Spark Investment Management LLC Has $543,000 Stake in GSI Technology, Inc. (GSIT)
Spark Investment Management LLC decreased its position in GSI Technology, Inc. (NASDAQ:GSIT) by 15.0% during the second quarter, Holdings Channel reports. The firm owned 69,100 shares of the semiconductor company’s stock after selling 12,200 shares during the period. Spark Investment Management LLC’s holdings in GSI Technology were worth $543,000 at the end of the most recent quarter.
Separately, Strs Ohio acquired a new position in shares of GSI Technology during the second quarter worth about $146,000. Institutional investors own 25.74% of the company’s stock.
GSI Technology, Inc. (GSIT) opened at 6.61 on Friday. The stock’s market capitalization is $138.88 million. The stock’s 50 day moving average price is $7.68 and its 200-day moving average price is $7.61. GSI Technology, Inc. has a 52 week low of $4.46 and a 52 week high of $9.68.
GSI Technology (NASDAQ:GSIT) last released its quarterly earnings results on Thursday, July 27th. The semiconductor company reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.02 by $0.09. The business had revenue of $10.69 million for the quarter, compared to the consensus estimate of $11.50 million. GSI Technology had a negative net margin of 4.11% and a negative return on equity of 2.19%. The business’s quarterly revenue was down 17.4% on a year-over-year basis. During the same period last year, the firm posted $0.01 EPS. Equities research analysts expect that GSI Technology, Inc. will post $0.01 earnings per share for the current year.
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Separately, Needham & Company LLC reissued a “hold” rating on shares of GSI Technology in a research note on Monday, July 31st.
GSI Technology Company Profile
GSI Technology, Inc is a provider of Very Fast static random access memory (SRAM) products and low latency dynamic random access memory (LLDRAM) products. The Company operates through the design, development and sale of integrated circuits segment. Its products are incorporated primarily in high-performance networking and telecommunications equipment, such as routers, switches, area network infrastructure equipment, wireless base stations and network access equipment.
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