Rhumbline Advisers Acquires 45,612 Shares of GCT Semiconductor Holding, Inc. (NYSE:GCTS)

Rhumbline Advisers increased its position in GCT Semiconductor Holding, Inc. (NYSE:GCTS) by 798.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 51,327 shares of the company’s stock after purchasing an additional 45,612 shares during the quarter. Rhumbline Advisers owned approximately 0.11% of GCT Semiconductor worth $120,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in GCT Semiconductor by 488.2% in the third quarter. JPMorgan Chase & Co. now owns 27,258 shares of the company’s stock worth $91,000 after acquiring an additional 22,624 shares in the last quarter. Barclays PLC increased its position in GCT Semiconductor by 321.3% in the third quarter. Barclays PLC now owns 10,799 shares of the company’s stock worth $36,000 after buying an additional 8,236 shares in the last quarter. Geode Capital Management LLC increased 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 buying an additional 8,458 shares in the last quarter. State Street Corp grew its position in shares of GCT Semiconductor by 10.9% during the third quarter. State Street Corp now owns 150,095 shares of the company’s stock worth $503,000 after purchasing an additional 14,786 shares in the last quarter. Finally, FMR LLC purchased a new stake in shares of GCT Semiconductor during the third quarter worth about $134,000. Hedge funds and other institutional investors own 28.06% of the company’s stock.

Wall Street Analysts Forecast Growth

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

GCT Semiconductor Price Performance

Shares of GCT Semiconductor stock opened at $1.95 on Tuesday. The stock has a 50 day moving average of $2.24 and a 200 day moving average of $2.48. GCT Semiconductor Holding, Inc. has a 12 month low of $1.85 and a 12 month high of $56.00.

GCT Semiconductor 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.