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

GCT Semiconductor Holding, Inc. (NYSE:GCTS) was the recipient of a significant increase in short interest during 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. Based on an average trading volume of 6,790,589 shares, the short-interest ratio is currently 0.7 days. Currently, 7.4% of the shares of the stock are short sold.

Analyst Ratings Changes

A number of research firms have recently commented on GCTS. Wall Street Zen cut shares of GCT Semiconductor from a “hold” rating to a “sell” rating in a report on Sunday. Weiss Ratings raised shares of GCT Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 6th. Finally, HC Wainwright reiterated a “buy” rating and set a $3.00 price objective on shares of GCT Semiconductor in a research report on Monday, March 30th. Two equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, GCT Semiconductor currently has an average rating of “Hold” and a consensus target price of $3.50.

Institutional Trading of GCT Semiconductor

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of GCT Semiconductor by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,583,800 shares of the company’s stock worth $2,407,000 after buying an additional 50,799 shares during the period. Geode Capital Management LLC lifted its position in shares of GCT Semiconductor by 4.5% during the 4th 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 during the period. Jane Street Group LLC acquired a new stake in GCT Semiconductor in the second quarter worth $246,000. State Street Corp increased its stake in GCT Semiconductor by 8.9% in the fourth quarter. State Street Corp now owns 144,689 shares of the company’s stock valued at $174,000 after purchasing an additional 11,800 shares in the last quarter. Finally, Bridgeway Capital Management LLC raised its holdings in shares of GCT Semiconductor by 50.0% during the fourth quarter. Bridgeway Capital Management LLC now owns 75,000 shares of the company’s stock valued at $90,000 after purchasing an additional 25,000 shares during the period. 28.06% of the stock is currently owned by institutional investors.

GCT Semiconductor Price Performance

NYSE GCTS traded up $0.04 on Wednesday, reaching $3.50. The company had a trading volume of 3,117,528 shares, compared to its average volume of 5,305,691. The firm has a market cap of $290.78 million, a price-to-earnings ratio of -4.32 and a beta of 1.75. GCT Semiconductor has a fifty-two week low of $0.95 and a fifty-two week high of $3.93. The business has a 50 day moving average of $1.76 and a two-hundred day moving average of $1.42.

GCT Semiconductor (NYSE:GCTS) last announced its earnings results on Tuesday, May 12th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The business had revenue of $1.92 million during the quarter, compared to analysts’ expectations of $1.77 million. As a group, research analysts predict that GCT Semiconductor will post -0.41 earnings per share for the current fiscal year.

About GCT Semiconductor

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.