GCT Semiconductor Holding, Inc. (NYSE:GCTS) Sees Significant Growth in Short Interest

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

Institutional Trading of GCT Semiconductor

Several hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers lifted its holdings in shares of GCT Semiconductor by 798.1% in the 4th quarter. Rhumbline Advisers now owns 51,327 shares of the company’s stock worth $120,000 after purchasing an additional 45,612 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of GCT Semiconductor by 488.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 27,258 shares of the company’s stock worth $91,000 after purchasing an additional 22,624 shares during the last quarter. Barclays PLC lifted its holdings in shares of GCT Semiconductor by 321.3% in the 3rd quarter. Barclays PLC now owns 10,799 shares of the company’s stock worth $36,000 after purchasing an additional 8,236 shares during the last quarter. Geode Capital Management LLC lifted its holdings 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 purchasing an additional 8,458 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of GCT Semiconductor by 10.9% in the 3rd quarter. State Street Corp now owns 150,095 shares of the company’s stock worth $503,000 after purchasing an additional 14,786 shares during the last quarter. Institutional investors own 28.06% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, B. Riley decreased their target price 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 Price Performance

Shares of GCTS traded down $0.13 during mid-day trading on Monday, hitting $2.04. The stock had a trading volume of 83,496 shares, compared to its average volume of 114,156. The company’s fifty day simple moving average is $2.45 and its two-hundred day simple moving average is $2.85. GCT Semiconductor has a fifty-two week low of $2.05 and a fifty-two week high of $56.00.

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.