GSI Technology (NASDAQ:GSIT) VP Patrick Chuang Sells 40,000 Shares

GSI Technology, Inc. (NASDAQ:GSIT) VP Patrick Chuang sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $10.68, for a total value of $427,200.00. Following the completion of the sale, the vice president directly owned 15,166 shares in the company, valued at approximately $161,972.88. The trade was a 72.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

GSI Technology Stock Up 6.2%

Shares of NASDAQ GSIT traded up $0.72 during trading hours on Wednesday, reaching $12.26. 4,390,786 shares of the stock traded hands, compared to its average volume of 1,895,806. The company has a market capitalization of $443.69 million, a P/E ratio of -29.90 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. The company’s 50-day simple moving average is $7.17 and its two-hundred day simple moving average is $7.25.

GSI Technology (NASDAQ:GSIT) last announced 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 for the quarter, compared to analysts’ expectations of $7.30 million. GSI Technology had a negative return on equity of 24.91% and a negative net margin of 52.73%.

Hedge Funds Weigh In On GSI Technology

Several institutional investors and hedge funds have recently bought and sold shares of GSIT. Jones Financial Companies Lllp bought a new position in GSI Technology during the 1st quarter worth approximately $80,000. Arrowstreet Capital Limited Partnership bought a new position in GSI Technology during the 2nd quarter worth approximately $535,000. Marshall Wace LLP bought a new position in GSI Technology during the 2nd quarter worth approximately $642,000. Jane Street Group LLC bought a new position in GSI Technology during the 2nd quarter worth approximately $342,000. Finally, Bank of America Corp DE grew 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 worth $46,000 after acquiring an additional 13,526 shares during the last quarter. 33.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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