GCT Semiconductor Holding, Inc. (NYSE:GCTS) Short Interest Up 242.5% in January

GCT Semiconductor Holding, Inc. (NYSE:GCTS) was the target of a significant increase in short interest in the month of January. As of January 30th, there was short interest totaling 6,361,212 shares, an increase of 242.5% from the January 15th total of 1,857,151 shares. Currently, 11.8% of the company’s shares are short sold. Based on an average daily trading volume, of 18,668,270 shares, the short-interest ratio is currently 0.3 days. Based on an average daily trading volume, of 18,668,270 shares, the short-interest ratio is currently 0.3 days. Currently, 11.8% of the company’s shares are short sold.

GCT Semiconductor Trading Up 0.4%

Shares of GCTS stock traded up $0.01 on Wednesday, hitting $1.25. 1,679,583 shares of the stock were exchanged, compared to its average volume of 7,550,016. The firm’s 50 day moving average is $1.22 and its two-hundred day moving average is $1.34. GCT Semiconductor has a one year low of $0.90 and a one year high of $2.47. The firm has a market capitalization of $71.09 million, a PE ratio of -1.62 and a beta of 1.23.

GCT Semiconductor (NYSE:GCTS) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.06). The company had revenue of $0.43 million during the quarter, compared to analyst estimates of $1.20 million. On average, sell-side analysts expect that GCT Semiconductor will post -0.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GCTS. B. Riley Financial dropped their price target on shares of GCT Semiconductor from $4.50 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. HC Wainwright reiterated a “buy” rating and issued a $3.00 price objective on shares of GCT Semiconductor in a research note on Tuesday, January 13th. Two analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $3.50.

Insider Transactions at GCT Semiconductor

In other GCT Semiconductor news, Director Hyunsoo Shin acquired 25,453 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were bought at an average cost of $1.28 per share, with a total value of $32,579.84. Following the purchase, the director directly owned 737,866 shares of the company’s stock, valued at $944,468.48. This trade represents a 3.57% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have acquired a total of 45,358 shares of company stock valued at $58,058 in the last quarter. 5.40% of the stock is owned by insiders.

Institutional Trading of GCT Semiconductor

A number of institutional investors have recently modified their holdings of GCTS. Engineers Gate Manager LP bought a new position in GCT Semiconductor in the 2nd quarter worth approximately $37,000. Blair William & Co. IL purchased a new stake in shares of GCT Semiconductor during the third quarter worth $47,000. Bridgeway Capital Management LLC bought a new position in shares of GCT Semiconductor in the third quarter worth $76,000. XTX Topco Ltd bought a new position in shares of GCT Semiconductor in the second quarter worth $95,000. Finally, Goldman Sachs Group Inc. grew its position in shares of GCT Semiconductor by 57.5% in the first quarter. Goldman Sachs Group Inc. now owns 69,917 shares of the company’s stock valued at $115,000 after purchasing an additional 25,535 shares in the last quarter. 28.06% of the stock is currently owned by hedge funds and other institutional investors.

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.