Wall Street Zen Upgrades GSI Technology (NASDAQ:GSIT) to Sell

GSI Technology (NASDAQ:GSIT) was upgraded by stock analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued on Saturday, Wall Street Zen reports.

GSIT has been the subject of several other reports. Williams Trading set a $9.00 price target on GSI Technology in a research report on Monday, September 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of GSI Technology in a research note on Friday, July 17th. Finally, Needham & Company LLC started coverage on GSI Technology in a report on Monday, September 14th. They issued a “buy” rating and a $9.00 price objective on the stock. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, GSI Technology presently has a consensus rating of “Hold” and an average target price of $9.00.

GSI Technology Stock Performance

NASDAQ:GSIT opened at $4.81 on Friday. GSI Technology has a 12 month low of $4.51 and a 12 month high of $18.15. The stock has a 50 day moving average of $5.75 and a two-hundred day moving average of $6.77. The firm has a market cap of $184.85 million, a P/E ratio of -10.46 and a beta of 2.11.

GSI Technology (NASDAQ:GSIT) last announced its earnings results on Thursday, July 30th. The semiconductor company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. The business had revenue of $6.31 million during the quarter, compared to analysts’ expectations of $7.30 million. GSI Technology had a negative return on equity of 21.39% and a negative net margin of 62.90%.

Institutional Trading of GSI Technology

Several large investors have recently bought and sold shares of the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in shares of GSI Technology during the 2nd quarter worth approximately $77,000. Allworth Financial LP acquired a new stake in shares of GSI Technology in the second quarter valued at approximately $86,000. Silverberg Bernstein Capital Management LLC increased its holdings in shares of GSI Technology by 1.4% in the first quarter. Silverberg Bernstein Capital Management LLC now owns 785,706 shares of the semiconductor company’s stock valued at $4,039,000 after purchasing an additional 11,200 shares during the last quarter. Algert Global LLC acquired a new stake in shares of GSI Technology in the second quarter valued at approximately $153,000. Finally, HB Wealth Management LLC purchased a new position in GSI Technology during the second quarter worth approximately $155,000. Hedge funds and other institutional investors own 33.15% of the company’s stock.

About GSI Technology

GSI Technology, Inc is a semiconductor company that develops and markets high-performance memory and computing solutions. Its products are designed for applications that require fast data access, reliable operation and high bandwidth, including communications infrastructure, networking equipment, industrial systems, aerospace and defense applications.

The company’s product portfolio has historically centered on static random-access memory (SRAM), including synchronous and high-speed memory devices sold under product families such as SigmaQuad and SigmaDDR.