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

GCT Semiconductor Holding, Inc. (NYSE:GCTS) was the target of a significant increase in short interest during the month of 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. Approximately 2.5% of the company’s shares are sold short. Based on an average daily volume of 162,400 shares, the short-interest ratio is presently 4.6 days.

Wall Street Analysts Forecast Growth

Separately, B. Riley dropped their target price on shares of GCT Semiconductor from $8.00 to $5.00 and set a “buy” rating on the stock in a research report on Monday.

Institutional Trading of GCT Semiconductor

Several institutional investors have recently made changes to their positions in GCTS. Barclays PLC increased its position in 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. JPMorgan Chase & Co. increased its holdings in GCT Semiconductor by 488.2% in the third quarter. JPMorgan Chase & Co. now owns 27,258 shares of the company’s stock worth $91,000 after buying an additional 22,624 shares during the last quarter. FMR LLC bought a new position in GCT Semiconductor during the third quarter valued at approximately $134,000. Charles Schwab Investment Management Inc. lifted its stake in GCT Semiconductor by 141.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 42,932 shares of the company’s stock valued at $144,000 after acquiring an additional 25,183 shares during the last quarter. Finally, Rhumbline Advisers grew its position in 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 in the last quarter. 28.06% of the stock is currently owned by institutional investors and hedge funds.

GCT Semiconductor Trading Down 6.8 %

NYSE GCTS traded down $0.15 during trading on Monday, reaching $2.01. 181,761 shares of the company’s stock were exchanged, compared to its average volume of 119,273. GCT Semiconductor has a fifty-two week low of $1.98 and a fifty-two week high of $56.00. The company’s fifty day simple moving average is $2.45 and its 200-day simple moving average is $2.85.

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.