GCT Semiconductor Holding, Inc. (NYSE:GCTS) Short Interest Down 19.6% in March

GCT Semiconductor Holding, Inc. (NYSE:GCTS) was the recipient of a significant drop in short interest during the month of March. As of March 13th, there was short interest totaling 2,169,417 shares, a drop of 19.6% from the February 26th total of 2,699,716 shares. Based on an average daily volume of 1,094,648 shares, the short-interest ratio is presently 2.0 days. Currently, 3.2% of the shares of the company are sold short.

Institutional Trading of GCT Semiconductor

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of GCT Semiconductor by 3.3% during the third quarter. Vanguard Group Inc. now owns 1,583,800 shares of the company’s stock worth $2,407,000 after purchasing an additional 50,799 shares in the last quarter. Geode Capital Management LLC boosted its stake in GCT Semiconductor by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 414,944 shares of the company’s stock worth $498,000 after purchasing an additional 17,867 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of GCT Semiconductor during the second quarter worth $246,000. State Street Corp grew its holdings in shares of GCT Semiconductor by 8.9% during the fourth quarter. State Street Corp now owns 144,689 shares of the company’s stock worth $174,000 after buying an additional 11,800 shares in the last quarter. Finally, Bridgeway Capital Management LLC raised its position in shares of GCT Semiconductor by 50.0% in the fourth quarter. Bridgeway Capital Management LLC now owns 75,000 shares of the company’s stock valued at $90,000 after buying an additional 25,000 shares during the last quarter. 28.06% of the stock is owned by institutional investors and hedge funds.

GCT Semiconductor Trading Down 0.4%

NYSE GCTS opened at $1.12 on Monday. GCT Semiconductor has a twelve month low of $0.90 and a twelve month high of $2.47. The stock has a market capitalization of $80.80 million, a price-to-earnings ratio of -1.38 and a beta of 1.23. The stock has a 50-day moving average of $1.18 and a 200 day moving average of $1.31.

GCT Semiconductor (NYSE:GCTS) last issued its quarterly earnings results on Wednesday, March 25th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.07. The company had revenue of $0.76 million during the quarter, compared to analysts’ expectations of $0.96 million. Equities analysts predict that GCT Semiconductor will post -0.3 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a “buy” rating and set a $3.00 price objective on shares of GCT Semiconductor in a research note on Tuesday, January 13th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.50.

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. It also develops and sells cellular IoT chipsets for low-speed mobile networks such as eMTC/NB-IOT/Sigfox, and other network protocols; and 5G solutions. Its products and solutions are used in smartphones, tablets, hotspots, CPEs, USB dongles, routers, and M2M applications.