GCT Semiconductor (NYSE:GCTS) Shares Up 1.8% – What’s Next?

GCT Semiconductor Holding, Inc. (NYSE:GCTS)’s stock price rose 1.8% on Wednesday . The company traded as high as $2.07 and last traded at $2.02. Approximately 67,090 shares traded hands during trading, a decline of 41% from the average daily volume of 113,170 shares. The stock had previously closed at $1.98.

Wall Street Analysts Forecast Growth

Separately, B. Riley lowered their price target on shares of GCT Semiconductor from $8.00 to $5.00 and set a “buy” rating for the company in a report on Monday, February 3rd.

GCT Semiconductor Trading Up 1.8 %

The firm’s 50-day moving average price is $2.30 and its 200 day moving average price is $2.57.

Hedge Funds Weigh In On GCT Semiconductor

A number of institutional investors have recently modified their holdings of GCTS. Charles Schwab Investment Management Inc. grew its position in GCT Semiconductor by 141.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 42,932 shares of the company’s stock worth $144,000 after purchasing an additional 25,183 shares in the last quarter. FMR LLC bought a new stake in GCT Semiconductor during the third quarter worth $134,000. Geode Capital Management LLC boosted its position in GCT Semiconductor by 2.0% in the third quarter. Geode Capital Management LLC now owns 423,584 shares of the company’s stock worth $1,419,000 after purchasing an additional 8,458 shares during the last quarter. State Street Corp increased its position in shares of GCT Semiconductor by 10.9% during the 3rd quarter. State Street Corp now owns 150,095 shares of the company’s stock valued at $503,000 after purchasing an additional 14,786 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of GCT Semiconductor by 488.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 27,258 shares of the company’s stock worth $91,000 after buying an additional 22,624 shares during the last quarter. 28.06% of the stock is owned by institutional investors and hedge funds.

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.