Fmr LLC Takes Position in GCT Semiconductor Holding, Inc. (NYSE:GCTS)

Fmr LLC purchased a new position in GCT Semiconductor Holding, Inc. (NYSE:GCTS) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 40,054 shares of the company’s stock, valued at approximately $134,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Rhumbline Advisers purchased a new stake in GCT Semiconductor during the 2nd quarter valued at about $37,000. Bank of New York Mellon Corp purchased a new position in GCT Semiconductor in the 2nd quarter worth approximately $89,000. Finally, Charles Schwab Investment Management Inc. lifted its position in GCT Semiconductor by 141.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 42,932 shares of the company’s stock valued at $144,000 after purchasing an additional 25,183 shares during the last quarter. 28.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

GCT Semiconductor Trading Up 2.2 %

NYSE:GCTS opened at $2.29 on Monday. GCT Semiconductor Holding, Inc. has a 52 week low of $2.12 and a 52 week high of $56.00. The company’s 50 day moving average price is $2.51 and its 200-day moving average price is $3.37.

Insider Buying and Selling

In related news, major shareholder Anapass, Inc. acquired 741,603 shares of GCT Semiconductor stock in a transaction dated Thursday, September 26th. The shares were purchased at an average price of $3.02 per share, for a total transaction of $2,239,641.06. Following the completion of the transaction, the insider now directly owns 8,017,466 shares in the company, valued at approximately $24,212,747.32. This represents a 10.19 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is currently owned by corporate insiders.

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.