Insider Selling: GSI Technology (NASDAQ:GSIT) VP Sells $439,200.00 in Stock

GSI Technology, Inc. (NASDAQ:GSIT) VP Patrick Chuang sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $10.98, for a total value of $439,200.00. Following the completion of the sale, the vice president directly owned 15,166 shares of the company’s stock, valued at $166,522.68. The trade was a 72.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

GSI Technology Price Performance

NASDAQ:GSIT opened at $8.01 on Friday. The firm has a market capitalization of $289.88 million, a price-to-earnings ratio of -19.54 and a beta of 2.00. GSI Technology, Inc. has a 1 year low of $2.82 and a 1 year high of $18.15. The business has a 50 day simple moving average of $7.90 and a 200-day simple moving average of $7.32.

GSI Technology (NASDAQ:GSIT) last posted its quarterly earnings data on Thursday, May 7th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.06. The business had revenue of $6.32 million during the quarter, compared to analyst estimates of $7.30 million. GSI Technology had a negative return on equity of 24.91% and a negative net margin of 52.73%.

Institutional Investors Weigh In On GSI Technology

A number of institutional investors and hedge funds have recently modified their holdings of the business. Osaic Holdings Inc. lifted its stake in shares of GSI Technology by 52.1% during the 2nd quarter. Osaic Holdings Inc. now owns 12,012 shares of the semiconductor company’s stock worth $40,000 after acquiring an additional 4,112 shares during the last quarter. CIBC Private Wealth Group LLC bought a new stake in shares of GSI Technology during the 4th quarter worth approximately $31,000. R Squared Ltd bought a new stake in shares of GSI Technology during the 3rd quarter worth approximately $38,000. Silverberg Bernstein Capital Management LLC lifted its stake in shares of GSI Technology by 1.4% during the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 785,706 shares of the semiconductor company’s stock worth $4,039,000 after acquiring an additional 11,200 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of GSI Technology during the 4th quarter worth approximately $76,000. 33.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GSI Technology in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, GSI Technology currently 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.