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

GCT Semiconductor Holding, Inc. (NYSE:GCTS) was the target of a large decrease in short interest in February. As of February 27th, there was short interest totaling 2,699,716 shares, a decrease of 30.7% from the February 12th total of 3,898,424 shares. Approximately 5.0% of the shares of the stock are short sold. Based on an average daily volume of 2,303,975 shares, the short-interest ratio is currently 1.2 days. Based on an average daily volume of 2,303,975 shares, the short-interest ratio is currently 1.2 days. Approximately 5.0% of the shares of the stock are short sold.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and set a $3.00 target price on shares of GCT Semiconductor in a report on Tuesday, January 13th. Two analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, GCT Semiconductor presently has an average rating of “Hold” and an average target price of $3.50.

Institutional Trading of GCT Semiconductor

Large investors have recently modified their holdings of the business. XTX Topco Ltd bought a new position in shares of GCT Semiconductor in the fourth quarter worth approximately $26,000. Bridgeway Capital Management LLC raised its position in shares of GCT Semiconductor by 50.0% during the 4th quarter. Bridgeway Capital Management LLC now owns 75,000 shares of the company’s stock valued at $90,000 after buying an additional 25,000 shares in the last quarter. State Street Corp raised its position in shares of GCT Semiconductor by 8.9% during the 4th quarter. State Street Corp now owns 144,689 shares of the company’s stock valued at $174,000 after buying an additional 11,800 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of GCT Semiconductor by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 414,944 shares of the company’s stock worth $498,000 after acquiring an additional 17,867 shares during the last quarter. Finally, Blair William & Co. IL bought a new stake in shares of GCT Semiconductor during the 3rd quarter worth $47,000. Institutional investors own 28.06% of the company’s stock.

GCT Semiconductor Stock Performance

GCT Semiconductor stock traded up $0.01 during midday trading on Friday, hitting $1.14. 615,290 shares of the company’s stock were exchanged, compared to its average volume of 1,694,973. GCT Semiconductor has a 52-week low of $0.90 and a 52-week high of $2.47. The stock has a 50-day moving average price of $1.16 and a two-hundred day moving average price of $1.32. The company has a market cap of $64.81 million, a P/E ratio of -1.47 and a beta of 1.23.

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. It also develops and sells cellular IoT chipsets for low-speed mobile networks such as eMTC/NB-IOT/Sigfox, and other network protocols; and 5G solutions. Its products and solutions are used in smartphones, tablets, hotspots, CPEs, USB dongles, routers, and M2M applications.