Key Points
- GSI Technology CFO Douglas Schirle sold 40,000 shares on May 14 at an average price of $11.32, totaling $452,800. After the sale, he still owned 69,046 shares, and the transaction reduced his position by 36.68%.
- The stock fell 11.4% and opened Friday at $10.86. GSI Technology’s recent trading range has been wide, with a 52-week low of $2.82 and high of $18.15.
- Recent earnings showed a smaller-than-expected loss, with EPS of -$0.13 versus analyst expectations of -$0.19. However, revenue of $6.32 million missed the $7.30 million consensus estimate, and the stock still carries a consensus “Sell” rating.
GSI Technology, Inc. (NASDAQ:GSIT - Get Free Report) VP Ping Tak Wu sold 11,763 shares of the firm's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $10.80, for a total value of $127,040.40. Following the sale, the vice president directly owned 147,647 shares in the company, valued at approximately $1,594,587.60. This trade represents a 7.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
GSI Technology Stock Down 11.4%
GSI Technology stock opened at $10.86 on Friday. The firm has a market cap of $393.02 million, a price-to-earnings ratio of -26.49 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. The business's 50-day moving average price is $7.22 and its 200 day moving average price is $7.26.
GSI Technology (NASDAQ:GSIT - Get Free Report) last posted its earnings results on Thursday, May 7th. The semiconductor company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.06. The firm had revenue of $6.32 million for the quarter, compared to analyst estimates of $7.30 million. GSI Technology had a negative return on equity of 24.91% and a negative net margin of 52.73%.
Analysts Set New Price Targets
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, According to MarketBeat, GSI Technology has an average rating of "Sell".
Check Out Our Latest Stock Analysis on GSI Technology
Hedge Funds Weigh In On GSI Technology
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of GSI Technology by 8.8% in the third quarter. Vanguard Group Inc. now owns 937,711 shares of the semiconductor company's stock valued at $3,451,000 after acquiring an additional 75,882 shares in the last quarter. Silverberg Bernstein Capital Management LLC lifted its position in shares of GSI Technology by 1.4% in the first quarter. Silverberg Bernstein Capital Management LLC now owns 785,706 shares of the semiconductor company's stock valued at $4,039,000 after acquiring an additional 11,200 shares in the last quarter. Marshall Wace LLP lifted its position in shares of GSI Technology by 112.7% in the fourth quarter. Marshall Wace LLP now owns 727,077 shares of the semiconductor company's stock valued at $4,515,000 after acquiring an additional 385,185 shares in the last quarter. Two Sigma Investments LP lifted its position in shares of GSI Technology by 46.6% in the third 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 in the last quarter. Finally, Concentric Capital Strategies LP purchased a new position in shares of GSI Technology in the fourth quarter valued at approximately $2,116,000. Hedge funds and other institutional investors own 33.15% of the company's stock.
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.
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