Key Points
- GSI Technology VP Patrick Chuang sold 40,000 shares on June 2 at an average price of $10.98, totaling about $439,200. After the sale, he held 15,166 shares, a 72.51% reduction in his position.
- The company recently beat EPS expectations but missed revenue estimates in its latest quarterly report. GSI Technology posted EPS of -$0.13 versus the -$0.19 consensus, while revenue came in at $6.32 million versus $7.30 million expected.
- Sentiment remains cautious around the stock, with Weiss Ratings reaffirming a “sell (d-)” rating and MarketBeat data showing an average analyst rating of “Sell.”
GSI Technology, Inc. (NASDAQ:GSIT - Get Free Report) VP Patrick Chuang sold 40,000 shares of GSI Technology stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $10.98, for a total transaction of $439,200.00. Following the completion of the sale, the vice president directly owned 15,166 shares in the company, valued at approximately $166,522.68. This represents a 72.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
GSI Technology Stock Performance
Shares of GSIT stock opened at $9.76 on Thursday. The firm has a market cap of $353.21 million, a price-to-earnings ratio of -23.80 and a beta of 2.00. GSI Technology, Inc. has a 52 week low of $2.82 and a 52 week high of $18.15. The firm's 50-day simple moving average is $7.79 and its two-hundred day simple moving average is $7.30.
GSI Technology (NASDAQ:GSIT - Get Free Report) last issued its earnings results on Thursday, May 7th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, beating 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%.
Analyst Ratings Changes
Separately, Weiss Ratings reissued 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, Based on data from MarketBeat.com, the stock has an average rating of "Sell".
Read Our Latest Research Report on GSIT
Institutional Trading of GSI Technology
Hedge funds and other institutional investors have recently made changes to their positions in the stock. CIBC Private Wealth Group LLC bought a new stake in shares of GSI Technology during the 4th quarter valued at $31,000. R Squared Ltd bought a new stake in GSI Technology during the 3rd quarter worth approximately $38,000. Osaic Holdings Inc. increased its holdings in GSI Technology by 52.1% during the 2nd quarter. Osaic Holdings Inc. now owns 12,012 shares of the semiconductor company's stock worth $40,000 after acquiring an additional 4,112 shares during the period. Virtu Financial LLC bought a new stake in GSI Technology during the 4th quarter worth approximately $76,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in GSI Technology during the 4th quarter worth approximately $81,000. 33.15% of the stock is currently owned by institutional investors.
GSI Technology Company Profile
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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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