Fmr LLC Invests $134,000 in GCT Semiconductor Holding, Inc. (NYSE:GCTS)

Fmr LLC acquired a new stake in GCT Semiconductor Holding, Inc. (NYSE:GCTS) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 40,054 shares of the company’s stock, valued at approximately $134,000. Fmr LLC owned about 0.08% of GCT Semiconductor at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Rhumbline Advisers purchased a new position in shares of GCT Semiconductor during the 2nd quarter valued at $37,000. Bank of New York Mellon Corp purchased a new stake in GCT Semiconductor during the second quarter valued at about $89,000. Finally, Charles Schwab Investment Management Inc. boosted its position in GCT Semiconductor by 141.9% during the third 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 during the period. 28.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, B. Riley started coverage on shares of GCT Semiconductor in a research note on Wednesday, August 28th. They set a “buy” rating and a $8.00 price target on the stock.

GCT Semiconductor Stock Up 2.2 %

GCT Semiconductor stock opened at $2.29 on Monday. GCT Semiconductor Holding, Inc. has a one year low of $2.12 and a one year high of $56.00. The business has a fifty day moving average price of $2.51 and a 200-day moving average price of $3.37.

Insiders Place Their Bets

In other news, major shareholder Anapass, Inc. bought 741,603 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were acquired at an average price of $3.02 per share, with a total value of $2,239,641.06. Following the acquisition, the insider now owns 8,017,466 shares of the company’s stock, valued at approximately $24,212,747.32. The trade was a 10.19 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 0.21% of the stock is owned by corporate insiders.

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.