GSI Technology (NASDAQ:GSIT) CEO Lee-Lean Shu Sells 36,517 Shares

GSI Technology, Inc. (NASDAQ:GSIT) CEO Lee-Lean Shu sold 36,517 shares of the business’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $10.01, for a total value of $365,535.17. Following the transaction, the chief executive officer owned 1,982,417 shares of the company’s stock, valued at $19,843,994.17. The trade was a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Lee-Lean Shu also recently made the following trade(s):

• On Monday, March 16th, Lee-Lean Shu sold 30,734 shares of GSI Technology stock. The shares were sold at an average price of $10.02, for a total transaction of $307,954.68.

GSI Technology Stock Down 13.2%

GSI Technology stock traded down $1.29 during midday trading on Tuesday, hitting $8.48. 1,977,057 shares of the stock were exchanged, compared to its average volume of 799,494. The company has a fifty day simple moving average of $7.55 and a two-hundred day simple moving average of $6.69. GSI Technology, Inc. has a 52 week low of $1.62 and a 52 week high of $18.15. The stock has a market capitalization of $306.89 million, a PE ratio of -22.92 and a beta of 1.44.

GSI Technology (NASDAQ:GSIT) last issued its quarterly earnings data on Thursday, January 29th. The semiconductor company reported ($0.09) earnings per share (EPS) for the quarter. GSI Technology had a negative net margin of 43.15% and a negative return on equity of 22.69%. The firm had revenue of $6.08 million for the quarter.

Hedge Funds Weigh In On GSI Technology

Several institutional investors and hedge funds have recently modified their holdings of the business. Jones Financial Companies Lllp bought a new stake in GSI Technology during the 1st quarter worth approximately $80,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in GSI Technology in the second quarter valued at approximately $165,000. XTX Topco Ltd acquired a new position in shares of GSI Technology in the second quarter valued at approximately $246,000. Quadrature Capital Ltd acquired a new position in shares of GSI Technology in the second quarter valued at approximately $90,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of GSI Technology during the second quarter worth $535,000. 33.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of GSI Technology in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

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.