GSI Technology (NASDAQ:GSIT) Stock Dropped to “Strong Sell” by Wall Street Zen

Wall Street Zen cut shares of GSI Technology (NASDAQ:GSIT) from a sell rating to a strong sell rating in a research note published on Saturday,Wall Street Zen reports.

A number of other research analysts have also recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of GSI Technology in a report on Thursday, October 15th. Needham & Company LLC reiterated a “buy” rating and issued a $9.00 price objective on shares of GSI Technology in a research report on Thursday, October 22nd. Finally, Williams Trading set a $9.00 target price on GSI Technology in a research note on Monday, September 14th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, GSI Technology presently has a consensus rating of “Hold” and a consensus target price of $9.00.

GSI Technology Trading Down 4.0%

GSI Technology stock traded down $0.13 during midday trading on Friday, hitting $3.09. 530,891 shares of the stock were exchanged, compared to its average volume of 496,176. The stock’s 50-day simple moving average is $4.61 and its 200 day simple moving average is $6.50. GSI Technology has a fifty-two week low of $2.92 and a fifty-two week high of $13.00. The stock has a market capitalization of $118.97 million, a price-to-earnings ratio of -5.83 and a beta of 2.26.

GSI Technology (NASDAQ:GSIT) last posted its earnings results on Thursday, November 5th. The semiconductor company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.06). GSI Technology had a negative net margin of 79.50% and a negative return on equity of 22.89%. The firm had revenue of $6.02 million during the quarter, compared to analyst estimates of $6.25 million.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in shares of GSI Technology during the second quarter worth $77,000. Allworth Financial LP purchased a new stake in shares of GSI Technology in the 2nd quarter valued at $86,000. Algert Global LLC acquired a new position in GSI Technology during the 2nd quarter worth about $153,000. HB Wealth Management LLC acquired a new position in GSI Technology during the 2nd quarter worth about $155,000. Finally, Deutsche Bank AG acquired a new position in GSI Technology during the 2nd quarter worth about $243,000. 33.15% of the stock is currently owned by institutional investors and hedge funds.

GSI Technology Company Profile

GSI Technology is a fabless semiconductor company that develops and sells high-performance memory products and specialized processors. Its memory portfolio includes static random-access memory (SRAM) and other memory devices used in systems that require fast, reliable data access. The company has also developed its Associative Processing Unit (APU) technology, which is designed to perform data-intensive computing tasks. GSI has positioned its APUs for applications such as artificial intelligence, machine learning, database searching and cybersecurity, alongside its established memory business.