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

GCT Semiconductor Holding, Inc. (NYSE:GCTS - Get Free Report) saw a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 658,200 shares, a decline of 9.3% from the October 15th total of 725,900 shares. Currently, 2.2% of the shares of the stock are short sold. Based on an average daily volume of 358,400 shares, the short-interest ratio is currently 1.8 days.

GCT Semiconductor Price Performance

Shares of GCTS stock traded down $0.08 during trading hours on Tuesday, reaching $2.26. 352,373 shares of the stock were exchanged, compared to its average volume of 441,126. GCT Semiconductor has a 12-month low of $2.12 and a 12-month high of $56.00. The company's 50-day moving average price is $2.67 and its 200-day moving average price is $3.84.

Insider Buying and Selling

In related news, major shareholder Anapass, Inc. acquired 741,603 shares of GCT Semiconductor stock in a transaction on Thursday, September 26th. The shares were bought at an average cost of $3.02 per share, with a total value of $2,239,641.06. Following the completion of the purchase, the insider now directly owns 8,017,466 shares of the company's stock, valued at $24,212,747.32. The trade was a 10.19 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.21% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Barclays PLC increased its position in shares of GCT Semiconductor by 321.3% during the third quarter. Barclays PLC now owns 10,799 shares of the company's stock worth $36,000 after acquiring an additional 8,236 shares during the period. Rhumbline Advisers bought a new stake in GCT Semiconductor during the 2nd quarter valued at $37,000. Bank of New York Mellon Corp purchased a new stake in shares of GCT Semiconductor in the 2nd quarter worth $89,000. FMR LLC bought a new position in shares of GCT Semiconductor during the 3rd quarter worth $134,000. Finally, Charles Schwab Investment Management Inc. increased its stake 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 buying an additional 25,183 shares during the period. Institutional investors own 28.06% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, B. Riley assumed coverage on GCT Semiconductor in a research report on Wednesday, August 28th. They set a "buy" rating and a $8.00 target price on the 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.