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

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

Wall Street Analyst Weigh In

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

Insider Transactions at GCT Semiconductor

In other news, major shareholder Anapass, Inc. acquired 741,603 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was purchased at an average price of $3.02 per share, for a total transaction 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. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.21% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in GCT Semiconductor stock. Rhumbline Advisers purchased a new position in shares of GCT Semiconductor Holding, Inc. (NYSE:GCTS) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,123 shares of the company’s stock, valued at approximately $37,000. 28.06% of the stock is owned by institutional investors.

GCT Semiconductor Stock Performance

GCTS traded down $0.35 during trading on Tuesday, reaching $3.00. The company had a trading volume of 258,779 shares, compared to its average volume of 497,765. GCT Semiconductor has a 12 month low of $2.35 and a 12 month high of $56.00. The company’s fifty day moving average price is $3.34.

GCT Semiconductor (NYSE:GCTS) last announced its quarterly 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 for the quarter. On average, sell-side analysts anticipate 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.