Key Points
- GSI Technology VP Ping Tak Wu sold 30,000 shares on May 26 at an average price of $11.01, totaling about $330,300 and reducing his ownership by 16.81%.
- Wu also sold 11,763 shares earlier in May at an average price of $10.80, indicating recent insider selling activity in the stock.
- The stock has mixed signals: GSI Technology beat EPS estimates in its latest quarter but missed on revenue, and the company currently carries a consensus Sell rating.
GSI Technology, Inc. (NASDAQ:GSIT - Get Free Report) VP Ping Tak Wu sold 30,000 shares of the firm's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $11.01, for a total value of $330,300.00. Following the completion of the transaction, the vice president owned 148,441 shares of the company's stock, valued at approximately $1,634,335.41. The trade was a 16.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Ping Tak Wu also recently made the following trade(s):
- On Tuesday, May 12th, Ping Tak Wu sold 11,763 shares of GSI Technology stock. The stock was sold at an average price of $10.80, for a total value of $127,040.40.
GSI Technology Stock Down 2.1%
Shares of NASDAQ GSIT opened at $10.33 on Thursday. The business's 50 day moving average price is $7.41 and its 200 day moving average price is $7.23. The firm has a market cap of $373.84 million, a P/E ratio of -25.20 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 - Get Free Report) last issued its earnings results on Thursday, May 7th. The semiconductor company reported ($0.13) EPS for the quarter, beating analysts' consensus estimates 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%.
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 equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of "Sell".
Get Our Latest Report on GSI Technology
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in GSI Technology by 8.8% during the third quarter. Vanguard Group Inc. now owns 937,711 shares of the semiconductor company's stock valued at $3,451,000 after purchasing an additional 75,882 shares during the period. Silverberg Bernstein Capital Management LLC lifted its position in GSI Technology by 1.4% during 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 purchasing an additional 11,200 shares during the period. Marshall Wace LLP lifted its position in GSI Technology by 112.7% during the fourth quarter. Marshall Wace LLP now owns 727,077 shares of the semiconductor company's stock valued at $4,515,000 after purchasing an additional 385,185 shares during the period. Two Sigma Investments LP lifted its position in GSI Technology by 46.6% during the third quarter. Two Sigma Investments LP now owns 391,258 shares of the semiconductor company's stock valued at $1,440,000 after purchasing an additional 124,360 shares during the period. Finally, Concentric Capital Strategies LP acquired a new position in GSI Technology during the fourth quarter valued at $2,116,000. 33.15% of the stock is currently owned by institutional investors and hedge funds.
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
