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

GCT Semiconductor Holding, Inc. (NYSE:GCTS) saw a significant decline in short interest in 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. Currently, 2.4% of the company’s shares are short sold. Based on an average daily volume of 352,100 shares, the short-interest ratio is presently 2.1 days.

Insider Transactions at GCT Semiconductor

In related news, major shareholder Anapass, Inc. bought 741,603 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were bought 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is owned by insiders.

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

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

GCT Semiconductor Stock Performance

Shares of GCTS stock traded down $0.16 on Thursday, reaching $2.31. 176,404 shares of the company’s stock traded hands, compared to its average volume of 458,303. GCT Semiconductor has a 12-month low of $2.26 and a 12-month high of $56.00. The business’s 50 day moving average price is $2.71 and its two-hundred day moving average price is $4.06.

GCT Semiconductor (NYSE:GCTS) last issued its 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. On average, sell-side analysts predict that GCT Semiconductor will post -0.31 earnings per share for the current fiscal year.

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.