TECH WRECK!

GCT Semiconductor Holding

The stock went for $55 in late March and now goes for $2.18. It’s a Russell 2000 small cap component with a market capitalization of $105.97.

Third quarter earnings per share were reported as -.16 versus the one-year ago -.18. Revenue reported as $2.6 million versus $4.5 million last year.

CEO John Schaefer says “We are excited about the advancements we are making toward volume shipments of our SG chipsets, which we anticipate commencing in the first half of 2025.”

Sometimes small caps in the tech sector take their time and volatility arises but that is definitely a new low for a semiconductor that trades on the New York Stock Exchange.

MagnaChip Semiconductor

The stock in late July/early August came close to the down trending 200-day moving average, but could not go above it. From almost $6 to the present $3.67 represents a 4 month loss from top to bottom of 39%.

Based in South Korea, MagnaChip designs and manufactures analog and mixed signal semiconductor “platform solutions”, according to the company website.

Market capitalization for this New York Stock Exchange-listed security is $135 million.

Earnings this year are down by 86% and down over the past five years by 52%.

STMicroelectronics

In March the stock hit $47 and now it trades for $24.64, a drop in eight months of 48%. Note how relentlessly the 200-day moving average heads downward.

The Amsterdam-based semiconductor maker has a market cap of $21.92 billion but is not yet a component of the S&P 500. This year’s earnings are off by 63% and up over the past five years by 25.53%.

Morgan Stanley in early November downgraded their rating of STMicroelectronics from “equal weight” to “underweight.”