GSI Technology (NASDAQ:GSIT) Announces Quarterly Earnings Results

GSI Technology (NASDAQ:GSIT) issued its quarterly earnings results on Thursday. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06, FiscalAI reports. GSI Technology had a negative return on equity of 21.96% and a negative net margin of 52.73%.The business had revenue of $6.31 million for the quarter, compared to the consensus estimate of $7.30 million.

Here are the key takeaways from GSI Technology’s conference call:

• Gemini-II commercialization is advancing, with the company completing key deliverables for the Sentinel proof of concept and remaining on track to deploy its Smart City Phase 1 project across 20 cameras by November.
• GSI reported successful Gemini-II radiation testing with no single-event latch-ups, potentially expanding the platform into low-power AI applications for satellites, aerospace, defense, and other harsh environments.
• The AI-assisted SDK is targeted for alpha release this fall; management said early testing reduced one representative model-porting effort from roughly a year to less than a month, which could accelerate customer adoption and system-integrator engagement.
• GSI remains on schedule to tape out its next-generation Plato processor in March 2027 and ended the quarter with $77 million in cash and no debt, providing funding for development and customer evaluations.
• First-quarter revenue was $6.3 million, while operating expenses rose to $8.8 million and the operating loss widened to $5.4 million as the company invested in Gemini-II software and Plato; second-quarter revenue is expected to decline to $5.7 million–$6.5 million.

GSI Technology Trading Up 11.4%

Shares of NASDAQ GSIT traded up $0.60 during midday trading on Thursday, reaching $5.85. The company had a trading volume of 1,072,786 shares, compared to its average volume of 733,419. The business’s 50-day simple moving average is $7.42 and its 200 day simple moving average is $7.37. The stock has a market cap of $224.46 million, a P/E ratio of -14.27 and a beta of 2.06. GSI Technology has a 1 year low of $2.82 and a 1 year high of $18.15.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of GSI Technology in a research note on Friday, July 17th. Wall Street Zen downgraded GSI Technology from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

Insider Buying and Selling at GSI Technology

In other news, VP Patrick T. Chuang sold 40,000 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $10.98, for a total transaction of $439,200.00. Following the sale, the vice president directly owned 15,166 shares of the company’s stock, valued at $166,522.68. The trade was a 72.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Douglas Schirle sold 40,000 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $11.32, for a total value of $452,800.00. Following the completion of the transaction, the chief financial officer directly owned 69,046 shares in the company, valued at approximately $781,600.72. The trade was a 36.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 385,138 shares of company stock valued at $4,273,363. Company insiders own 16.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GSIT. Osaic Holdings Inc. lifted 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 purchasing an additional 4,112 shares during the period. CIBC Private Wealth Group LLC purchased a new position in GSI Technology during the 4th quarter worth approximately $31,000. Virtu Financial LLC purchased a new position in GSI Technology during the 4th quarter worth approximately $76,000. Schonfeld Strategic Advisors LLC acquired a new stake in GSI Technology during the 4th quarter valued at approximately $81,000. Finally, Bank of America Corp DE lifted its stake in GSI Technology by 8,247.6% during the 2nd quarter. Bank of America Corp DE now owns 13,690 shares of the semiconductor company’s stock valued at $46,000 after acquiring an additional 13,526 shares during the period. 33.15% of the stock is currently owned by hedge funds and other institutional investors.

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.