Short Interest in GCT Semiconductor Holding, Inc. (NYSE:GCTS) Increases By 16.4%

GCT Semiconductor Holding, Inc. (NYSE:GCTS - Get Free Report) saw a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 696,000 shares, a growth of 16.4% from the November 15th total of 598,000 shares. Currently, 2.3% of the company's shares are sold short. Based on an average trading volume of 152,100 shares, the days-to-cover ratio is currently 4.6 days.

Wall Street Analysts Forecast Growth

Separately, B. Riley initiated coverage on GCT Semiconductor in a research note on Wednesday, August 28th. They set a "buy" rating and a $8.00 price objective for the company.

Insider Activity at GCT Semiconductor

In related news, major shareholder Anapass, Inc. acquired 741,603 shares of the firm's stock in a transaction on Thursday, September 26th. The stock was bought at an average price of $3.02 per share, for a total transaction 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 approximately $24,212,747.32. The trade was a 10.19 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.21% of the stock is currently owned by company insiders.

Institutional Trading of GCT Semiconductor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp acquired a new position in shares of GCT Semiconductor during the 2nd quarter valued at about $89,000. Rhumbline Advisers purchased a new position in shares of GCT Semiconductor in the 2nd quarter worth about $37,000. Barclays PLC grew its holdings in shares of GCT Semiconductor by 321.3% during the 3rd quarter. Barclays PLC now owns 10,799 shares of the company's stock worth $36,000 after purchasing an additional 8,236 shares during the period. Geode Capital Management LLC raised its holdings in GCT Semiconductor by 2.0% in the third quarter. Geode Capital Management LLC now owns 423,584 shares of the company's stock valued at $1,419,000 after buying an additional 8,458 shares during the period. Finally, State Street Corp lifted its position in GCT Semiconductor by 10.9% during the third quarter. State Street Corp now owns 150,095 shares of the company's stock valued at $503,000 after buying an additional 14,786 shares in the last quarter. Hedge funds and other institutional investors own 28.06% of the company's stock.

GCT Semiconductor Stock Performance

GCTS traded down $0.14 during midday trading on Monday, reaching $2.50. 312,453 shares of the company's stock were exchanged, compared to its average volume of 419,436. GCT Semiconductor has a 1-year low of $2.12 and a 1-year high of $56.00. The business's 50-day moving average price is $2.53 and its 200 day moving average price is $3.44.

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.