Short Interest in GCT Semiconductor Holding, Inc. (NYSE:GCTS) Expands By 5.8%

GCT Semiconductor Holding, Inc. (NYSE:GCTS) saw a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 1,090,000 shares, a growth of 5.8% from the August 31st total of 1,030,000 shares. Approximately 3.6% of the shares of the company are short sold. Based on an average daily volume of 384,900 shares, the short-interest ratio is presently 2.8 days.

Insiders Place Their Bets

In other GCT Semiconductor news, major shareholder Anapass, Inc. purchased 741,603 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was acquired at an average cost of $3.02 per share, with a total value of $2,239,641.06. Following the acquisition, the insider now owns 8,017,466 shares of the company’s stock, valued at approximately $24,212,747.32. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.21% of the stock is owned by corporate insiders.

Institutional Trading of GCT Semiconductor

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

Wall Street Analysts Forecast Growth

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

GCT Semiconductor Stock Performance

Shares of GCT Semiconductor stock traded down $0.35 during trading on Tuesday, hitting $3.00. 258,779 shares of the stock were exchanged, compared to its average volume of 497,765. GCT Semiconductor has a 12 month low of $2.35 and a 12 month high of $56.00. The company has a fifty day moving average of $3.34.

GCT Semiconductor (NYSE:GCTS) last posted its earnings results on Wednesday, August 14th. The company reported ($0.02) EPS for the quarter. The business had revenue of $1.47 million for the quarter. As a group, sell-side analysts forecast that GCT Semiconductor will post -0.31 earnings per share for the current 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.