GCT Semiconductor (NYSE:GCTS) Trading Up 1.8% – Here’s What Happened

Shares of GCT Semiconductor Holding, Inc. (NYSE:GCTS) traded up 1.8% during mid-day trading on Wednesday . The company traded as high as $2.07 and last traded at $2.02. 67,090 shares changed hands during trading, a decline of 41% from the average session volume of 113,170 shares. The stock had previously closed at $1.98.

Analyst Ratings Changes

Separately, B. Riley decreased their price objective on GCT Semiconductor from $8.00 to $5.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd.

GCT Semiconductor Price Performance

The business’s fifty day moving average price is $2.30 and its 200-day moving average price is $2.57.

Institutional Investors Weigh In On GCT Semiconductor

Large investors have recently added to or reduced their stakes in the business. Barclays PLC grew its holdings in shares of GCT Semiconductor by 321.3% during the third quarter. Barclays PLC now owns 10,799 shares of the company’s stock worth $36,000 after purchasing an additional 8,236 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of GCT Semiconductor in the 4th quarter valued at $45,000. Renaissance Technologies LLC purchased a new stake in GCT Semiconductor during the fourth quarter valued at about $58,000. JPMorgan Chase & Co. grew its position in GCT Semiconductor by 488.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 27,258 shares of the company’s stock worth $91,000 after acquiring an additional 22,624 shares during the last quarter. Finally, FMR LLC purchased a new position in shares of GCT Semiconductor in the third quarter worth $134,000. Institutional investors 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.