GCT Semiconductor Holding, Inc. (NYSE:GCTS) Short Interest Down 38.7% in February

GCT Semiconductor Holding, Inc. (NYSE:GCTS) was the target of a large decline in short interest in February. As of February 13th, there was short interest totaling 3,898,424 shares, a decline of 38.7% from the January 29th total of 6,361,212 shares. Currently, 7.2% of the shares of the stock are short sold. Based on an average trading volume of 2,568,625 shares, the days-to-cover ratio is currently 1.5 days. Based on an average trading volume of 2,568,625 shares, the days-to-cover ratio is currently 1.5 days. Currently, 7.2% of the shares of the stock are short sold.

Institutional Investors Weigh In On GCT Semiconductor

A number of hedge funds and other institutional investors have recently modified their holdings of the company. XTX Topco Ltd purchased a new stake in shares of GCT Semiconductor during the 4th quarter valued at $26,000. Engineers Gate Manager LP acquired a new position in GCT Semiconductor in the second quarter valued at $37,000. Blair William & Co. IL purchased a new stake in GCT Semiconductor during the third quarter valued at about $47,000. Bridgeway Capital Management LLC acquired a new stake in GCT Semiconductor during the third quarter worth about $76,000. Finally, Goldman Sachs Group Inc. increased its stake in GCT Semiconductor by 57.5% during the first quarter. Goldman Sachs Group Inc. now owns 69,917 shares of the company’s stock worth $115,000 after acquiring an additional 25,535 shares during the last quarter. 28.06% of the stock is currently owned by hedge funds and other institutional investors.

GCT Semiconductor Trading Down 3.1%

Shares of NYSE:GCTS traded down $0.04 on Friday, hitting $1.11. The company had a trading volume of 1,971,125 shares, compared to its average volume of 2,321,102. The company has a market cap of $63.10 million, a PE ratio of -1.44 and a beta of 1.23. GCT Semiconductor has a 52-week low of $0.90 and a 52-week high of $2.47. The business has a 50 day moving average of $1.17 and a 200 day moving average of $1.33.

Analysts Set New Price Targets

Several research firms recently weighed in on GCTS. HC Wainwright reaffirmed a “buy” rating and issued a $3.00 price objective on shares of GCT Semiconductor in a research note on Tuesday, January 13th. B. Riley Financial lowered their target price on GCT Semiconductor from $4.50 to $4.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, GCT Semiconductor currently has a consensus rating of “Hold” and an average price target of $3.50.

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. It also develops and sells cellular IoT chipsets for low-speed mobile networks such as eMTC/NB-IOT/Sigfox, and other network protocols; and 5G solutions. Its products and solutions are used in smartphones, tablets, hotspots, CPEs, USB dongles, routers, and M2M applications.