Ping Tak Wu Sells 11,763 Shares of GSI Technology (NASDAQ:GSIT) Stock

GSI Technology, Inc. (NASDAQ:GSIT) VP Ping Tak Wu sold 11,763 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $10.80, for a total transaction of $127,040.40. Following the completion of the sale, the vice president owned 147,647 shares in the company, valued at approximately $1,594,587.60. This trade represents a 7.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

GSI Technology Stock Down 11.4%

Shares of GSIT stock traded down $1.40 during trading hours on Thursday, hitting $10.86. 4,298,294 shares of the company’s stock traded hands, compared to its average volume of 2,090,414. The stock’s fifty day simple moving average is $7.22 and its two-hundred day simple moving average is $7.26. GSI Technology, Inc. has a 12-month low of $2.82 and a 12-month high of $18.15. The stock has a market cap of $393.02 million, a price-to-earnings ratio of -26.49 and a beta of 1.94.

GSI Technology (NASDAQ:GSIT) last posted its quarterly earnings data on Thursday, May 7th. The semiconductor company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. The company had revenue of $6.32 million during 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%.

Institutional Trading of GSI Technology

A number of institutional investors and hedge funds have recently modified their holdings of GSIT. Osaic Holdings Inc. raised its stake in shares of GSI Technology by 52.1% in the second quarter. Osaic Holdings Inc. now owns 12,012 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 4,112 shares during the last quarter. CIBC Private Wealth Group LLC bought a new stake in GSI Technology in the 4th quarter worth about $31,000. R Squared Ltd bought a new position in GSI Technology during the 3rd quarter valued at about $38,000. Silverberg Bernstein Capital Management LLC boosted its holdings in shares of 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 acquiring an additional 11,200 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of GSI Technology in the fourth quarter worth approximately $76,000. Institutional investors own 33.15% of the company’s stock.

Analyst Upgrades and Downgrades

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