Insider Selling: GSI Technology (NASDAQ:GSIT) CEO Sells 10,313 Shares of Stock

GSI Technology, Inc. (NASDAQ:GSIT) CEO Lee-Lean Shu sold 10,313 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $12.51, for a total transaction of $129,015.63. Following the sale, the chief executive officer owned 530,939 shares of the company’s stock, valued at approximately $6,642,046.89. The trade was a 1.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, May 11th, Lee-Lean Shu sold 10,313 shares of GSI Technology stock. The shares were sold at an average price of $10.51, for a total value of $108,389.63.
• On Monday, May 11th, Lee-Lean Shu sold 132,749 shares of GSI Technology stock. The shares were sold at an average price of $11.54, for a total value of $1,531,923.46.
• On Monday, March 16th, Lee-Lean Shu sold 30,734 shares of GSI Technology stock. The stock was sold at an average price of $10.02, for a total value of $307,954.68.
• 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 NASDAQ GSIT traded down $1.40 during trading on Thursday, reaching $10.86. 4,298,294 shares of the stock traded hands, compared to its average volume of 2,090,414. The stock has a market capitalization of $393.02 million, a P/E ratio of -26.49 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 has a 50-day moving average of $7.22 and a 200-day moving average of $7.26.

GSI Technology (NASDAQ:GSIT) last announced its quarterly earnings data on Thursday, May 7th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. The business 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%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed 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 stock presently has a consensus rating of “Sell”.

Institutional Trading of GSI Technology

A number of institutional investors have recently added to or reduced their stakes in the stock. Silverberg Bernstein Capital Management LLC grew its holdings in GSI Technology by 1.4% during the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 785,706 shares of the semiconductor company’s stock valued at $4,039,000 after buying an additional 11,200 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of GSI Technology in the fourth quarter worth about $76,000. Millennium Management LLC bought a new position in shares of GSI Technology in the fourth quarter valued at approximately $285,000. Concentric Capital Strategies LP bought a new position in shares of GSI Technology in the fourth quarter valued at approximately $2,116,000. Finally, 683 Capital Management LLC purchased a new position in GSI Technology during the fourth quarter valued at approximately $738,000. Hedge funds and other 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.