GSI Technology (NASDAQ:GSIT) VP Patrick Chuang Sells 40,000 Shares of Stock

GSI Technology, Inc. (NASDAQ:GSIT) VP Patrick Chuang sold 40,000 shares of the firm’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 completion of the transaction, the vice president directly owned 15,166 shares in the company, valued at $166,522.68. This trade represents a 72.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

GSI Technology Trading Down 6.6%

GSI Technology stock opened at $9.76 on Thursday. GSI Technology, Inc. has a 1-year low of $2.82 and a 1-year high of $18.15. The firm has a market capitalization of $353.21 million, a price-to-earnings ratio of -23.80 and a beta of 2.00. The firm’s fifty day moving average price is $7.79 and its two-hundred day moving average price is $7.30.

GSI Technology (NASDAQ:GSIT) last released its quarterly earnings data on Thursday, May 7th. The semiconductor company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. GSI Technology had a negative net margin of 52.73% and a negative return on equity of 24.91%. The firm had revenue of $6.32 million for the quarter, compared to analyst estimates of $7.30 million.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Marshall Wace LLP increased its position in shares of GSI Technology by 112.7% during the 4th quarter. Marshall Wace LLP now owns 727,077 shares of the semiconductor company’s stock valued at $4,515,000 after purchasing an additional 385,185 shares during the last quarter. Concentric Capital Strategies LP purchased a new stake in shares of GSI Technology during the 4th quarter valued at $2,116,000. UBS Group AG increased its position in shares of GSI Technology by 9,603.2% during the 3rd quarter. UBS Group AG now owns 167,672 shares of the semiconductor company’s stock valued at $617,000 after purchasing an additional 165,944 shares during the last quarter. Jane Street Group LLC increased its position in shares of GSI Technology by 270.3% during the 4th quarter. Jane Street Group LLC now owns 221,094 shares of the semiconductor company’s stock valued at $1,373,000 after purchasing an additional 161,380 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of GSI Technology during the 2nd quarter valued at $535,000. 33.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

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