Short Interest in GCT Semiconductor Holding, Inc. (NYSE:GCTS) Decreases By 19.6%

GCT Semiconductor Holding, Inc. (NYSE:GCTS) was the recipient of a large drop in short interest during the month of March. As of March 13th, there was short interest totaling 2,169,417 shares, a drop of 19.6% from the February 26th total of 2,699,716 shares. Based on an average daily trading volume, of 1,094,648 shares, the short-interest ratio is currently 2.0 days. Approximately 3.2% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a “buy” rating and issued a $3.00 price target on shares of GCT Semiconductor in a report on Monday. Two equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $3.50.

Institutional Investors Weigh In On GCT Semiconductor

Large investors have recently made changes to their positions in the company. Jane Street Group LLC acquired a new position in shares of GCT Semiconductor during the second quarter worth approximately $246,000. XTX Topco Ltd bought a new stake in GCT Semiconductor during the 2nd quarter valued at $95,000. Vanguard Group Inc. raised its stake in GCT Semiconductor by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,583,800 shares of the company’s stock valued at $2,407,000 after acquiring an additional 50,799 shares in the last quarter. Bridgeway Capital Management LLC acquired a new position in GCT Semiconductor during the 3rd quarter worth $76,000. Finally, Blair William & Co. IL bought a new position in shares of GCT Semiconductor in the third quarter worth $47,000. Institutional investors and hedge funds own 28.06% of the company’s stock.

GCT Semiconductor Trading Up 1.3%

NYSE GCTS traded up $0.02 during trading hours on Wednesday, reaching $1.16. 269,639 shares of the company traded hands, compared to its average volume of 4,279,471. The stock has a market capitalization of $83.70 million, a PE ratio of -1.43 and a beta of 1.23. GCT Semiconductor has a 12 month low of $0.90 and a 12 month high of $2.47. The company has a 50 day moving average of $1.18 and a two-hundred day moving average of $1.31.

GCT Semiconductor (NYSE:GCTS) last posted its quarterly earnings results on Wednesday, March 25th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.07. The business had revenue of $0.76 million during the quarter, compared to the consensus estimate of $0.96 million. On average, equities research analysts anticipate that GCT Semiconductor will post -0.3 earnings per share for the current year.

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.