GCT Semiconductor Holding, Inc. (NYSE:GCTS) Major Shareholder Buys $2,239,641.06 in Stock

GCT Semiconductor Holding, Inc. (NYSE:GCTS) major shareholder Anapass, Inc. bought 741,603 shares of GCT Semiconductor stock in a transaction that occurred on 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 purchase, the insider now owns 8,017,466 shares of the company’s stock, valued at approximately $24,212,747.32. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

GCT Semiconductor Trading Up 0.9 %

NYSE GCTS opened at $3.23 on Monday. GCT Semiconductor Holding, Inc. has a twelve month low of $2.35 and a twelve month high of $56.00. The company has a 50-day simple moving average of $3.37.

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

Analysts Set New Price Targets

Separately, B. Riley began coverage on GCT Semiconductor in a research report on Wednesday, August 28th. They issued a “buy” rating and a $8.00 target price for the company.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in GCT Semiconductor stock. Rhumbline Advisers bought a new position in shares of GCT Semiconductor Holding, Inc. (NYSE:GCTS) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 7,123 shares of the company’s stock, valued at approximately $37,000. Institutional investors own 28.06% of the company’s stock.

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.