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GCT Semiconductor Holding
(NYSE:GCTS)
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Rating:50Neutral
Price Target:
$2.50
▲(92.31% Upside)
Action:Reiterated
Date:06/19/26
The score is held down primarily by weak financial performance—negative gross profit, very large losses relative to revenue, significant cash burn, and negative equity—despite a notable TTM revenue rebound. Technical indicators are comparatively supportive with strong momentum above major moving averages, while valuation remains constrained by ongoing losses and the lack of dividend yield data.
Positive Factors
Asset-light fabless model & design-win revenue
Operating as a fabless semiconductor supplier with revenue from chip shipments, licensing/NRE and program repeat orders is a durable business model. It reduces capital intensity, lets management focus on R&D and IP, and enables scalable revenue per design win as customers ramp device production over months to years.
Negative Factors
Negative gross profit
Negative gross profit means product costs and associated manufacturing/packaging/test expenses exceed revenue. This is a fundamental structural issue: until yields, pricing, or cost structure improve, the company cannot generate sustainable operating profits regardless of revenue growth, constraining long-term viability.
Read all positive and negative factors
Positive Factors
Negative Factors
Asset-light fabless model & design-win revenue
Operating as a fabless semiconductor supplier with revenue from chip shipments, licensing/NRE and program repeat orders is a durable business model. It reduces capital intensity, lets management focus on R&D and IP, and enables scalable revenue per design win as customers ramp device production over months to years.
Read all positive factors
GCT Semiconductor Holding (GCTS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$227.41M
Dividend YieldN/A
Average Volume (3M)5.13M
Price to Earnings (P/E)―
Beta (1Y)1.54
Revenue Growth-32.54%
EPS Growth-89.88%
CountryUS
Employees126
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)-0.82
Shares Outstanding90,963,010
10 Day Avg. Volume2,469,125
30 Day Avg. Volume5,129,846
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 Cap0.90
Enterprise Value/Revenue47.50
Enterprise Value/Gross Profit-212.69
Enterprise Value/Ebitda-5.78
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.37
Revenue Forecast (FY)$26.01M
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 makes money primarily by selling its wireless communication semiconductor products (e.g., cellular modem/SoC chipsets and related connectivity IC solutions) to equipment manufacturers and module makers that incorporate th...
GCT Semiconductor Holding Earnings Call Summary
Earnings Call Date:May 20, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 19, 2026
Earnings Call Sentiment Positive
The call conveyed clear early-stage commercial progress with notable quarter-over-quarter and year-over-year improvements: 5G chipset shipments rose 58% sequentially, revenue grew 287% year-over-year, and gross margin expanded significantly to 49%. The company secured a strategic reference platform agreement with a major satellite provider and broadened customer distribution, and it has access to capital programs to support growth. Offsetting these positives are modest absolute revenue and cash balances, a portion of Q1 revenue driven by a one-time licensing recognition, anticipated normalization of gross margins as product mix changes, and a planned operating expense ramp to roughly $8M per quarter starting in Q3 — all of which raise near-term cash burn and timing risk. On balance, the call points to meaningful momentum but also highlights early-stage risks that management plans to mitigate through disciplined execution and financing options.Positive Updates
Rapid 5G Chipset Shipment Growth
Delivered 3,000 5G chipsets in Q1 2026, a sequential increase of 58% versus Q4, indicating customers moving from testing into initial deployments and early commercial traction.
Negative Updates
Absolute Revenue and Cash Levels Remain Modest
Despite strong percentage growth, absolute Q1 revenue was only $1.9M and cash on hand was $7.2M, leaving execution dependent on continued top-line growth and access to capital to support ramp.
Read all updates
Q1-2026 Updates
Positive
Negative
Rapid 5G Chipset Shipment Growth
Delivered 3,000 5G chipsets in Q1 2026, a sequential increase of 58% versus Q4, indicating customers moving from testing into initial deployments and early commercial traction.
Read all positive updates
Company Guidance
The company guided that 5G chipset commercialization should see continued sequential shipment growth (Q1 shipped 3,000 chipsets, +58% sequentially) with initial shipments to a major satellite partner on track to begin in H2 2026; gross margin is expected to normalize to the high‑30s to low‑40s (product margins ~35% initially, growing into the low‑40s) as product revenue overtakes services; operating spend will ramp in H2 with R&D increasing and a targeted quarterly operating expense run‑rate of about $8.0 million beginning in Q3; near‑term financials cited: Q1 revenue $1.9M (+$1.4M, +287% YoY) comprising +$0.4M product and +$1.0M services, cost of net revenue $1.0M (+$0.6M, +138%), gross margin ~49%, R&D $3.2M (-$0.9M, -23%), S&M $1.2M, G&A $2.7M; liquidity includes $7.2M cash, $2.4M receivables, $1.6M inventory, access to an ATM up to $75M and $125M remaining capacity on a $200M S‑3 shelf.GCT Semiconductor Holding Financial Statement Overview
Summary
Income Statement
9
Very Negative
Balance Sheet
12
Very Negative
Cash Flow
8
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.29M | 2.87M | 9.13M | 16.03M | 16.67M | 25.52M |
| Gross Profit | -958.00K | -1.82M | 5.08M | 6.73M | 5.05M | 8.16M |
| EBITDA | -35.23M | -35.09M | -6.74M | -13.89M | -21.38M | -20.63M |
| Net Income | -46.27M | -43.37M | -12.38M | -22.47M | -26.41M | -26.81M |
Balance Sheet | ||||||
| Total Assets | 22.38M | 15.64M | 19.90M | 16.43M | 16.48M | 353.86M |
| Cash, Cash Equivalents and Short-Term Investments | 7.18M | 590.00K | 1.44M | 258.00K | 1.40M | 1.21M |
| Total Debt | 58.22M | 63.36M | 43.45M | 80.07M | 70.34M | 5.49M |
| Total Liabilities | 96.31M | 98.94M | 79.21M | 131.87M | 111.41M | 36.53M |
| Stockholders Equity | -73.94M | -83.29M | -59.31M | -115.44M | -94.93M | 317.32M |
Cash Flow | ||||||
| Free Cash Flow | -32.51M | -33.09M | -31.50M | -9.16M | -18.99M | -18.38M |
| Operating Cash Flow | -30.15M | -30.68M | -30.96M | -8.83M | -18.09M | -17.74M |
| Investing Cash Flow | -2.36M | -2.41M | -542.00K | -331.00K | -903.00K | -637.00K |
| Financing Cash Flow | 38.69M | 32.25M | 36.47M | 8.15M | 19.27M | 10.57M |
GCT Semiconductor Holding Technical Analysis
Neutral
1.30
Price Trends
2.47
Negative
1.85
Positive
1.59
Positive
Market Momentum
-0.02
Positive
46.29
Neutral
22.63
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GCTS, the sentiment is Neutral. The current price of 1.3 is below the 20-day moving average (MA) of 2.63, below the 50-day MA of 2.47, and below the 200-day MA of 1.59, indicating a neutral trend. The MACD of -0.02 indicates Positive momentum. The RSI at 46.29 is Neutral, neither overbought nor oversold. The STOCH value of 22.63 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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% | |
58 Neutral | $39.39M | 0.62 | -2573.87% | ― | -38.72% | 16.01% | |
54 Neutral | $78.82M | -10.37 | -15.69% | ― | 62.79% | 60.33% | |
53 Neutral | $182.06M | 312.28 | 0.57% | ― | -5.04% | ― | |
50 Neutral | $227.41M | -3.00 | 60.21% | ― | -32.54% | -89.88% | |
46 Neutral | $134.32M | -6.03 | -10.13% | ― | -20.64% | 44.67% | |
46 Neutral | $44.11M | 2.15 | -16.83% | ― | -33.13% | ― |
* Technology Sector Average
GCTS
GCT Semiconductor Holding
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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.