GCT Semiconductor Holding, Inc. (NYSE:GCTS) Major Shareholder Anapass, Inc. Purchases 741,603 Shares

GCT Semiconductor Holding, Inc. (NYSE:GCTS) major shareholder Anapass, Inc. bought 741,603 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was purchased at an average cost of $3.02 per share, with a total value of $2,239,641.06. Following the completion of the transaction, the insider now directly owns 8,017,466 shares in the company, valued at $24,212,747.32. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

GCT Semiconductor Stock Performance

GCTS stock opened at $3.23 on Friday. GCT Semiconductor Holding, Inc. has a twelve month low of $2.35 and a twelve month high of $56.00. The firm has a 50 day moving average of $3.37.

GCT Semiconductor (NYSE:GCTS) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.02) earnings per share (EPS) for the quarter. The business had revenue of $1.47 million for the quarter. Equities research analysts anticipate that GCT Semiconductor Holding, Inc. will post -0.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, B. Riley started coverage on shares of GCT Semiconductor in a research note on Wednesday, August 28th. They set a “buy” rating and a $8.00 price target for the company.

Institutional Investors Weigh In On GCT Semiconductor

An institutional investor recently bought a new position in GCT Semiconductor stock. Bank of New York Mellon Corp bought a new stake in GCT Semiconductor Holding, Inc. (NYSE:GCTS) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 17,161 shares of the company’s stock, valued at approximately $89,000. 28.06% of the stock is owned by hedge funds and other institutional investors.

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.