GCT Semiconductor (NYSE:GCTS) Price Target Lowered to $5.00 at B. Riley

GCT Semiconductor (NYSE:GCTS) had its price target trimmed by B. Riley from $8.00 to $5.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

GCT Semiconductor Stock Down 6.8 %

Shares of GCTS opened at $2.01 on Monday. GCT Semiconductor has a 12-month low of $1.98 and a 12-month high of $56.00. The firm’s 50 day moving average is $2.45 and its 200-day moving average is $2.85.

Institutional Trading of GCT Semiconductor

Hedge funds and other institutional investors have recently modified their holdings of the business. Rhumbline Advisers increased its stake in shares of GCT Semiconductor by 798.1% in the fourth quarter. Rhumbline Advisers now owns 51,327 shares of the company’s stock worth $120,000 after acquiring an additional 45,612 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of GCT Semiconductor by 488.2% in the third quarter. JPMorgan Chase & Co. now owns 27,258 shares of the company’s stock valued at $91,000 after purchasing an additional 22,624 shares during the last quarter. Barclays PLC lifted 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 worth $36,000 after purchasing an additional 8,236 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of GCT Semiconductor by 2.0% in the third quarter. Geode Capital Management LLC now owns 423,584 shares of the company’s stock worth $1,419,000 after acquiring an additional 8,458 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of GCT Semiconductor by 10.9% during 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 period. Institutional investors and hedge funds own 28.06% of the company’s stock.

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.