GCT Semiconductor Holding, Inc. (NYSE:GCTS) Short Interest Update

GCT Semiconductor Holding, Inc. (NYSE:GCTS) was the target of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 658,200 shares, a decrease of 9.3% from the October 15th total of 725,900 shares. Based on an average daily trading volume, of 358,400 shares, the short-interest ratio is currently 1.8 days. Approximately 2.2% of the company’s shares are short sold.

Insider Buying and Selling at GCT Semiconductor

In other news, major shareholder Anapass, Inc. bought 741,603 shares of the business’s 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 acquisition, the insider now owns 8,017,466 shares of the company’s stock, valued at approximately $24,212,747.32. This trade represents a 10.19 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC increased its stake in shares of GCT Semiconductor by 321.3% during the third quarter. Barclays PLC now owns 10,799 shares of the company’s stock valued at $36,000 after purchasing an additional 8,236 shares in the last quarter. Rhumbline Advisers purchased a new stake in shares of GCT Semiconductor in the 2nd quarter worth approximately $37,000. Bank of New York Mellon Corp bought a new position in GCT Semiconductor during the 2nd quarter valued at approximately $89,000. FMR LLC bought a new stake in GCT Semiconductor in the third quarter worth $134,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of GCT Semiconductor by 141.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 42,932 shares of the company’s stock worth $144,000 after purchasing an additional 25,183 shares during the last quarter. Hedge funds and other institutional investors own 28.06% of the company’s stock.

Analyst Ratings Changes

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

GCT Semiconductor Trading Down 5.6 %

NYSE GCTS traded down $0.13 on Tuesday, hitting $2.21. The company’s stock had a trading volume of 331,964 shares, compared to its average volume of 440,885. GCT Semiconductor has a 52-week low of $2.12 and a 52-week high of $56.00. The company’s 50-day simple moving average is $2.68 and its 200 day simple moving average is $3.86.

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.