GCT Semiconductor Holding, Inc. (NYSE:GCTS) Short Interest Update

GCT Semiconductor Holding, Inc. (NYSE:GCTS) has experienced a significant reduction in short interest during December. As of December 15th, the short interest amounted to 654,000 shares, which reflects a 6.0% decrease from the previous total of 696,000 shares recorded on November 30th. This indicates that approximately 2.2% of the company’s shares are currently sold short. Considering an average trading volume of 161,600 shares, this results in a short-interest ratio of 4.0 days.

Hedge Funds Weigh In On GCT Semiconductor

Several institutional investors and hedge funds have recently made significant moves in relation to GCT Semiconductor stocks. Notably, FMR LLC made an entry into GCT Semiconductor during the third quarter with a new position valued at approximately $134,000. Charles Schwab Investment Management Inc. has also increased its investment in GCT Semiconductor by 141.9% in the same quarter, resulting in ownership of 42,932 shares valued at $144,000 after acquiring an additional 25,183 shares. Additionally, JPMorgan Chase & Co. markedly raised its position in GCT Semiconductor by an astonishing 488.2% during the third quarter and now holds 27,258 shares valued at $91,000, following the purchase of 22,624 extra shares. In the second quarter, Bank of New York Mellon Corp entered the fray by purchasing a new stake worth $89,000. State Street Corp also raised its holdings by 10.9% in the third quarter, increasing its ownership to 150,095 shares valued at $503,000 after acquiring an additional 14,786 shares. Overall, institutional investors currently own about 28.06% of GCT Semiconductor's stock.

GCT Semiconductor Price Performance

The stock opened at $2.33 on Thursday. Over the past year, GCT Semiconductor has seen a low of $2.12 and a high of $56.00. Currently, the fifty-day moving average stands at $2.48, with a 200-day moving average of $3.28.

GCT Semiconductor Company Profile

GCT Semiconductor Holding, Inc. operates as a fabless semiconductor company. It specializes in the design, development, and marketing of integrated circuits tailored for the wireless semiconductor sector. The company produces RF and modem chipsets that utilize 4G LTE technology, which includes advancements such as 4G LTE, 4.5G LTE Advanced, and 4.75G LTE Advanced-Pro.

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