GSI Technology (NASDAQ:GSIT) VP Avidan Akerib Sells 19,653 Shares

GSI Technology, Inc. (NASDAQ:GSIT) VP Avidan Akerib sold 19,653 shares of the stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $11.47, for a total value of $225,419.91. Following the sale, the vice president owned 23,307 shares in the company, valued at approximately $267,331.29. This represents a 45.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Avidan Akerib also recently made the following trade(s):

• On Tuesday, May 12th, Avidan Akerib sold 347 shares of GSI Technology stock. The stock was sold at an average price of $12.03, for a total value of $4,174.41.

GSI Technology Price Performance

GSIT stock opened at $12.26 on Thursday. The stock has a market capitalization of $443.69 million, a P/E ratio of -29.90 and a beta of 1.94. GSI Technology, Inc. has a 1-year low of $2.82 and a 1-year high of $18.15. The business has a fifty day moving average price of $7.17 and a 200-day moving average price of $7.25.

GSI Technology (NASDAQ:GSIT) last released its quarterly earnings data on Thursday, May 7th. The semiconductor company reported ($0.13) EPS for the quarter, beating the consensus estimate 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 company had revenue of $6.32 million for the quarter, compared to analysts’ expectations of $7.30 million.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Marshall Wace LLP grew its stake in shares of GSI Technology by 112.7% during the 4th 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. Concentric Capital Strategies LP bought a new stake in GSI Technology during the fourth quarter valued at approximately $2,116,000. UBS Group AG increased its holdings in GSI Technology by 9,603.2% during the third quarter. UBS Group AG now owns 167,672 shares of the semiconductor company’s stock valued at $617,000 after buying an additional 165,944 shares during the last quarter. Jane Street Group LLC raised its position in GSI Technology by 270.3% in the fourth quarter. Jane Street Group LLC now owns 221,094 shares of the semiconductor company’s stock worth $1,373,000 after acquiring an additional 161,380 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of GSI Technology during the 2nd quarter worth $535,000. Institutional investors own 33.15% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of GSI Technology in a report on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, GSI Technology has an average rating of “Sell”.

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.