GCT Semiconductor Holding, Inc. (NYSE:GCTS - Get Free Report) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 741,800 shares, an increase of 13.4% from the December 15th total of 654,000 shares. Based on an average trading volume of 162,400 shares, the days-to-cover ratio is currently 4.6 days. Approximately 2.5% of the company's shares are short sold.
Institutional Investors Weigh In On GCT Semiconductor
Hedge funds have recently modified their holdings of the business. Barclays PLC raised its stake in GCT Semiconductor by 321.3% in the third quarter. Barclays PLC now owns 10,799 shares of the company's stock worth $36,000 after buying an additional 8,236 shares in the last quarter. Rhumbline Advisers purchased a new position in shares of GCT Semiconductor in the 2nd quarter valued at $37,000. Bank of New York Mellon Corp bought a new position in shares of GCT Semiconductor in the 2nd quarter worth $89,000. JPMorgan Chase & Co. lifted its stake in shares of GCT Semiconductor by 488.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 27,258 shares of the company's stock worth $91,000 after purchasing an additional 22,624 shares during the last quarter. Finally, FMR LLC bought a new stake in GCT Semiconductor during the third quarter valued at about $134,000. Hedge funds and other institutional investors own 28.06% of the company's stock.
GCT Semiconductor Stock Performance
Shares of NYSE:GCTS traded up $0.06 during trading on Friday, reaching $2.52. 56,733 shares of the company were exchanged, compared to its average volume of 167,511. The business's fifty day simple moving average is $2.46 and its 200-day simple moving average is $3.08. GCT Semiconductor has a 12-month low of $2.12 and a 12-month high of $56.00.
About GCT Semiconductor
(
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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.
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