GSI Technology (NASDAQ:GSIT) CFO Sells $452,800.00 in Stock

GSI Technology, Inc. (NASDAQ:GSIT) CFO Douglas Schirle sold 40,000 shares of GSI Technology stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $11.32, for a total transaction of $452,800.00. Following the completion of the transaction, the chief financial officer directly owned 69,046 shares in the company, valued at approximately $781,600.72. The trade was a 36.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

GSI Technology Stock Down 11.2%

Shares of NASDAQ GSIT opened at $9.64 on Friday. The company has a market cap of $348.87 million, a price-to-earnings ratio of -23.51 and a beta of 1.94. The firm’s fifty day moving average is $7.25 and its 200 day moving average is $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 released its quarterly earnings results on Thursday, May 7th. The semiconductor company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.06. The business had revenue of $6.32 million for the quarter, compared to analysts’ expectations of $7.30 million. GSI Technology had a negative net margin of 52.73% and a negative return on equity of 24.91%.

Analyst Upgrades and Downgrades

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

Institutional Trading of GSI Technology

A number of hedge funds have recently modified their holdings of GSIT. Millennium Management LLC bought a new position in GSI Technology in the 4th quarter worth about $285,000. Barclays PLC bought a new position in GSI Technology in the 4th quarter worth about $170,000. Schonfeld Strategic Advisors LLC bought a new position in GSI Technology in the 4th quarter worth about $81,000. Dynamic Technology Lab Private Ltd bought a new position in GSI Technology in the 3rd quarter worth about $69,000. Finally, NewEdge Advisors LLC bought a new position in GSI Technology in the 3rd quarter worth about $68,000. Institutional investors own 33.15% of the company’s stock.

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.