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

GCT Semiconductor Holding, Inc. (NYSE:GCTS) experienced a notable decline in short interest during December. As of December 15th, the short interest amounted to 654,000 shares, reflecting a 6.0% drop compared to the 696,000 shares reported at the end of November. Given the average daily trading volume of 161,600 shares, the days-to-cover ratio currently stands at 4.0 days, indicating that approximately 2.2% of the company's stock is sold short.

Recent movements in short interest might be noteworthy for investors as they could indicate shifting market sentiments toward the company and its stock performance.

Institutional Investors' Activity

Several institutional investors have adjusted their holdings in GCT Semiconductor recently. For instance, Rhumbline Advisers acquired a new position in the company during the second quarter, which is valued at about $37,000. Barclays PLC notably increased its stake by 321.3% in the third quarter and now holds 10,799 shares valued at approximately $36,000, having bought an additional 8,236 shares during that period. Additionally, Geode Capital Management LLC raised its position by 2.0%, now owning 423,584 shares worth around $1,419,000 after acquiring another 8,458 shares. State Street Corp also grew its shareholding by 10.9% in the third quarter, now having 150,095 shares valued at $503,000. Lastly, Bank of New York Mellon Corp entered the market with a new stake in GCT Semiconductor, valued at $89,000. Overall, institutional investors and hedge funds collectively own about 28.06% of the company's stock.

Stock Performance Overview

On a trading day, shares of NYSE GCTS dipped by $0.04, bringing the price to $2.33. The trading volume for the day was 188,504 shares, compared to an average volume of 410,148. The stock has recorded a 50-day moving average price of $2.49 and a 200-day moving average price of $3.29. In terms of historical performance, GCT Semiconductor reached a twelve-month low of $2.12 and a high of $56.00.

About GCT Semiconductor

GCT Semiconductor Holding, Inc. is a fabless semiconductor company engaged in designing, developing, and marketing integrated circuits primarily for the wireless semiconductor industry. The company specializes in providing RF and modem chipsets based on 4G LTE technology, which includes offerings such as 4G LTE, 4.5G LTE Advanced, and 4.75G LTE Advanced-Pro.

Investment Considerations

Investors interested in GCT Semiconductor should consider the current market sentiment. While the company has a "Buy" rating from analysts, some top performers have identified alternative stocks that they believe present better investment opportunities.

GCT, Semiconductor, Stocks