Key Points
- GSI Technology VP Patrick Chuang sold 40,000 shares on May 12 at an average price of $10.68, totaling about $427,200. After the sale, he directly owned 15,166 shares, cutting his position by 72.51%.
- The company recently reported earnings that beat EPS expectations, posting a loss of $0.13 per share versus analyst estimates for a $0.19 loss. However, revenue of $6.32 million came in below the expected $7.30 million.
- Sentiment on GSIT remains cautious, with Weiss Ratings reiterating a "sell (d-)" rating and MarketBeat showing a consensus rating of "Sell." The stock was trading at $12.26 and has moved between $2.82 and $18.15 over the past year.
GSI Technology, Inc. (NASDAQ:GSIT - Get Free Report) VP Avidan Akerib sold 19,653 shares of the business's stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $11.47, for a total value of $225,419.91. Following the sale, the vice president directly owned 23,307 shares of the company's stock, valued at $267,331.29. This represents a 45.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Avidan Akerib also recently made the following trade(s):
- On Tuesday, May 12th, Avidan Akerib sold 347 shares of GSI Technology stock. The stock was sold at an average price of $12.03, for a total value of $4,174.41.
GSI Technology Stock Up 6.2%
GSIT stock opened at $12.26 on Thursday. GSI Technology, Inc. has a twelve month low of $2.82 and a twelve month high of $18.15. The stock has a market cap of $443.69 million, a P/E ratio of -29.90 and a beta of 1.94. The business's 50-day moving average price is $7.17 and its 200-day moving average price is $7.25.
GSI Technology (NASDAQ:GSIT - Get Free Report) last released its earnings results on Thursday, May 7th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.06. GSI Technology had a negative net margin of 52.73% and a negative return on equity of 24.91%. The company had revenue of $6.32 million during the quarter, compared to analyst estimates of $7.30 million.
Institutional Trading of GSI Technology
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CIBC Private Wealth Group LLC purchased a new position in GSI Technology in the 4th quarter worth approximately $31,000. R Squared Ltd purchased a new stake in GSI Technology during the 3rd quarter valued at approximately $38,000. Osaic Holdings Inc. raised its position in shares of GSI Technology by 52.1% during the second quarter. Osaic Holdings Inc. now owns 12,012 shares of the semiconductor company's stock valued at $40,000 after buying an additional 4,112 shares during the last quarter. Bank of America Corp DE raised its position in shares of GSI Technology by 8,247.6% during the second quarter. Bank of America Corp DE now owns 13,690 shares of the semiconductor company's stock valued at $46,000 after buying an additional 13,526 shares during the last quarter. Finally, Prelude Capital Management LLC purchased a new position in shares of GSI Technology in the third quarter worth $52,000. Institutional investors own 33.15% of the company's stock.
Wall Street Analyst Weigh In
Separately, Weiss Ratings restated 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, According to MarketBeat.com, the stock currently has a consensus rating of "Sell".
Read Our Latest Report on GSI Technology
About GSI Technology
(
Get Free Report)
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.
Further Reading
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