Charles Schwab Investment Management Inc. Increases Position in GCT Semiconductor Holding, Inc. (NYSE:GCTS)

Charles Schwab Investment Management Inc. raised its position in shares of GCT Semiconductor Holding, Inc. (NYSE:GCTS) by 141.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 42,932 shares of the company’s stock after buying an additional 25,183 shares during the period. Charles Schwab Investment Management Inc.’s holdings in GCT Semiconductor were worth $144,000 at the end of the most recent quarter.

Separately, Bank of New York Mellon Corp purchased a new position in GCT Semiconductor during the 2nd quarter valued at about $89,000. 28.06% of the stock is currently owned by institutional investors.

GCT Semiconductor Stock Down 10.0 %

Shares of GCTS opened at $2.24 on Friday. GCT Semiconductor Holding, Inc. has a fifty-two week low of $2.12 and a fifty-two week high of $56.00. The firm’s 50 day moving average price is $2.51 and its 200 day moving average price is $3.39.

Insiders Place Their Bets

In other news, major shareholder Anapass, Inc. bought 741,603 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were purchased 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 owns 8,017,466 shares of the company’s stock, valued at approximately $24,212,747.32. This represents a 10.19 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Separately, B. Riley initiated coverage on shares of GCT Semiconductor in a research note on Wednesday, August 28th. They set a “buy” rating and a $8.00 price target on the stock.

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.