomes reinforced exi...
Business Operations and StrategyExecutive/Board Changes
GCT Semiconductor Aligns Executive Pay With Performance Goals
Positive
Sep 15, 2026
On September 10, 2026, GCT Semiconductor Holding, Inc.’s compensation committee approved an executive incentive bonus plan covering the second half of 2026, tying cash bonuses for top officers to both company revenue targets and individual K...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.