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

GCT Semiconductor Holding, Inc. (NYSE:GCTS) was the target of a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 725,900 shares, a decline of 9.8% from the September 30th total of 804,900 shares. Approximately 2.4% of the shares of the company are short sold. Based on an average daily volume of 352,100 shares, the short-interest ratio is presently 2.1 days.

Analysts Set New Price Targets

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

GCT Semiconductor Trading Down 6.5 %

GCT Semiconductor stock traded down $0.16 during trading hours on Thursday, hitting $2.31. The stock had a trading volume of 176,404 shares, compared to its average volume of 458,303. The company has a 50-day moving average of $2.71 and a two-hundred day moving average of $4.06. GCT Semiconductor has a fifty-two week low of $2.26 and a fifty-two week high of $56.00.

GCT Semiconductor (NYSE:GCTS) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.02) EPS for the quarter. The business had revenue of $1.47 million during the quarter. As a group, equities analysts forecast that GCT Semiconductor will post -0.31 EPS for the current year.

Insider Buying and Selling

In other GCT Semiconductor news, major shareholder Anapass, Inc. acquired 741,603 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was acquired at an average price of $3.02 per share, with a total value of $2,239,641.06. Following the transaction, the insider now owns 8,017,466 shares of the company’s stock, valued at approximately $24,212,747.32. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.21% of the stock is owned by insiders.

Hedge Funds 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 position in GCT Semiconductor Holding, Inc. (NYSE:GCTS) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 17,161 shares of the company’s stock, valued at approximately $89,000. Institutional investors and hedge funds 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.