Lee-Lean Shu Sells 10,313 Shares of GSI Technology (NASDAQ:GSIT) Stock

GSI Technology, Inc. (NASDAQ:GSIT) CEO Lee-Lean Shu sold 10,313 shares of GSI Technology stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $12.51, for a total value of $129,015.63. Following the sale, the chief executive officer owned 530,939 shares of the company’s stock, valued at approximately $6,642,046.89. This represents a 1.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, May 11th, Lee-Lean Shu sold 10,313 shares of GSI Technology stock. The stock was sold at an average price of $10.51, for a total value of $108,389.63.
• On Monday, May 11th, Lee-Lean Shu sold 132,749 shares of GSI Technology stock. The stock was sold at an average price of $11.54, for a total value of $1,531,923.46.
• On Monday, March 16th, Lee-Lean Shu sold 30,734 shares of GSI Technology stock. The stock was sold at an average price of $10.02, for a total value of $307,954.68.
• On Tuesday, March 17th, Lee-Lean Shu sold 36,517 shares of GSI Technology stock. The stock was sold at an average price of $10.01, for a total value of $365,535.17.

GSI Technology Trading Down 11.2%

GSI Technology stock opened at $9.64 on Friday. The stock has a market cap of $348.87 million, a PE ratio of -23.51 and a beta of 1.94. The stock has a 50-day moving average price of $7.25 and a 200 day moving average price of $7.28. GSI Technology, Inc. has a 52 week low of $2.82 and a 52 week high of $18.15.

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

Institutional Trading of GSI Technology

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

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of GSI Technology in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus 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.