Separately, Needham & Company LLC reaffirmed a hold rating on shares of GSI Technology in a research report on Friday, January 26th.
GSIT stock opened at $8.40 on Monday. GSI Technology has a 12 month low of $6.05 and a 12 month high of $9.14.
GSI Technology (NASDAQ:GSIT) last announced its quarterly earnings results on Thursday, January 25th. The semiconductor company reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.03). GSI Technology had a negative return on equity of 7.12% and a negative net margin of 14.65%. The firm had revenue of $11.12 million for the quarter, compared to analyst estimates of $10.50 million. During the same quarter in the prior year, the company earned $0.02 earnings per share. The business’s revenue was down 3.1% compared to the same quarter last year.
In other news, VP Robert Yau sold 7,474 shares of the firm’s stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $8.01, for a total value of $59,866.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Didier Lasserre sold 10,000 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $7.91, for a total value of $79,100.00. Following the completion of the sale, the vice president now directly owns 252,979 shares of the company’s stock, valued at approximately $2,001,063.89. The disclosure for this sale can be found here. Insiders have sold a total of 19,869 shares of company stock worth $158,127 over the last quarter. Insiders own 34.20% of the company’s stock.
Several institutional investors have recently bought and sold shares of GSIT. Teachers Advisors LLC bought a new position in shares of GSI Technology in the second quarter worth about $194,000. TIAA CREF Investment Management LLC acquired a new stake in GSI Technology during the second quarter worth about $293,000. Northern Trust Corp grew its position in GSI Technology by 379.2% during the second quarter. Northern Trust Corp now owns 154,441 shares of the semiconductor company’s stock worth $1,214,000 after buying an additional 122,210 shares in the last quarter. Dimensional Fund Advisors LP grew its position in GSI Technology by 13.4% during the second quarter. Dimensional Fund Advisors LP now owns 724,462 shares of the semiconductor company’s stock worth $5,694,000 after buying an additional 85,825 shares in the last quarter. Finally, State Street Corp grew its position in GSI Technology by 359.4% during the second quarter. State Street Corp now owns 167,791 shares of the semiconductor company’s stock worth $1,319,000 after buying an additional 131,271 shares in the last quarter. Institutional investors and hedge funds own 31.32% of the company’s stock.
GSI Technology Company Profile
GSI Technology, Inc is a provider of Very Fast static random access memory (SRAM) products and low latency dynamic random access memory (LLDRAM) products. The Company operates through the design, development and sale of integrated circuits segment. Its products are incorporated primarily in high-performance networking and telecommunications equipment, such as routers, switches, area network infrastructure equipment, wireless base stations and network access equipment.
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