Bor-Tay Wu Sells 20,000 Shares of GSI Technology (NASDAQ:GSIT) Stock

GSI Technology, Inc. (NASDAQ:GSIT) VP Bor-Tay Wu sold 20,000 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $10.93, for a total transaction of $218,600.00. Following the transaction, the vice president directly owned 912,500 shares in the company, valued at $9,973,625. This trade represents a 2.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Bor-Tay Wu also recently made the following trade(s):

• On Tuesday, March 10th, Bor-Tay Wu sold 40,000 shares of GSI Technology stock. The shares were sold at an average price of $8.66, for a total transaction of $346,400.00.

GSI Technology Stock Up 9.2%

NASDAQ GSIT traded up $0.89 during midday trading on Tuesday, hitting $10.55. The company had a trading volume of 3,442,509 shares, compared to its average volume of 1,465,530. The stock has a market cap of $381.80 million, a price-to-earnings ratio of -25.73 and a beta of 1.94. The firm has a fifty day simple moving average of $7.35 and a two-hundred day simple moving average of $7.20. GSI Technology, Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $18.15.

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

Hedge Funds Weigh In On GSI Technology

A number of hedge funds have recently made changes to their positions in the business. Jones Financial Companies Lllp acquired a new position in GSI Technology in the first quarter worth about $80,000. Virtu Financial LLC bought a new position in GSI Technology during the fourth quarter worth about $76,000. Dynamic Technology Lab Private Ltd acquired a new stake in GSI Technology during the third quarter valued at approximately $69,000. NewEdge Advisors LLC acquired a new stake in GSI Technology during the third quarter valued at approximately $68,000. Finally, Prelude Capital Management LLC bought a new stake in shares of GSI Technology in the 3rd quarter valued at approximately $52,000. Institutional investors and hedge funds own 33.15% of the company’s stock.

Wall Street Analysts Forecast Growth

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

GSI Technology Company Profile

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.