GSI Technology (NASDAQ:GSIT) VP Sells $127,040.40 in Stock

GSI Technology, Inc. (NASDAQ:GSIT) VP Ping Tak Wu sold 11,763 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $10.80, for a total value of $127,040.40. Following the transaction, the vice president owned 147,647 shares in the company, valued at $1,594,587.60. This represents a 7.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

GSI Technology Trading Down 11.2%

Shares of GSIT stock opened at $9.64 on Friday. The company has a market capitalization of $348.87 million, a P/E ratio of -23.51 and a beta of 1.94. The business’s 50 day moving average is $7.25 and its two-hundred day moving average is $7.28. GSI Technology, Inc. has a 12-month low of $2.82 and a 12-month high of $18.15.

GSI Technology (NASDAQ:GSIT) last released its earnings results on Thursday, May 7th. The semiconductor company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.06. The business had revenue of $6.32 million for the quarter, compared to the consensus estimate of $7.30 million. GSI Technology had a negative return on equity of 24.91% and a negative net margin of 52.73%.

Institutional Investors Weigh In On GSI Technology

Several hedge funds and other institutional investors have recently made changes to their positions in GSIT. Marshall Wace LLP increased its holdings in shares of GSI Technology by 112.7% in the fourth quarter. Marshall Wace LLP now owns 727,077 shares of the semiconductor company’s stock valued at $4,515,000 after purchasing an additional 385,185 shares during the last quarter. Concentric Capital Strategies LP acquired a new stake in shares of GSI Technology in the fourth quarter valued at approximately $2,116,000. UBS Group AG increased its holdings in shares of GSI Technology by 9,603.2% in the third quarter. UBS Group AG now owns 167,672 shares of the semiconductor company’s stock valued at $617,000 after purchasing an additional 165,944 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of GSI Technology by 270.3% in the fourth quarter. Jane Street Group LLC now owns 221,094 shares of the semiconductor company’s stock valued at $1,373,000 after purchasing an additional 161,380 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of GSI Technology in the second quarter valued at approximately $535,000. Institutional investors and hedge funds own 33.15% of the company’s stock.

Wall Street Analysts Forecast Growth

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