Lee-Lean Shu Sells 132,749 Shares of GSI Technology (NASDAQ:GSIT) Stock

GSI Technology, Inc. (NASDAQ:GSIT) CEO Lee-Lean Shu sold 132,749 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $11.54, for a total transaction of $1,531,923.46. Following the completion of the sale, the chief executive officer directly owned 1,982,417 shares in the company, valued at approximately $22,877,092.18. This trade represents a 6.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Lee-Lean Shu also recently made the following trade(s):

• On Monday, May 11th, Lee-Lean Shu sold 10,313 shares of GSI Technology stock. The shares were sold at an average price of $10.51, for a total transaction of $108,389.63.
• On Monday, March 16th, Lee-Lean Shu sold 30,734 shares of GSI Technology stock. The shares were sold at an average price of $10.02, for a total transaction of $307,954.68.
• On Tuesday, March 17th, Lee-Lean Shu sold 36,517 shares of GSI Technology stock. The shares were sold at an average price of $10.01, for a total transaction of $365,535.17.

GSI Technology Stock Performance

GSI Technology stock traded down $0.18 during midday trading on Tuesday, reaching $11.54. 4,848,902 shares of the stock were exchanged, compared to its average volume of 1,681,021. The company’s fifty day moving average is $7.10 and its 200-day moving average is $7.25. The firm has a market cap of $417.63 million, a PE ratio of -28.15 and a beta of 1.94. GSI Technology, Inc. has a 52 week low of $2.82 and a 52 week high of $18.15.

GSI Technology (NASDAQ:GSIT) last posted its earnings results on Thursday, May 7th. The semiconductor company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. The business had revenue of $6.32 million for the quarter, compared to analyst estimates of $7.30 million. GSI Technology had a negative net margin of 52.73% and a negative return on equity of 24.91%.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On GSI Technology

A number of institutional investors have recently made changes to their positions in the stock. Jones Financial Companies Lllp purchased a new stake in shares of GSI Technology in the 1st quarter valued at $80,000. Arrowstreet Capital Limited Partnership purchased a new stake in GSI Technology during the 2nd quarter valued at $535,000. Marshall Wace LLP purchased a new stake in GSI Technology during the 2nd quarter valued at $642,000. Jane Street Group LLC purchased a new stake in GSI Technology during the 2nd quarter valued at $342,000. Finally, Bank of America Corp DE boosted its position in GSI Technology by 8,247.6% during 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. Institutional investors own 33.15% of the company’s stock.

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.