GSI Technology (NASDAQ:GSIT) Shares Cross Above 200 Day Moving Average – Here’s What Happened

GSI Technology, Inc. (NASDAQ:GSIT)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $7.18 and traded as high as $7.50. GSI Technology shares last traded at $7.45, with a volume of 840,423 shares changing hands.

Wall Street Analyst Weigh In

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

GSI Technology Trading Up 9.8%

The company’s 50-day moving average price is $6.84 and its two-hundred day moving average price is $7.18. The company has a market cap of $296.03 million, a P/E ratio of -22.11 and a beta of 1.94.

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

Insider Activity

In other GSI Technology news, CEO Lee-Lean Shu sold 36,517 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $10.01, for a total transaction of $365,535.17. Following the completion of the sale, the chief executive officer directly owned 1,982,417 shares of the company’s stock, valued at approximately $19,843,994.17. This represents a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Bor-Tay Wu sold 40,000 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $8.66, for a total transaction of $346,400.00. Following the sale, the vice president directly owned 912,500 shares of the company’s stock, valued at $7,902,250. This represents a 4.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 127,251 shares of company stock worth $1,187,290. Corporate insiders own 25.40% of the company’s stock.

Institutional Trading of GSI Technology

A number of hedge funds have recently bought and sold shares of GSIT. Marshall Wace LLP lifted its stake in GSI Technology by 112.7% during the fourth quarter. Marshall Wace LLP now owns 727,077 shares of the semiconductor company’s stock valued at $4,515,000 after buying an additional 385,185 shares in the last quarter. Concentric Capital Strategies LP purchased a new stake in GSI Technology during the fourth quarter valued at about $2,116,000. UBS Group AG lifted its stake 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 in the last quarter. Jane Street Group LLC lifted its stake in GSI Technology by 270.3% during the fourth quarter. Jane Street Group LLC now owns 221,094 shares of the semiconductor company’s stock valued at $1,373,000 after buying an additional 161,380 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in GSI Technology during the second quarter valued at about $535,000. 33.15% of the stock is owned by hedge funds and other institutional investors.

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.