GCT Semiconductor Holding, Inc. (NYSE:GCTS) Short Interest Decreases in December

GCT Semiconductor Holding, Inc. (NYSE:GCTS) experienced a notable decline in short interest throughout December. As of December 15th, the total short interest stood at 654,000 shares, representing a decrease of 6.0% from the 696,000 shares reported at the end of November. With an average daily trading volume of 161,600 shares, the current days-to-cover ratio is approximately 4.0 days. This indicates that about 2.2% of the company’s stock is currently sold short.

Institutional Investors Take Position in GCT Semiconductor

Several institutional investors have recently adjusted their stakes in GCT Semiconductor. Rhumbline Advisers acquired a new position in the second quarter, valued at around $37,000. Barclays PLC significantly increased its holdings by 321.3% during the third quarter, now owning 10,799 shares worth $36,000 after buying an additional 8,236 shares. Meanwhile, Geode Capital Management LLC raised its stake by 2.0% in the same quarter, holding 423,584 shares valued at $1,419,000 after a purchase of 8,458 shares. State Street Corp also enhanced its holdings by 10.9% in the third quarter, bringing its total to 150,095 shares worth $503,000 with an additional 14,786 shares bought. Lastly, the Bank of New York Mellon Corp took a new position in the second quarter valued at $89,000. Overall, institutional investors and hedge funds control approximately 28.06% of the company’s shares.

GCT Semiconductor Stock Overview

On Wednesday, GCT Semiconductor's shares traded down by $0.04 to reach $2.33. The trading volume amounted to 188,504 shares, compared to the average volume of 410,148 shares. The stock has a 50-day moving average price of $2.49 and a 200-day moving average price of $3.29. Throughout the past year, GCT Semiconductor has seen a low of $2.12 and a high of $56.00.

About GCT Semiconductor

GCT Semiconductor Holding, Inc. operates as a fabless semiconductor company, focusing on designing, developing, and marketing integrated circuits specifically for the wireless semiconductor sector. The company provides RF and modem chipsets that utilize 4G LTE technology, including advancements like 4G LTE, 4.5G LTE Advanced, and 4.75G LTE Advanced-Pro.

Investing Considerations

Before investing in GCT Semiconductor, it is advisable to review insights from top-rated analysts regarding strong investment options. Currently, while GCT Semiconductor holds a "Buy" rating among analysts, there are five other stocks they suggest for consideration before making a decision.

GCT, Semiconductor, Stocks