GSI Technology (NASDAQ:GSIT) VP Ping Tak Wu Sells 30,000 Shares of Stock

GSI Technology, Inc. (NASDAQ:GSIT) VP Ping Tak Wu sold 30,000 shares of GSI Technology stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $11.01, for a total value of $330,300.00. Following the completion of the transaction, the vice president owned 148,441 shares in the company, valued at $1,634,335.41. This trade represents a 16.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Ping Tak Wu also recently made the following trade(s):

• On Tuesday, May 12th, Ping Tak Wu sold 11,763 shares of GSI Technology stock. The shares were sold at an average price of $10.80, for a total value of $127,040.40.

GSI Technology Price Performance

GSIT opened at $10.33 on Thursday. The business’s 50-day moving average is $7.41 and its two-hundred day moving average is $7.23. GSI Technology, Inc. has a 1 year low of $2.82 and a 1 year high of $18.15. The firm has a market capitalization of $373.84 million, a PE ratio of -25.20 and a beta of 1.94.

GSI Technology (NASDAQ:GSIT) last posted its earnings results on Thursday, May 7th. The semiconductor company reported ($0.13) earnings per share (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 analyst estimates of $7.30 million.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. 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 acquired a new position in GSI Technology during the 4th quarter valued at about $31,000. R Squared Ltd acquired a new position in GSI Technology during the 3rd quarter valued at about $38,000. Silverberg Bernstein Capital Management LLC increased its position in GSI Technology by 1.4% during the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 785,706 shares of the semiconductor company’s stock valued at $4,039,000 after buying an additional 11,200 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in GSI Technology during the 4th quarter valued at about $76,000. 33.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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