GSI Technology (NASDAQ:GSIT) Stock Crosses Above 200-Day Moving Average of $2.85

GSI Technology, Inc. (NASDAQ:GSIT) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.85 and traded as high as $3.59. GSI Technology shares last traded at $3.42, with a volume of 240,152 shares trading hands.

GSI Technology Stock Down 3.9 %

The company has a 50 day simple moving average of $3.65 and a 200-day simple moving average of $2.85. The stock has a market cap of $86.53 million, a price-to-earnings ratio of -4.33 and a beta of 1.04.

GSI Technology (NASDAQ:GSIT) last announced its quarterly earnings data on Thursday, January 25th. The semiconductor company reported ($0.26) earnings per share (EPS) for the quarter. GSI Technology had a negative net margin of 89.70% and a negative return on equity of 42.68%. The firm had revenue of $5.32 million for the quarter.

Institutional Trading of GSI Technology

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of GSI Technology by 12.7% during the 4th quarter. Vanguard Group Inc. now owns 823,720 shares of the semiconductor company’s stock worth $2,175,000 after purchasing an additional 93,056 shares during the period. Worth Venture Partners LLC acquired a new stake in shares of GSI Technology during the 2nd quarter worth approximately $2,762,000. Silverberg Bernstein Capital Management LLC raised its position in shares of GSI Technology by 2.2% during the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 453,131 shares of the semiconductor company’s stock worth $1,541,000 after purchasing an additional 9,600 shares during the period. Geode Capital Management LLC raised its position in shares of GSI Technology by 26.4% during the 2nd quarter. Geode Capital Management LLC now owns 175,329 shares of the semiconductor company’s stock worth $970,000 after purchasing an additional 36,598 shares during the period. Finally, BlackRock Inc. raised its position in shares of GSI Technology by 8.8% during the 2nd quarter. BlackRock Inc. now owns 98,743 shares of the semiconductor company’s stock worth $546,000 after purchasing an additional 7,961 shares during the period. 33.15% of the stock is currently owned by institutional investors and hedge funds.

GSI Technology Company Profile

GSI Technology, Inc designs, develops, and markets semiconductor memory solutions to networking, industrial, medical, aerospace, and military customers in the United States, China, Singapore, Germany, the Netherlands, and internationally. It offers associative processing unit products, which are focuses on applications using similarity search in visual search queries for ecommerce, computer vision, drug discovery, cyber security, and service markets.