Insider Selling: GSI Technology (NASDAQ:GSIT) VP Sells 30,000 Shares of Stock

GSI Technology, Inc. (NASDAQ:GSIT) VP Ping Tak Wu sold 30,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $11.01, for a total value of $330,300.00. Following the sale, the vice president directly owned 148,441 shares of the company’s stock, valued at $1,634,335.41. This represents a 16.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Ping Tak Wu also recently made the following trade(s):

• On Tuesday, May 12th, Ping Tak Wu sold 11,763 shares of GSI Technology stock. The shares were sold at an average price of $10.80, for a total value of $127,040.40.

GSI Technology Price Performance

GSI Technology stock traded down $0.22 during mid-day trading on Wednesday, hitting $10.33. 2,835,090 shares of the company’s stock traded hands, compared to its average volume of 1,479,567. The firm has a 50 day simple moving average of $7.40 and a two-hundred day simple moving average of $7.21. GSI Technology, Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $18.15. The stock has a market cap of $373.80 million, a price-to-earnings ratio of -25.20 and a beta of 1.94.

GSI Technology (NASDAQ:GSIT) last announced its quarterly earnings results 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. GSI Technology had a negative return on equity of 24.91% and a negative net margin of 52.73%.The business had revenue of $6.32 million during the quarter, compared to the consensus estimate of $7.30 million.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GSI Technology in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Institutional Trading of GSI Technology

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in GSI Technology by 8.8% in the 3rd quarter. Vanguard Group Inc. now owns 937,711 shares of the semiconductor company’s stock valued at $3,451,000 after purchasing an additional 75,882 shares during the period. 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 valued at $4,039,000 after purchasing an additional 11,200 shares during the period. Marshall Wace LLP boosted its stake in GSI Technology by 112.7% in the 4th quarter. Marshall Wace LLP now owns 727,077 shares of the semiconductor company’s stock valued at $4,515,000 after purchasing an additional 385,185 shares during the period. Two Sigma Investments LP lifted its position in shares of GSI Technology by 46.6% during the 3rd quarter. Two Sigma Investments LP now owns 391,258 shares of the semiconductor company’s stock valued at $1,440,000 after acquiring an additional 124,360 shares during the period. Finally, Concentric Capital Strategies LP bought a new stake in shares of GSI Technology during the 4th quarter valued at $2,116,000. 33.15% of the stock is currently owned by institutional investors.

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.