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

GCT Semiconductor Holding, Inc. (NYSE:GCTS - Get Free Report) was the target of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totalling 725,900 shares, a decrease of 9.8% from the September 30th total of 804,900 shares. Approximately 2.4% of the company's shares are short sold. Based on an average daily volume of 352,100 shares, the days-to-cover ratio is currently 2.1 days.

Wall Street Analysts Forecast Growth

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

Insider Activity at GCT Semiconductor

In related news, major shareholder Anapass, Inc. bought 741,603 shares of GCT Semiconductor stock in a transaction on Thursday, September 26th. The shares were 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 approximately $24,212,747.32. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.21% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On GCT Semiconductor

An institutional investor recently bought a new position in GCT Semiconductor stock. Rhumbline Advisers purchased a new stake in GCT Semiconductor Holding, Inc. (NYSE:GCTS - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 7,123 shares of the company's stock, valued at approximately $37,000. Institutional investors own 28.06% of the company's stock.

GCT Semiconductor Trading Down 2.8 %

Shares of NYSE GCTS traded down $0.07 during mid-day trading on Wednesday, reaching $2.47. 131,770 shares of the company's stock were exchanged, compared to its average volume of 459,712. GCT Semiconductor has a twelve month low of $2.28 and a twelve month high of $56.00. The business has a fifty day simple moving average of $2.75 and a 200 day simple moving average of $4.08.

GCT Semiconductor (NYSE:GCTS - Get Free Report) 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. Sell-side analysts anticipate that GCT Semiconductor will post -0.31 earnings per share for the current fiscal year.

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.