Ping Tak Wu Sells 11,763 Shares of GSI Technology (NASDAQ:GSIT) Stock

GSI Technology, Inc. (NASDAQ:GSIT) VP Ping Tak Wu sold 11,763 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $10.80, for a total value of $127,040.40. Following the sale, the vice president directly owned 147,647 shares of the company’s stock, valued at approximately $1,594,587.60. This represents a 7.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

GSI Technology Stock Down 11.2%

Shares of NASDAQ GSIT opened at $9.64 on Friday. GSI Technology, Inc. has a 12 month low of $2.82 and a 12 month high of $18.15. The company has a market cap of $348.87 million, a price-to-earnings ratio of -23.51 and a beta of 1.94. The business has a fifty day simple moving average of $7.25 and a 200-day simple moving average of $7.28.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Barclays PLC acquired a new position in GSI Technology during the fourth quarter valued at $170,000. Algert Global LLC purchased a new position in GSI Technology during the third quarter valued at approximately $88,000. Schonfeld Strategic Advisors LLC purchased a new position in GSI Technology during the fourth quarter valued at approximately $81,000. Jones Financial Companies Lllp purchased a new position in GSI Technology during the first quarter valued at approximately $80,000. Finally, Virtu Financial LLC purchased a new position in GSI Technology during the fourth quarter valued at approximately $76,000. 33.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

About GSI Technology

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.