Key Points
- GSI Technology VP Bor-Tay Wu sold 20,000 shares on May 22 at an average price of $10.93, totaling $218,600. After the sale, Wu still held 912,500 shares valued at about $9.97 million.
- The stock rose 9.2% and opened at $10.55, trading well above its 50-day and 200-day moving averages of $7.40 and $7.21, respectively.
- Recent earnings showed mixed results: GSI Technology beat EPS expectations with a loss of $0.13 per share versus the expected $0.19 loss, but revenue came in below estimates at $6.32 million. Analysts currently maintain a consensus rating of Sell.
GSI Technology, Inc. (NASDAQ:GSIT - Get Free Report) VP Bor-Tay Wu sold 20,000 shares of the firm's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $10.93, for a total value of $218,600.00. Following the sale, the vice president owned 912,500 shares in the company, valued at $9,973,625. The trade was a 2.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
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 value of $346,400.00.
GSI Technology Stock Up 9.2%
NASDAQ GSIT opened at $10.55 on Wednesday. The stock's 50-day simple moving average is $7.40 and its two-hundred day simple moving average is $7.21. GSI Technology, Inc. has a twelve month low of $2.82 and a twelve month high of $18.15. The company has a market capitalization of $381.80 million, a price-to-earnings ratio of -25.73 and a beta of 1.94.
GSI Technology (NASDAQ:GSIT - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The semiconductor company reported ($0.13) earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $7.30 million.
Hedge Funds Weigh In On GSI Technology
Several large investors have recently made changes to their positions in GSIT. Jones Financial Companies Lllp purchased a new position in shares of GSI Technology during the first quarter valued at approximately $80,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of GSI Technology during the second quarter valued at approximately $535,000. Marshall Wace LLP purchased a new position in shares of GSI Technology during the second quarter valued at approximately $642,000. Jane Street Group LLC purchased a new position in shares of GSI Technology during the second quarter valued at approximately $342,000. Finally, Bank of America Corp DE lifted its holdings 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 purchasing an additional 13,526 shares during the last quarter. 33.15% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reaffirmed 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 currently has a consensus rating of "Sell".
Check Out Our Latest Analysis on GSIT
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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