GCT Semiconductor Holding (GCTS)
NYSE:GCTS
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GCT Semiconductor Holding
(NYSE:GCTS)
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Rating:51Neutral
Price Target:
$1.50
▲(15.38% Upside)
Action:ReiteratedDate:05/09/26
The score is held down primarily by very weak financial performance (shrinking revenue, negative gross profit in 2025, persistent losses/cash burn, and negative equity). Technicals are supportive with price trading above major moving averages and positive momentum indicators, while valuation remains constrained by ongoing losses and no dividend. Earnings-call guidance and commercialization progress improve the outlook but are tempered by execution and liquidity risks.
Positive Factors
Strategic satellite & operator partnerships
Partnerships with a top satellite provider and a live Gogo 5G deployment materially expand GCT's addressable market beyond traditional handsets into satellite-terrestrial hybrid use cases. These design wins support durable OEM adoption, potential million‑unit annual demand, and recurring licensing/NRE opportunities that underpin longer-term revenue diversification.
Negative Factors
Severe revenue decline and negative gross profit
A dramatic multiyear revenue contraction and a negative full‑year gross margin indicate loss of scale and an inability to cover production overhead. This structural margin weakness means returning to sustained profitability will require a large, predictable volume ramp; intermittent wins may not suffice to restore durable margins quickly.
Read all positive and negative factors
Positive Factors
Negative Factors
Strategic satellite & operator partnerships
Partnerships with a top satellite provider and a live Gogo 5G deployment materially expand GCT's addressable market beyond traditional handsets into satellite-terrestrial hybrid use cases. These design wins support durable OEM adoption, potential million‑unit annual demand, and recurring licensing/NRE opportunities that underpin longer-term revenue diversification.
Read all positive factors
GCT Semiconductor Holding (GCTS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$123.24M
Dividend YieldN/A
Average Volume (3M)310.15K
Price to Earnings (P/E)―
Beta (1Y)1.28
Revenue Growth-68.60%
EPS Growth-220.58%
CountryUS
Employees121
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)-0.82
Shares Outstanding72,494,120
10 Day Avg. Volume224,357
30 Day Avg. Volume310,150
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 Cap0.73
Enterprise Value/Revenue31.53
Enterprise Value/Gross Profit-49.73
Enterprise Value/Ebitda-2.58
Forecast
1Y Price Target
$3.00Price Target Upside130.77% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.36
Revenue Forecast (FY)$27.87M
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:Mar 25, 2026
(Q4-2025)
| Next Earnings Date:May 20, 2026
Earnings Call Sentiment Neutral
The call presents a mixed but cautiously constructive picture: operationally and commercially the company achieved important 5G commercialization milestones—initial Q4 shipments (1,900+ units), a live network launch with Gogo, major satellite and Skylo partnerships, and improving sequential revenue (Q4 +76%). These strategic advances and subsequent financing materially improve runway and future revenue potential. However, the company reported a steep full-year revenue decline (-69% YoY), a negative annual gross margin, a significant G&A increase driven by a credit loss reserve, and very low year-end cash ($0.6M) before follow-on financing. Management characterizes several expense items as one-time and expects margins and volumes to improve in 2026, but timing to sustained profitability remains uncertain. Overall, positive commercial momentum is balanced by weak 2025 financials and near-term execution/financial risks.Positive Updates
Early Commercial 5G Shipments
Shipped more than 1,900 5G chipsets in Q4 2025 for commercial use, representing the start of the production ramp and real-world deployments (supporting customer testing and initial rollouts).
Negative Updates
Higher Stock-Based Compensation and Non-Recurring Charges
Stock-based compensation increased by $3.2M (from $2.0M to $5.2M) due to issuance of equity-classified warrants to investors; management described some 2025 OpEx items as one-off but they elevated operating costs in the year.
Read all updates
Q4-2025 Updates
Positive
Negative
Early Commercial 5G Shipments
Shipped more than 1,900 5G chipsets in Q4 2025 for commercial use, representing the start of the production ramp and real-world deployments (supporting customer testing and initial rollouts).
Read all positive updates
Company Guidance
Management guided that they expect sequential growth in both revenue and 5G chipset shipments throughout 2026 (Q4 shipments >1,900 chipsets; Q4 revenue increased 76% sequentially), with additional customer rollouts and a production ramp to drive volumes; they noted Q4 gross margin around ~32% and expect normalized gross margins in the high‑30s to low‑40s as product volumes mature. OpEx should normalize after one‑time 2025 charges to a run rate of roughly $8.0–$8.5M per quarter, and management cited a roughly $25M revenue level as the point for adjusted‑EBITDA breakeven (potentially around Q1 2027). Liquidity and funding posture: year‑end cash $0.6M (rising to $9.4M as of Feb‑2026), net AR $2.6M, inventory $0.9M, access to a $75M ATM program and $125M remaining on a $200M shelf, plus a $20M convertible note facility with a $1M initial draw; they expect satellite partner shipments as early as 2026 with potential million‑unit+ annual demand and reported improved testing throughput in Q1 easing prior supply limits.GCT Semiconductor Holding Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
18
Very Negative
Cash Flow
14
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.87M | 9.13M | 16.03M | 16.67M | 25.52M |
| Gross Profit | -1.82M | 5.08M | 6.73M | 5.05M | 8.16M |
| EBITDA | -35.09M | -6.74M | -13.89M | -21.38M | -20.63M |
| Net Income | -43.37M | -12.38M | -22.47M | -26.41M | -26.81M |
Balance Sheet | |||||
| Total Assets | 15.64M | 19.90M | 16.43M | 16.48M | 353.86M |
| Cash, Cash Equivalents and Short-Term Investments | 590.00K | 1.44M | 258.00K | 1.40M | 1.21M |
| Total Debt | 727.00K | 43.45M | 80.07M | 70.34M | 5.49M |
| Total Liabilities | 98.94M | 79.21M | 131.87M | 111.41M | 36.53M |
| Stockholders Equity | -83.29M | -59.31M | -115.44M | -94.93M | 317.32M |
Cash Flow | |||||
| Free Cash Flow | -33.09M | -31.50M | -9.16M | -18.99M | -18.38M |
| Operating Cash Flow | -30.68M | -30.96M | -8.83M | -18.09M | -17.74M |
| Investing Cash Flow | -2.41M | -542.00K | -331.00K | -903.00K | -637.00K |
| Financing Cash Flow | 32.25M | 36.47M | 8.15M | 19.27M | 10.57M |
GCT Semiconductor Holding Technical Analysis
Positive
1.30
Price Trends
1.22
Positive
1.23
Positive
1.33
Negative
Market Momentum
0.03
Negative
55.66
Neutral
51.14
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GCTS, the sentiment is Positive. The current price of 1.3 is above the 20-day moving average (MA) of 1.25, above the 50-day MA of 1.22, and below the 200-day MA of 1.33, indicating a neutral trend. The MACD of 0.03 indicates Negative momentum. The RSI at 55.66 is Neutral, neither overbought nor oversold. The STOCH value of 51.14 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GCTS.
GCT Semiconductor Holding Risk Analysis
GCT Semiconductor Holding disclosed 81 risk factors in its most recent earnings report. GCT Semiconductor Holding reported the most risks in the "Finance & Corporate" 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% | |
61 Neutral | $215.55M | 53.00 | 0.57% | ― | -5.04% | ― | |
51 Neutral | $123.24M | -1.76 | 58.01% | ― | -68.60% | -220.58% | |
50 Neutral | $165.08M | -5.48 | -10.13% | ― | -20.64% | 44.67% | |
50 Neutral | $83.08M | -13.63 | -15.69% | ― | 62.79% | 60.33% | |
47 Neutral | $36.45M | -2.36 | 109.22% | ― | -38.72% | 16.01% | |
43 Neutral | $38.30M | ― | -16.83% | ― | -33.13% | ― |
* Technology Sector Average
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GCT Semiconductor Holding Corporate Events
Business Operations and StrategyPrivate Placements and Financing
GCT Semiconductor Extends Convertible Note, Issues New Warrant
Positive
Feb 25, 2026
On February 24, 2026, GCT Semiconductor, Inc., a subsidiary of GCT Semiconductor Holding, Inc., amended a convertible promissory note originally issued on February 26, 2024 to a strategic investor, extending the note’s maturity to February 2...
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.