GCT Semiconductor Holding, Inc. (NYSE:GCTS) Sees Significant Decrease in Short Interest

GCT Semiconductor Holding, Inc. (NYSE:GCTS) was the recipient of a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 598,000 shares, a decline of 9.1% from the October 31st total of 658,200 shares. Based on an average trading volume of 167,400 shares, the days-to-cover ratio is currently 3.6 days. Currently, 2.0% of the shares of the company are short sold.

Analysts Set New Price Targets

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

GCT Semiconductor Trading Down 1.9 %

GCTS traded down $0.05 during trading hours on Tuesday, hitting $2.57. The company’s stock had a trading volume of 283,202 shares, compared to its average volume of 157,019. The business’s 50-day moving average price is $2.61 and its 200-day moving average price is $3.63. GCT Semiconductor has a 12 month low of $2.12 and a 12 month high of $56.00.

Insider Transactions at GCT Semiconductor

In other GCT Semiconductor news, major shareholder Anapass, Inc. acquired 741,603 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were bought at an average price of $3.02 per share, with a total value of $2,239,641.06. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On GCT Semiconductor

Large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp purchased a new stake in GCT Semiconductor in the second quarter worth about $89,000. Rhumbline Advisers purchased a new stake in shares of GCT Semiconductor during the second quarter valued at about $37,000. Charles Schwab Investment Management Inc. increased its holdings in shares of GCT Semiconductor by 141.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 42,932 shares of the company’s stock valued at $144,000 after acquiring an additional 25,183 shares in the last quarter. FMR LLC acquired a new position in shares of GCT Semiconductor during the third quarter valued at about $134,000. Finally, State Street Corp increased its holdings 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 valued at $503,000 after acquiring an additional 14,786 shares in the last quarter. Institutional investors own 28.06% of the company’s stock.

About GCT Semiconductor

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.