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

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

Analyst Upgrades and Downgrades

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

GCT Semiconductor Stock Performance

NYSE:GCTS traded up $0.01 during midday trading on Friday, reaching $1.14. 615,290 shares of the stock traded hands, compared to its average volume of 1,694,973. The company has a fifty day moving average of $1.16 and a 200 day moving average of $1.32. The stock has a market capitalization of $64.81 million, a P/E ratio of -1.47 and a beta of 1.23. GCT Semiconductor has a 12 month low of $0.90 and a 12 month high of $2.47.

Hedge Funds Weigh In On GCT Semiconductor

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. XTX Topco Ltd purchased a new stake in GCT Semiconductor in the fourth quarter worth $26,000. Bridgeway Capital Management LLC increased its position in 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 purchasing an additional 25,000 shares during the period. State Street Corp increased its position in 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 purchasing an additional 11,800 shares during the period. Geode Capital Management LLC raised its holdings in GCT Semiconductor by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 414,944 shares of the company’s stock worth $498,000 after purchasing an additional 17,867 shares in the last quarter. Finally, Blair William & Co. IL purchased a new stake in shares of GCT Semiconductor in the 3rd quarter worth about $47,000. Institutional investors own 28.06% of the company’s stock.

GCT Semiconductor Company Profile

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.