Insider Selling: GSI Technology (NASDAQ:GSIT) CEO Sells $307,954.68 in Stock

GSI Technology, Inc. (NASDAQ:GSIT) CEO Lee-Lean Shu sold 30,734 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $10.02, for a total value of $307,954.68. Following the sale, the chief executive officer directly owned 1,982,417 shares in the company, valued at $19,863,818.34. The trade was a 1.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• 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 value of $365,535.17.

GSI Technology Price Performance

Shares of GSI Technology stock traded down $1.29 during trading hours on Tuesday, hitting $8.48. The company’s stock had a trading volume of 1,977,057 shares, compared to its average volume of 799,494. The company has a market capitalization of $306.89 million, a PE ratio of -22.92 and a beta of 1.44. The stock has a 50 day moving average of $7.55 and a 200 day moving average of $6.69. GSI Technology, Inc. has a 12 month low of $1.62 and a 12 month high of $18.15.

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GSI Technology in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Institutional Trading of GSI Technology

Several hedge funds and other institutional investors have recently modified their holdings of GSIT. CIBC Private Wealth Group LLC bought a new stake in shares of GSI Technology in the fourth quarter valued at about $31,000. R Squared Ltd bought a new position in shares of GSI Technology during the third quarter worth about $38,000. Osaic Holdings Inc. grew its holdings in shares of GSI Technology by 52.1% during the second 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 in the last quarter. Bank of America Corp DE raised its position in GSI Technology by 8,247.6% in 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 last quarter. Finally, Prelude Capital Management LLC bought a new stake in GSI Technology in the 3rd quarter valued at approximately $52,000. Institutional investors and hedge funds 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.