GSI Technology Sees Unusually Large Options Volume (NASDAQ:GSIT)

GSI Technology, Inc. (NASDAQ:GSIT) was the target of some unusual options trading on Wednesday. Investors acquired 6,885 call options on the company. This represents an increase of approximately 135% compared to the typical volume of 2,930 call options.

GSI Technology Trading Down 3.5%

Shares of GSIT stock opened at $7.41 on Thursday. The firm has a 50-day moving average price of $6.83 and a 200 day moving average price of $5.55. GSI Technology has a twelve month low of $1.62 and a twelve month high of $18.15. The company has a market capitalization of $261.13 million, a price-to-earnings ratio of -16.84 and a beta of 1.46.

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

Insiders Place Their Bets

In related news, VP Patrick T. Chuang sold 40,000 shares of the 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 sale, the vice president directly owned 15,166 shares of the company’s stock, valued at approximately $131,337.56. This represents a 72.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Avidan Akerib sold 135,286 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $9.05, for a total transaction of $1,224,338.30. Following the transaction, the vice president owned 23,307 shares of the company’s stock, valued at $210,928.35. This trade represents a 85.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 230,018 shares of company stock valued at $2,038,150. Company insiders own 25.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GSIT. R Squared Ltd acquired a new stake in shares of GSI Technology during the third quarter worth $38,000. Osaic Holdings Inc. increased its stake in GSI Technology by 52.1% in the second quarter. Osaic Holdings Inc. now owns 12,012 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 4,112 shares during the last quarter. Bank of America Corp DE lifted its position in GSI Technology by 8,247.6% during the second quarter. Bank of America Corp DE now owns 13,690 shares of the semiconductor company’s stock worth $46,000 after buying an additional 13,526 shares during the period. Prelude Capital Management LLC acquired a new stake in GSI Technology in the 3rd quarter worth about $52,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in GSI Technology in the 2nd quarter valued at about $55,000. 33.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

GSI Technology Company Profile

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.