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

GCT Semiconductor Holding, Inc. (NYSE:GCTS) saw a large growth in short interest in September. As of September 15th, there was short interest totalling 1,090,000 shares, a growth of 5.8% from the August 31st total of 1,030,000 shares. Based on an average daily volume of 384,900 shares, the short-interest ratio is presently 2.8 days. Currently, 3.6% of the shares of the stock are sold short.

Insider Activity

In other news, major shareholder Anapass, Inc. bought 741,603 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was acquired at an average price of $3.02 per share, for a total transaction of $2,239,641.06. Following the transaction, the insider now directly owns 8,017,466 shares of the company’s stock, valued at approximately $24,212,747.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is owned by corporate 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 disclosure 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 Trading Down 10.4 %

GCTS opened at $3.00 on Wednesday. The stock has a fifty day moving average price of $3.30. GCT Semiconductor has a twelve month low of $2.35 and a twelve month high of $56.00.

GCT Semiconductor (NYSE:GCTS) last posted its earnings results on Wednesday, August 14th. The company reported ($0.02) earnings per share for the quarter. The business had revenue of $1.47 million during the quarter. Research analysts predict that GCT Semiconductor will post -0.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.