GSI Technology, Inc. (NASDAQ:GSIT) Sees Significant Growth in Short Interest

GSI Technology, Inc. (NASDAQ:GSIT) saw a significant increase in short interest in the month of January. As of January 15th, there was short interest totaling 2,853,112 shares, an increase of 45.0% from the December 31st total of 1,967,706 shares. Based on an average trading volume of 1,897,698 shares, the short-interest ratio is currently 1.5 days. Currently, 10.9% of the shares of the company are short sold. Currently, 10.9% of the shares of the company are short sold. Based on an average trading volume of 1,897,698 shares, the short-interest ratio is currently 1.5 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GSI Technology in a research note on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

GSI Technology Stock Performance

Shares of GSI Technology stock traded up $0.01 during midday trading on Monday, hitting $7.23. 1,016,756 shares of the company traded hands, compared to its average volume of 1,719,529. The firm’s fifty day moving average price is $6.90 and its 200-day moving average price is $5.89. The stock has a market cap of $254.79 million, a price-to-earnings ratio of -19.54 and a beta of 1.45. GSI Technology has a 12 month low of $1.62 and a 12 month high of $18.15.

GSI Technology (NASDAQ:GSIT) last posted its earnings results on Thursday, January 29th. The semiconductor company reported ($0.09) earnings per share for the quarter. GSI Technology had a negative return on equity of 30.68% and a negative net margin of 43.15%.The company had revenue of $6.08 million for the quarter.

Insider Activity at GSI Technology

In other news, VP Avidan Akerib sold 135,286 shares of the stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $9.05, for a total transaction of $1,224,338.30. Following the transaction, the vice president owned 23,307 shares in the company, valued at approximately $210,928.35. This trade represents a 85.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Patrick T. Chuang sold 40,000 shares of GSI Technology stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $8.66, for a total value of $346,400.00. Following the sale, the vice president directly owned 15,166 shares of the company’s stock, valued at approximately $131,337.56. The trade was a 72.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 230,018 shares of company stock worth $2,038,150 in the last ninety days. 25.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. R Squared Ltd acquired a new stake in GSI Technology in the third quarter worth $38,000. Osaic Holdings Inc. boosted its position in shares of GSI Technology by 52.1% during the 2nd 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 in the last quarter. Bank of America Corp DE grew its stake in shares of GSI Technology by 8,247.6% in the 2nd quarter. Bank of America Corp DE now owns 13,690 shares of the semiconductor company’s stock valued at $46,000 after buying an additional 13,526 shares during the period. Prelude Capital Management LLC bought a new stake in GSI Technology in the 3rd quarter valued at about $52,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in GSI Technology during the 2nd quarter worth approximately $55,000. 33.15% of the stock is owned by institutional investors and hedge funds.

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.