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 growth in short interest during the month of January. As of January 15th, there was short interest totalling 741,800 shares, a growth of 13.4% from the December 31st total of 654,000 shares. Based on an average trading volume of 162,400 shares, the short-interest ratio is currently 4.6 days. Currently, 2.5% of the company’s shares are sold short.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC grew its stake 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 acquiring an additional 8,236 shares during the period. Geode Capital Management LLC boosted its position in GCT Semiconductor by 2.0% during the third quarter. Geode Capital Management LLC now owns 423,584 shares of the company’s stock worth $1,419,000 after purchasing an additional 8,458 shares during the period. State Street Corp increased its stake in shares of GCT Semiconductor by 10.9% in the third quarter. State Street Corp now owns 150,095 shares of the company’s stock worth $503,000 after purchasing an additional 14,786 shares in the last quarter. JPMorgan Chase & Co. raised 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 period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of GCT Semiconductor by 141.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 42,932 shares of the company’s stock valued at $144,000 after buying an additional 25,183 shares in the last quarter. Hedge funds and other institutional investors own 28.06% of the company’s stock.

Analysts Set New Price Targets

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

GCT Semiconductor Stock Performance

GCTS stock traded down $0.06 during midday trading on Monday, reaching $2.10. 27,817 shares of the company’s stock traded hands, compared to its average volume of 111,619. The firm’s fifty day moving average price is $2.45 and its 200-day moving average price is $2.85. GCT Semiconductor has a 52 week low of $2.09 and a 52 week high of $56.00.

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.