GCT Semiconductor Holding, Inc. (NYSE:GCTS) Short Interest Update

GCT Semiconductor Holding, Inc. (NYSE:GCTS) saw a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 658,200 shares, a decrease of 9.3% from the October 15th total of 725,900 shares. Based on an average daily trading volume, of 358,400 shares, the short-interest ratio is currently 1.8 days. Currently, 2.2% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Separately, B. Riley assumed coverage on GCT Semiconductor in a research report on Wednesday, August 28th. They set a “buy” rating and a $8.00 price objective on the stock.

Insider Transactions at GCT Semiconductor

In related news, major shareholder Anapass, Inc. acquired 741,603 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was bought at an average price of $3.02 per share, with a total value of $2,239,641.06. Following the acquisition, the insider now owns 8,017,466 shares in the company, valued at $24,212,747.32. This represents a 10.19 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On GCT Semiconductor

Large investors have recently modified their holdings of the business. Rhumbline Advisers acquired a new stake in GCT Semiconductor in the second quarter valued at $37,000. Barclays PLC grew its position in shares of GCT Semiconductor by 321.3% in the 3rd quarter. Barclays PLC now owns 10,799 shares of the company’s stock valued at $36,000 after buying an additional 8,236 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of GCT Semiconductor by 2.0% in the third quarter. Geode Capital Management LLC now owns 423,584 shares of the company’s stock valued at $1,419,000 after buying an additional 8,458 shares during the period. State Street Corp raised its position in shares of GCT Semiconductor by 10.9% during the third quarter. State Street Corp now owns 150,095 shares of the company’s stock worth $503,000 after acquiring an additional 14,786 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of GCT Semiconductor in the second quarter worth approximately $89,000. Institutional investors own 28.06% of the company’s stock.

GCT Semiconductor Stock Down 6.8 %

NYSE GCTS traded down $0.16 during trading hours on Tuesday, reaching $2.18. The company’s stock had a trading volume of 215,092 shares, compared to its average volume of 440,479. GCT Semiconductor has a 52 week low of $2.18 and a 52 week high of $56.00. The firm has a fifty day simple moving average of $2.68 and a 200-day simple moving average of $3.86.

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.