Short Interest in GCT Semiconductor Holding, Inc. (NYSE:GCTS) Increases By 71.1%

GCT Semiconductor Holding, Inc. (NYSE:GCTS) saw a large increase in short interest in the month of May. As of May 15th, there was short interest totaling 5,061,672 shares, an increase of 71.1% from the April 30th total of 2,958,226 shares. Approximately 7.4% of the company’s stock are sold short. Based on an average daily trading volume, of 6,790,589 shares, the short-interest ratio is presently 0.7 days.

Institutional Investors Weigh In On GCT Semiconductor

Institutional investors have recently added to or reduced their stakes in the company. State Street Corp lifted its position in shares of GCT Semiconductor by 8.9% during the 4th quarter. State Street Corp now owns 144,689 shares of the company’s stock worth $174,000 after buying an additional 11,800 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of GCT Semiconductor by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 414,944 shares of the company’s stock valued at $498,000 after acquiring an additional 17,867 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of GCT Semiconductor during the fourth quarter valued at approximately $26,000. Engineers Gate Manager LP purchased a new stake in shares of GCT Semiconductor during the second quarter valued at approximately $37,000. Finally, Bridgeway Capital Management LLC lifted its holdings in GCT Semiconductor by 50.0% during the fourth quarter. Bridgeway Capital Management LLC now owns 75,000 shares of the company’s stock worth $90,000 after acquiring an additional 25,000 shares during the period. 28.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Wall Street Zen downgraded GCT Semiconductor from a “hold” rating to a “sell” rating in a research note on Sunday. HC Wainwright reissued a “buy” rating and issued a $3.00 price objective on shares of GCT Semiconductor in a research note on Monday, March 30th. Finally, Weiss Ratings raised GCT Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 6th. Two investment 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.com, the company currently has a consensus rating of “Hold” and a consensus price target of $3.50.

GCT Semiconductor Trading Down 4.8%

Shares of GCT Semiconductor stock opened at $3.30 on Thursday. The company has a market capitalization of $273.75 million, a P/E ratio of -4.07 and a beta of 1.75. The stock has a fifty day simple moving average of $1.84 and a 200 day simple moving average of $1.44. GCT Semiconductor has a 12-month low of $0.95 and a 12-month high of $3.93.

GCT Semiconductor (NYSE:GCTS) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The business had revenue of $1.92 million for the quarter, compared to analysts’ expectations of $1.77 million. On average, analysts predict that GCT Semiconductor will post -0.41 EPS for the current year.

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.