Short Interest in GCT Semiconductor Holding, Inc. (NYSE:GCTS) Expands By 13.4%

GCT Semiconductor Holding, Inc. (NYSE:GCTS) was the recipient of a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 741,800 shares, a growth of 13.4% from the December 31st total of 654,000 shares. Based on an average trading volume of 162,400 shares, the short-interest ratio is currently 4.6 days. Currently, 2.5% of the shares of the company are sold short.

GCT Semiconductor Stock Performance

GCTS stock traded down $0.15 on Monday, reaching $2.01. The company’s stock had a trading volume of 181,761 shares, compared to its average volume of 119,273. The firm has a fifty day moving average of $2.45 and a two-hundred day moving average of $2.85. GCT Semiconductor has a 52 week low of $1.98 and a 52 week high of $56.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its position in GCT Semiconductor by 141.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 42,932 shares of the company’s stock valued at $144,000 after buying an additional 25,183 shares in the last quarter. FMR LLC bought a new stake in GCT Semiconductor during the third quarter worth approximately $134,000. State Street Corp boosted its stake in GCT Semiconductor by 10.9% during the 3rd quarter. State Street Corp now owns 150,095 shares of the company’s stock valued at $503,000 after purchasing an additional 14,786 shares in the last quarter. Barclays PLC increased its position in shares of GCT Semiconductor by 321.3% during the 3rd quarter. Barclays PLC now owns 10,799 shares of the company’s stock valued at $36,000 after purchasing an additional 8,236 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of GCT Semiconductor by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 423,584 shares of the company’s stock worth $1,419,000 after buying an additional 8,458 shares in the last quarter. Institutional investors own 28.06% of the company’s stock.

Wall Street Analyst Weigh In

Separately, B. Riley reduced their price objective on GCT Semiconductor from $8.00 to $5.00 and set a “buy” rating for the company in a research report on Monday.

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.