Anapass, Inc. Buys 741,603 Shares of GCT Semiconductor Holding, Inc. (NYSE:GCTS) Stock

GCT Semiconductor Holding, Inc. (NYSE:GCTS) major shareholder Anapass, Inc. purchased 741,603 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was bought at an average cost of $3.02 per share, with a total value of $2,239,641.06. Following the acquisition, the insider now owns 8,017,466 shares of the company’s stock, valued at $24,212,747.32. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

GCT Semiconductor Stock Performance

Shares of NYSE GCTS opened at $3.23 on Friday. GCT Semiconductor Holding, Inc. has a twelve month low of $2.35 and a twelve month high of $56.00. The stock’s 50 day simple moving average is $3.37.

GCT Semiconductor (NYSE:GCTS) last announced its earnings results on Wednesday, August 14th. The company reported ($0.02) earnings per share (EPS) for the quarter. The firm had revenue of $1.47 million for the quarter. On average, analysts anticipate that GCT Semiconductor Holding, Inc. will post -0.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in GCT Semiconductor stock. Rhumbline Advisers acquired a new stake in GCT Semiconductor Holding, Inc. (NYSE:GCTS) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 7,123 shares of the company’s stock, valued at approximately $37,000. 28.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, B. Riley began coverage on GCT Semiconductor in a research note on Wednesday, August 28th. They issued a “buy” rating and a $8.00 target price for the company.

GCT Semiconductor Company Profile

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.