Insider Selling: GSI Technology (NASDAQ:GSIT) VP Sells $218,600.00 in Stock

GSI Technology, Inc. (NASDAQ:GSIT) VP Bor-Tay Wu sold 20,000 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $10.93, for a total transaction of $218,600.00. Following the completion of the transaction, the vice president owned 912,500 shares of the company’s stock, valued at $9,973,625. This represents a 2.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Bor-Tay Wu also recently made the following trade(s):

• On Tuesday, March 10th, Bor-Tay Wu sold 40,000 shares of GSI Technology stock. The shares were sold at an average price of $8.66, for a total transaction of $346,400.00.

GSI Technology Stock Up 3.0%

Shares of GSIT opened at $10.64 on Friday. The firm has a 50-day moving average price of $7.45 and a 200 day moving average price of $7.24. The firm has a market capitalization of $385.06 million, a PE ratio of -25.95 and a beta of 1.94. GSI Technology, Inc. has a 52-week low of $2.82 and a 52-week high of $18.15.

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

Institutional Investors Weigh In On GSI Technology

Institutional investors and hedge funds have recently bought and sold shares of the business. CIBC Private Wealth Group LLC acquired a new stake in GSI Technology in the 4th quarter valued at about $31,000. R Squared Ltd acquired a new stake in GSI Technology in the 3rd quarter valued at about $38,000. Osaic Holdings Inc. lifted its holdings in GSI Technology by 52.1% in the 2nd quarter. Osaic Holdings Inc. now owns 12,012 shares of the semiconductor company’s stock valued at $40,000 after acquiring an additional 4,112 shares during the last quarter. Virtu Financial LLC acquired a new stake in GSI Technology in the 4th quarter valued at about $76,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in GSI Technology in the 4th quarter valued at about $81,000. 33.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.