GSI Technology (NASDAQ:GSIT) Announces Quarterly Earnings Results, Beats Estimates By $0.06 EPS

GSI Technology (NASDAQ:GSIT) released its quarterly earnings results on Thursday. The semiconductor company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06, FiscalAI reports. GSI Technology had a negative return on equity of 21.96% and a negative net margin of 52.73%.The firm had revenue of $6.31 million during the quarter, compared to analysts’ expectations of $7.30 million.

Here are the key takeaways from GSI Technology’s conference call:

• Gemini-II commercialization is advancing, with the company completing key deliverables for the Sentinel proof of concept and remaining on track to deploy its Smart City Phase 1 project across 20 cameras by November.
• GSI reported successful Gemini-II radiation testing with no single-event latch-ups, potentially expanding the platform into low-power AI applications for satellites, aerospace, defense, and other harsh environments.
• The AI-assisted SDK is targeted for alpha release this fall; management said early testing reduced one representative model-porting effort from roughly a year to less than a month, which could accelerate customer adoption and system-integrator engagement.
• GSI remains on schedule to tape out its next-generation Plato processor in March 2027 and ended the quarter with $77 million in cash and no debt, providing funding for development and customer evaluations.
• First-quarter revenue was $6.3 million, while operating expenses rose to $8.8 million and the operating loss widened to $5.4 million as the company invested in Gemini-II software and Plato; second-quarter revenue is expected to decline to $5.7 million–$6.5 million.

GSI Technology Trading Up 11.4%

NASDAQ GSIT traded up $0.60 during mid-day trading on Thursday, reaching $5.85. 1,072,786 shares of the company’s stock traded hands, compared to its average volume of 733,419. GSI Technology has a 1-year low of $2.82 and a 1-year high of $18.15. The company has a fifty day simple moving average of $7.42 and a 200-day simple moving average of $7.37. The company has a market cap of $224.46 million, a price-to-earnings ratio of -14.27 and a beta of 2.06.

Insider Buying and Selling

In other GSI Technology news, CFO Douglas Schirle sold 40,000 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $11.32, for a total transaction of $452,800.00. Following the transaction, the chief financial officer directly owned 69,046 shares in the company, valued at $781,600.72. This represents a 36.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Ping Tak Wu sold 30,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $11.01, for a total transaction of $330,300.00. Following the transaction, the vice president directly owned 148,441 shares of the company’s stock, valued at approximately $1,634,335.41. This represents a 16.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 385,138 shares of company stock worth $4,273,363 over the last 90 days. 16.60% of the stock is currently owned by corporate insiders.

Institutional Trading of GSI Technology

Hedge funds and other institutional investors have recently bought and sold shares of the company. CIBC Private Wealth Group LLC bought a new position in GSI Technology during the 4th quarter worth approximately $31,000. Osaic Holdings Inc. raised its position in shares of GSI Technology by 52.1% during the 2nd 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 in the last quarter. Bank of America Corp DE lifted its stake in 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 worth $46,000 after purchasing an additional 13,526 shares during the last quarter. Prelude Capital Management LLC acquired a new position in GSI Technology in the third quarter worth $52,000. Finally, NewEdge Advisors LLC bought a new stake in GSI Technology during the third quarter valued at $68,000. 33.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on GSIT. Wall Street Zen lowered shares of GSI Technology from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GSI Technology in a report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, GSI Technology presently 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.