GSI Technology, Inc. (NASDAQ:GSIT) Short Interest Down 24.2% in February

GSI Technology, Inc. (NASDAQ:GSIT) was the recipient of a large decrease in short interest in February. As of February 13th, there was short interest totaling 2,008,019 shares, a decrease of 24.2% from the January 29th total of 2,650,195 shares. Approximately 7.4% of the shares of the company are sold short. Based on an average daily volume of 961,187 shares, the short-interest ratio is currently 2.1 days. Based on an average daily volume of 961,187 shares, the short-interest ratio is currently 2.1 days. Approximately 7.4% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of GSI Technology in a report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of “Sell”.

GSI Technology Stock Performance

GSIT traded up $0.53 during trading on Monday, reaching $8.69. 1,486,190 shares of the company traded hands, compared to its average volume of 1,338,612. The company has a market cap of $314.49 million, a P/E ratio of -23.49 and a beta of 1.44. GSI Technology has a 12-month low of $1.62 and a 12-month high of $18.15. The firm has a fifty day simple moving average of $7.10 and a 200 day simple moving average of $6.23.

GSI Technology (NASDAQ:GSIT) last released its earnings results on Thursday, January 29th. The semiconductor company reported ($0.09) EPS for the quarter. GSI Technology had a negative return on equity of 22.69% and a negative net margin of 43.15%.The company had revenue of $6.08 million during the quarter.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Osaic Holdings Inc. increased its holdings in shares of GSI Technology by 52.1% in the second quarter. Osaic Holdings Inc. now owns 12,012 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 4,112 shares during the last quarter. CIBC Private Wealth Group LLC purchased a new position in GSI Technology during the 4th quarter valued at approximately $31,000. R Squared Ltd bought a new stake in GSI Technology in the 3rd quarter worth approximately $38,000. Virtu Financial LLC purchased a new stake in shares of GSI Technology during the 4th quarter worth approximately $76,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of GSI Technology during the 4th quarter valued at approximately $81,000. Hedge funds and other institutional investors own 33.15% of the company’s stock.

About GSI Technology

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.