GCT Semiconductor Holding, Inc. (NYSE:GCTS) Short Interest Up 16.4% in November

GCT Semiconductor Holding, Inc. (NYSE:GCTS) was the recipient of a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 696,000 shares, an increase of 16.4% from the November 15th total of 598,000 shares. Currently, 2.3% of the shares of the company are sold short. Based on an average daily volume of 152,100 shares, the short-interest ratio is presently 4.6 days.

GCT Semiconductor Stock Performance

GCTS traded down $0.09 on Monday, reaching $2.55. 236,755 shares of the company’s stock were exchanged, compared to its average volume of 419,076. GCT Semiconductor has a twelve month low of $2.12 and a twelve month high of $56.00. The stock’s fifty day moving average price is $2.53 and its 200-day moving average price is $3.44.

Insider Activity at GCT Semiconductor

In other GCT Semiconductor news, major shareholder Anapass, Inc. purchased 741,603 shares of the stock in a transaction on Thursday, September 26th. The shares were bought at an average price of $3.02 per share, for a total transaction of $2,239,641.06. Following the completion of the transaction, the insider now owns 8,017,466 shares of the company’s stock, valued at $24,212,747.32. This trade represents a 10.19 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On GCT Semiconductor

Large investors have recently made changes to their positions in the stock. Rhumbline Advisers acquired a new position in GCT Semiconductor during the second quarter worth $37,000. Barclays PLC boosted 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 valued at $36,000 after acquiring an additional 8,236 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of GCT Semiconductor in the second quarter valued at about $89,000. FMR LLC acquired a new stake in GCT Semiconductor during the third quarter worth about $134,000. Finally, Charles Schwab Investment Management Inc. raised its stake in GCT Semiconductor by 141.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 42,932 shares of the company’s stock worth $144,000 after purchasing an additional 25,183 shares during the period. 28.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, B. Riley began coverage on shares of GCT Semiconductor in a report on Wednesday, August 28th. They set a “buy” rating and a $8.00 price objective on the 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.