GSI Technology (NASDAQ:GSIT) CEO Lee-Lean Shu Sells 30,734 Shares of Stock

GSI Technology, Inc. (NASDAQ:GSIT) CEO Lee-Lean Shu sold 30,734 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $10.02, for a total value of $307,954.68. Following the completion of the sale, the chief executive officer directly owned 1,982,417 shares of the company’s stock, valued at $19,863,818.34. This trade represents a 1.53% 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.

Lee-Lean Shu also recently made the following trade(s):

• On Tuesday, March 17th, Lee-Lean Shu sold 36,517 shares of GSI Technology stock. The shares were sold at an average price of $10.01, for a total transaction of $365,535.17.

GSI Technology Trading Down 13.2%

Shares of GSIT opened at $8.48 on Wednesday. GSI Technology, Inc. has a 12-month low of $1.62 and a 12-month high of $18.15. The firm has a 50-day moving average price of $7.55 and a 200 day moving average price of $6.69. The firm has a market capitalization of $306.86 million, a P/E ratio of -22.92 and a beta of 1.44.

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

Analyst Ratings Changes

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

Institutional Trading of GSI Technology

Hedge funds and other institutional investors have recently modified their holdings of the business. CIBC Private Wealth Group LLC purchased a new stake in GSI Technology in the 4th quarter valued at about $31,000. R Squared Ltd purchased a new position in GSI Technology during the third quarter worth about $38,000. Osaic Holdings Inc. increased its position in shares of GSI Technology by 52.1% during the second quarter. Osaic Holdings Inc. now owns 12,012 shares of the semiconductor company’s stock valued at $40,000 after acquiring an additional 4,112 shares during the last quarter. Bank of America Corp DE increased its position 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 acquiring an additional 13,526 shares during the last quarter. Finally, Prelude Capital Management LLC purchased a new stake in shares of GSI Technology in the 3rd quarter valued at approximately $52,000. 33.15% of the stock is owned by institutional investors and hedge funds.

GSI Technology Company Profile

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.