Ping Tak Wu Sells 30,000 Shares of GSI Technology (NASDAQ:GSIT) Stock

GSI Technology, Inc. (NASDAQ:GSIT) VP Ping Tak Wu sold 30,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $11.01, for a total value of $330,300.00. Following the sale, the vice president directly owned 148,441 shares in the company, valued at $1,634,335.41. The trade was a 16.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Ping Tak Wu also recently made the following trade(s):

• On Tuesday, May 12th, Ping Tak Wu sold 11,763 shares of GSI Technology stock. The stock was sold at an average price of $10.80, for a total value of $127,040.40.

GSI Technology Trading Up 3.0%

Shares of GSI Technology stock opened at $10.64 on Friday. The company has a market capitalization of $385.06 million, a PE ratio of -25.95 and a beta of 1.94. GSI Technology, Inc. has a 12 month low of $2.82 and a 12 month high of $18.15. The stock’s fifty day simple moving average is $7.45 and its 200 day simple moving average is $7.24.

GSI Technology (NASDAQ:GSIT) last issued its quarterly earnings data on Thursday, May 7th. The semiconductor company reported ($0.13) EPS for the quarter, topping 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%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On GSI Technology

Hedge funds and other institutional investors have recently bought and sold shares of the company. Schonfeld Strategic Advisors LLC acquired a new stake in GSI Technology in the 4th quarter valued at approximately $81,000. NewEdge Advisors LLC acquired a new stake in shares of GSI Technology in the third quarter valued at about $68,000. Prelude Capital Management LLC acquired a new stake in shares of GSI Technology in the third quarter valued at about $52,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of GSI Technology in the third quarter valued at about $69,000. Finally, Osaic Holdings Inc. increased its position in shares of 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 acquiring an additional 4,112 shares during the last quarter. Institutional investors and hedge funds own 33.15% of the company’s stock.

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.