Insider Selling: GSI Technology (NASDAQ:GSIT) CEO Sells $129,015.63 in Stock

GSI Technology, Inc. (NASDAQ:GSIT) CEO Lee-Lean Shu sold 10,313 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $12.51, for a total value of $129,015.63. Following the transaction, the chief executive officer owned 530,939 shares of the company’s stock, valued at $6,642,046.89. The trade was a 1.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Lee-Lean Shu also recently made the following trade(s):

• On Monday, May 11th, Lee-Lean Shu sold 10,313 shares of GSI Technology stock. The shares were sold at an average price of $10.51, for a total value of $108,389.63.
• On Monday, May 11th, Lee-Lean Shu sold 132,749 shares of GSI Technology stock. The shares were sold at an average price of $11.54, for a total value of $1,531,923.46.
• On Monday, March 16th, Lee-Lean Shu sold 30,734 shares of GSI Technology stock. The shares were sold at an average price of $10.02, for a total value of $307,954.68.
• On Tuesday, March 17th, Lee-Lean Shu sold 36,517 shares of GSI Technology stock. The shares were sold at an average price of $10.01, for a total value of $365,535.17.

GSI Technology Price Performance

GSI Technology stock opened at $9.64 on Friday. GSI Technology, Inc. has a one year low of $2.82 and a one year high of $18.15. The stock has a market capitalization of $348.87 million, a PE ratio of -23.51 and a beta of 1.94. The business’s fifty day moving average is $7.25 and its 200 day moving average is $7.28.

GSI Technology (NASDAQ:GSIT) last released its quarterly earnings data on Thursday, May 7th. The semiconductor company reported ($0.13) EPS for the quarter, beating 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 analysts’ expectations of $7.30 million.

Analysts Set New Price Targets

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 stock currently has an average rating of “Sell”.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in GSI Technology by 8.8% in the third quarter. Vanguard Group Inc. now owns 937,711 shares of the semiconductor company’s stock worth $3,451,000 after purchasing an additional 75,882 shares during the last quarter. Silverberg Bernstein Capital Management LLC boosted its position in 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 worth $4,039,000 after purchasing an additional 11,200 shares during the last quarter. Marshall Wace LLP boosted its position in GSI Technology by 112.7% in the fourth quarter. Marshall Wace LLP now owns 727,077 shares of the semiconductor company’s stock worth $4,515,000 after purchasing an additional 385,185 shares during the last quarter. Two Sigma Investments LP boosted its position in GSI Technology by 46.6% in the third quarter. Two Sigma Investments LP now owns 391,258 shares of the semiconductor company’s stock worth $1,440,000 after purchasing an additional 124,360 shares during the last quarter. Finally, Concentric Capital Strategies LP purchased a new position in GSI Technology in the fourth quarter worth about $2,116,000. 33.15% of the stock is owned by hedge funds and other institutional investors.

About GSI Technology

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.