Didier Lasserre Sells 30,000 Shares of GSI Technology (NASDAQ:GSIT) Stock

GSI Technology, Inc. (NASDAQ:GSIT) VP Didier Lasserre sold 30,000 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $9.31, for a total transaction of $279,300.00. Following the completion of the transaction, the vice president owned 310,907 shares of the company’s stock, valued at approximately $2,894,544.17. The trade was a 8.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

GSI Technology Stock Up 4.2%

GSIT traded up $0.39 on Friday, reaching $9.66. The company had a trading volume of 5,778,497 shares, compared to its average volume of 1,445,219. GSI Technology, Inc. has a 1 year low of $2.82 and a 1 year high of $18.15. The stock has a market capitalization of $349.60 million, a PE ratio of -23.56 and a beta of 1.94. The stock has a 50-day moving average price of $7.30 and a 200-day moving average price of $7.20.

GSI Technology (NASDAQ:GSIT) last issued its quarterly earnings data on Thursday, May 7th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, topping 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 company had revenue of $6.32 million for the quarter, compared to analyst estimates of $7.30 million.

Institutional Trading of GSI Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in GSIT. Jones Financial Companies Lllp acquired a new stake in GSI Technology during the 1st quarter worth approximately $80,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of GSI Technology in the second quarter valued at approximately $535,000. Marshall Wace LLP purchased a new stake in shares of GSI Technology during the second quarter worth approximately $642,000. Jane Street Group LLC purchased a new stake in shares of GSI Technology during the second quarter worth approximately $342,000. Finally, Bank of America Corp DE lifted its holdings in shares of GSI Technology by 8,247.6% during the second quarter. Bank of America Corp DE now owns 13,690 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 13,526 shares during the period. 33.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed 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 MarketBeat, the company currently 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.