GSI Technology (NASDAQ:GSIT) VP Sells $427,200.00 in Stock

GSI Technology, Inc. (NASDAQ:GSIT) VP Patrick Chuang sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $10.68, for a total value of $427,200.00. Following the completion of the transaction, the vice president owned 15,166 shares in the company, valued at approximately $161,972.88. This trade represents a 72.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

GSI Technology Price Performance

NASDAQ GSIT opened at $9.64 on Friday. The company has a market cap of $348.87 million, a PE ratio of -23.51 and a beta of 1.94. The stock’s 50 day simple moving average is $7.25 and its 200-day simple moving average is $7.28. GSI Technology, Inc. has a 1-year low of $2.82 and a 1-year 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%.

Hedge Funds Weigh In On GSI Technology

Institutional investors have recently added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC purchased a new position in GSI Technology during the fourth quarter worth approximately $31,000. R Squared Ltd purchased a new stake in GSI Technology in the third quarter valued at $38,000. Osaic Holdings Inc. raised its position in GSI Technology by 52.1% in the second quarter. Osaic Holdings Inc. now owns 12,012 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 4,112 shares during the period. Bank of America Corp DE raised its position in GSI Technology by 8,247.6% in the second quarter. Bank of America Corp DE now owns 13,690 shares of the semiconductor company’s stock valued at $46,000 after purchasing an additional 13,526 shares during the period. Finally, Prelude Capital Management LLC purchased a new stake in GSI Technology in the third quarter valued at $52,000. Hedge funds and other institutional investors own 33.15% of the company’s stock.

Wall Street Analysts Forecast Growth

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