GSI Technology (NASDAQ:GSIT) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

GSI Technology, Inc. (NASDAQ:GSIT) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $5.29 and traded as high as $6.79. GSI Technology shares last traded at $6.73, with a volume of 1,270,877 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of GSI Technology in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, GSI Technology presently has a consensus rating of “Sell”.

GSI Technology Stock Up 8.4%

The company has a 50 day simple moving average of $7.25 and a 200-day simple moving average of $5.31. The stock has a market cap of $237.17 million, a price-to-earnings ratio of -15.30 and a beta of 1.46.

GSI Technology (NASDAQ:GSIT) last issued its quarterly earnings results on Thursday, October 30th. The semiconductor company reported ($0.11) earnings per share for the quarter. The firm had revenue of $6.44 million during the quarter. GSI Technology had a negative net margin of 48.54% and a negative return on equity of 34.79%.

Insider Buying and Selling at GSI Technology

In other news, VP Patrick T. Chuang sold 40,000 shares of GSI Technology stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $8.66, for a total value of $346,400.00. Following the completion of the transaction, the vice president directly owned 15,166 shares of the company’s stock, valued at approximately $131,337.56. The trade was a 72.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Avidan Akerib sold 54,732 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $8.54, for a total transaction of $467,411.28. Following the sale, the vice president directly owned 23,307 shares of the company’s stock, valued at approximately $199,041.78. This represents a 70.13% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 230,018 shares of company stock valued at $2,038,150. 25.40% of the stock is owned by insiders.

Hedge Funds Weigh In On GSI Technology

Hedge funds and other institutional investors have recently bought and sold shares of the stock. R Squared Ltd acquired a new stake in shares of GSI Technology during the 3rd quarter worth approximately $38,000. Osaic Holdings Inc. increased its position in GSI Technology by 52.1% in the second quarter. Osaic Holdings Inc. now owns 12,012 shares of the semiconductor company’s stock worth $40,000 after buying an additional 4,112 shares during the period. Bank of America Corp DE lifted its stake in GSI Technology by 8,247.6% in the second quarter. Bank of America Corp DE now owns 13,690 shares of the semiconductor company’s stock valued at $46,000 after buying an additional 13,526 shares during the last quarter. Prelude Capital Management LLC bought a new stake in GSI Technology in the third quarter valued at $52,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in shares of GSI Technology during the second quarter valued at $55,000. 33.15% of the stock is currently owned by institutional investors and hedge funds.

About GSI Technology

GSI Technology, Inc is a fabless semiconductor company specializing in the design and development of high-performance memory products. Headquartered in Sunnyvale, California, the company was founded in 1995 and has focused its efforts on content addressable memory (CAM) and high-speed SRAM (static random-access memory) solutions. As a publicly traded company listed on NASDAQ under the ticker GSIT, GSI Technology leverages advanced architectures to meet demanding data-processing requirements.

The company’s core product portfolio includes ternary CAM (TCAM) devices, binary CAM (BCAM) devices and high-speed synchronous SRAM.