GSI Technology (NASDAQ:GSIT) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Shares of GSI Technology, Inc. (NASDAQ:GSIT) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.35 and traded as high as $7.95. GSI Technology shares last traded at $7.93, with a volume of 1,137,241 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GSI Technology in a report on Tuesday, April 21st. Wall Street Zen downgraded GSI Technology from a “hold” rating to a “sell” rating in a report on Saturday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, GSI Technology currently has an average rating of “Sell”.

GSI Technology Stock Performance

The company has a market cap of $301.79 million, a price-to-earnings ratio of -19.24 and a beta of 2.00. The company has a fifty day moving average of $8.15 and a two-hundred day moving average of $7.35.

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 the consensus estimate of ($0.19) by $0.06. The company 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 21.96% and a negative net margin of 52.73%.

Insider Activity

In other GSI Technology news, VP Patrick T. Chuang sold 40,000 shares of GSI Technology stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $10.68, for a total transaction of $427,200.00. Following the transaction, the vice president directly owned 15,166 shares of the company’s stock, valued at approximately $161,972.88. The trade was a 72.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Lee-Lean Shu sold 132,749 shares of GSI Technology stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $11.54, for a total value of $1,531,923.46. Following the transaction, the chief executive officer directly owned 1,982,417 shares in the company, valued at $22,877,092.18. The trade was a 6.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 452,389 shares of company stock worth $4,946,853. 25.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Osaic Holdings Inc. lifted its holdings in GSI Technology by 52.1% during the 2nd quarter. Osaic Holdings Inc. now owns 12,012 shares of the semiconductor company’s stock worth $40,000 after buying an additional 4,112 shares during the period. CIBC Private Wealth Group LLC acquired a new position in GSI Technology during the 4th quarter worth about $31,000. R Squared Ltd acquired a new position in GSI Technology during the 3rd quarter worth about $38,000. Silverberg Bernstein Capital Management LLC lifted its holdings in GSI Technology by 1.4% during the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 785,706 shares of the semiconductor company’s stock worth $4,039,000 after buying an additional 11,200 shares during the period. Finally, Virtu Financial LLC bought a new position in shares of GSI Technology in the 4th quarter worth about $76,000. 33.15% of the stock is owned by institutional investors and hedge funds.

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.