GSI Technology (NASDAQ:GSIT) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

GSI Technology, Inc. (NASDAQ:GSIT) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $7.42 and traded as high as $7.69. GSI Technology shares last traded at $7.36, with a volume of 922,643 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on GSIT shares. Wall Street Zen downgraded shares of GSI Technology from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. 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 data from MarketBeat, the stock presently has an average rating of “Sell”.

GSI Technology Price Performance

The stock has a fifty day moving average price of $8.44 and a two-hundred day moving average price of $7.41. The company has a market cap of $253.60 million, a P/E ratio of -16.17 and a beta of 2.00.

GSI Technology (NASDAQ:GSIT) last issued its quarterly earnings data on Thursday, May 7th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 21.96% and a negative net margin of 52.73%.

Insider Activity at GSI Technology

In other news, VP Ping Tak Wu sold 30,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $11.01, for a total transaction of $330,300.00. Following the transaction, the vice president directly owned 148,441 shares of the company’s stock, valued at approximately $1,634,335.41. This trade represents a 16.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Patrick T. Chuang sold 40,000 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $10.98, for a total transaction of $439,200.00. Following the completion of the transaction, the vice president owned 15,166 shares of the company’s stock, valued at $166,522.68. This represents a 72.51% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 385,138 shares of company stock valued at $4,273,363. 25.40% of the stock is owned by corporate insiders.

Institutional Trading of GSI Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. 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 worth $4,515,000 after purchasing an additional 385,185 shares during the period. Concentric Capital Strategies LP acquired a new stake in GSI Technology during the 4th quarter valued at $2,116,000. UBS Group AG lifted its holdings in shares of GSI Technology by 9,603.2% in the third quarter. UBS Group AG now owns 167,672 shares of the semiconductor company’s stock valued at $617,000 after purchasing an additional 165,944 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of GSI Technology by 270.3% in the fourth quarter. Jane Street Group LLC now owns 221,094 shares of the semiconductor company’s stock valued at $1,373,000 after purchasing an additional 161,380 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of GSI Technology in the second quarter worth $535,000. 33.15% of the stock is owned by institutional investors and hedge funds.

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.