Insider Selling: GSI Technology (NASDAQ:GSIT) VP Sells $167,400.00 in Stock

GSI Technology, Inc. (NASDAQ:GSIT) VP Patrick Chuang sold 20,000 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $8.37, for a total transaction of $167,400.00. Following the completion of the sale, the vice president owned 15,166 shares in the company, valued at $126,939.42. This represents a 56.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

GSI Technology Price Performance

GSIT opened at $8.29 on Thursday. The company has a fifty day moving average price of $7.24 and a 200-day moving average price of $6.32. The firm has a market capitalization of $300.02 million, a P/E ratio of -22.40 and a beta of 1.44. GSI Technology, Inc. has a one year low of $1.62 and a one year high of $18.15.

GSI Technology (NASDAQ:GSIT) last issued its quarterly earnings data on Thursday, January 29th. The semiconductor company reported ($0.09) earnings per share (EPS) for the quarter. The business had revenue of $6.08 million during the quarter. GSI Technology had a negative return on equity of 22.69% and a negative net margin of 43.15%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On GSI Technology

Several hedge funds have recently added to or reduced their stakes in GSIT. CIBC Private Wealth Group LLC purchased a new position in shares of GSI Technology in the 4th quarter worth about $31,000. R Squared Ltd bought a new stake in GSI Technology in the 3rd quarter worth approximately $38,000. Osaic Holdings Inc. lifted its position in GSI Technology by 52.1% in the 2nd quarter. Osaic Holdings Inc. now owns 12,012 shares of the semiconductor company’s stock worth $40,000 after buying an additional 4,112 shares during the last quarter. Bank of America Corp DE boosted its stake in GSI Technology by 8,247.6% in the second quarter. Bank of America Corp DE now owns 13,690 shares of the semiconductor company’s stock worth $46,000 after buying an additional 13,526 shares in the last quarter. Finally, Prelude Capital Management LLC bought a new position in GSI Technology during the third quarter valued at approximately $52,000. Institutional investors own 33.15% of the company’s stock.

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.