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

by · The Cerbat Gem

GCT Semiconductor Holding, Inc. (NYSE:GCTS – Get Free Report) was the recipient of a significant growth in short interest during the month of January. As of January 30th, there was short interest totaling 6,361,212 shares, a growth of 242.5% from the January 15th total of 1,857,151 shares. Currently, 11.8% of the shares of the stock are sold short. Based on an average trading volume of 18,668,270 shares, the short-interest ratio is currently 0.3 days. Based on an average trading volume of 18,668,270 shares, the short-interest ratio is currently 0.3 days. Currently, 11.8% of the shares of the stock are sold short.

Insider Activity at GCT Semiconductor

In other news, Director Hyunsoo Shin acquired 25,453 shares of GCT Semiconductor stock in a transaction that occurred on Thursday, November 20th. The stock was purchased at an average cost of $1.28 per share, with a total value of $32,579.84. Following the purchase, the director owned 737,866 shares in the company, valued at $944,468.48. This trade represents a 3.57% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased 45,358 shares of company stock worth $58,058 in the last three months. 5.40% of the stock is currently owned by insiders.

Institutional Trading of GCT Semiconductor

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted 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 increased 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 buying an additional 17,867 shares during the period. Jane Street Group LLC acquired a new stake in GCT Semiconductor during the 2nd quarter worth approximately $246,000. State Street Corp lifted its holdings in GCT Semiconductor by 8.9% during the 4th 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, Goldman Sachs Group Inc. boosted its position in GCT Semiconductor by 57.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 69,917 shares of the company’s stock valued at $115,000 after buying an additional 25,535 shares during the period. 28.06% of the stock is currently owned by hedge funds and other institutional investors.

GCT Semiconductor Stock Performance

Shares of GCTS stock traded up $0.04 during trading hours on Friday, hitting $1.28. The company had a trading volume of 2,771,169 shares, compared to its average volume of 10,476,602. GCT Semiconductor has a fifty-two week low of $0.90 and a fifty-two week high of $2.47. The company’s fifty day moving average is $1.21 and its 200 day moving average is $1.34.

GCT Semiconductor (NYSE:GCTS – Get Free Report) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.06). The firm had revenue of $0.43 million during the quarter, compared to analyst estimates of $1.20 million. As a group, equities research analysts predict that GCT Semiconductor will post -0.3 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. HC Wainwright reiterated a “buy” rating and set a $3.00 price objective on shares of GCT Semiconductor in a research report on Tuesday, January 13th. B. Riley Financial reduced their price target on GCT Semiconductor from $4.50 to $4.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Two 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, the company currently has an average rating of “Hold” and an average target price of $3.50.

Check Out Our Latest Analysis on GCTS

About GCT Semiconductor

(Get Free Report)

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.

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