GSI Technology (NASDAQ:GSIT) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

GSI Technology, Inc. (NASDAQ:GSIT)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $6.45 and traded as high as $8.69. GSI Technology shares last traded at $8.69, with a volume of 509,263 shares.

Analyst Ratings Changes

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

GSI Technology Price Performance

The company has a fifty day moving average of $7.42 and a 200-day moving average of $6.50. The firm has a market cap of $311.23 million, a P/E ratio of -23.24 and a beta of 1.44.

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

Insider Activity

In other news, VP Patrick T. Chuang sold 20,000 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $8.37, for a total value 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Bor-Tay Wu sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $8.66, for a total transaction of $346,400.00. Following the transaction, the vice president directly owned 912,500 shares in the company, valued at $7,902,250. The trade was a 4.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 25.40% of the company’s stock.

Hedge Funds Weigh In On GSI Technology

Several hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. boosted its stake in shares of 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. CIBC Private Wealth Group LLC bought a new position in shares of GSI Technology in the fourth quarter valued at approximately $31,000. R Squared Ltd purchased a new stake in shares of GSI Technology during the third quarter valued at approximately $38,000. Virtu Financial LLC bought a new stake in GSI Technology during the fourth quarter worth $76,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in GSI Technology during the fourth quarter worth $81,000. 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.