GCT Semiconductor Holding, Inc. (NYSE:GCTS) Major Shareholder Buys $2,239,641.06 in Stock

GCT Semiconductor Holding, Inc. (NYSE:GCTS) major shareholder Anapass, Inc. acquired 741,603 shares of GCT Semiconductor stock in a transaction dated Thursday, September 26th. The shares were bought at an average cost 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

GCT Semiconductor Stock Up 0.9 %

Shares of NYSE GCTS traded up $0.03 during mid-day trading on Friday, hitting $3.23. The stock had a trading volume of 133,467 shares, compared to its average volume of 500,787. The business’s 50 day moving average price is $3.41. GCT Semiconductor Holding, Inc. has a 1 year low of $2.35 and a 1 year high of $56.00.

GCT Semiconductor (NYSE:GCTS) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.02) EPS for the quarter. The firm had revenue of $1.47 million for the quarter. Equities research analysts anticipate that GCT Semiconductor Holding, Inc. will post -0.31 earnings per share for the current year.

Institutional Investors Weigh In On GCT Semiconductor

An institutional investor recently bought a new position in GCT Semiconductor stock. Rhumbline Advisers purchased a new position in GCT Semiconductor Holding, Inc. (NYSE:GCTS) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,123 shares of the company’s stock, valued at approximately $37,000. Institutional investors and hedge funds own 28.06% of the company’s stock.

Wall Street Analyst Weigh In

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

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.