GSI Technology (NASDAQ:GSIT) CFO Douglas Schirle Sells 40,000 Shares

GSI Technology, Inc. (NASDAQ:GSIT) CFO Douglas Schirle sold 40,000 shares of GSI Technology stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $11.32, for a total value of $452,800.00. Following the sale, the chief financial officer directly owned 69,046 shares in the company, valued at approximately $781,600.72. The trade was a 36.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

GSI Technology Trading Down 11.4%

Shares of GSIT stock traded down $1.40 during midday trading on Thursday, reaching $10.86. 4,298,294 shares of the stock were exchanged, compared to its average volume of 2,090,414. GSI Technology, Inc. has a 1 year low of $2.82 and a 1 year high of $18.15. The firm has a market cap of $393.02 million, a PE ratio of -26.49 and a beta of 1.94. The company’s 50 day moving average is $7.22 and its two-hundred day moving average is $7.26.

GSI Technology (NASDAQ:GSIT) last released its quarterly earnings results on Thursday, May 7th. The semiconductor company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.06. The company 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%.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed 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, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Institutional Trading of GSI Technology

Several hedge funds and other institutional investors have recently made changes to their positions in GSIT. Osaic Holdings Inc. increased its position in 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 buying an additional 4,112 shares in the last quarter. CIBC Private Wealth Group LLC bought a new stake in GSI Technology in the fourth quarter worth $31,000. R Squared Ltd purchased a new stake in shares of GSI Technology in the third quarter worth $38,000. Silverberg Bernstein Capital Management LLC grew its stake in shares of GSI Technology by 1.4% in the first quarter. Silverberg Bernstein Capital Management LLC now owns 785,706 shares of the semiconductor company’s stock worth $4,039,000 after acquiring an additional 11,200 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in shares of GSI Technology during the fourth quarter valued at $76,000. Hedge funds and other institutional investors own 33.15% of the company’s stock.

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.