GSA Capital Partners LLP Takes $1.38 Million Position in GSI Technology, Inc. $GSIT

GSA Capital Partners LLP acquired a new position in shares of GSI Technology, Inc. (NASDAQ:GSIT) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 178,168 shares of the semiconductor company’s stock, valued at approximately $1,377,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CIBC Private Wealth Group LLC purchased a new position in GSI Technology in the fourth quarter valued at $31,000. Osaic Holdings Inc. raised its stake in GSI Technology by 52.1% in the second quarter. Osaic Holdings Inc. now owns 12,012 shares of the semiconductor company’s stock valued at $40,000 after buying an additional 4,112 shares in the last quarter. Bank of America Corp DE lifted its holdings in GSI Technology by 8,247.6% during the 2nd quarter. Bank of America Corp DE now owns 13,690 shares of the semiconductor company’s stock worth $46,000 after buying an additional 13,526 shares during the last quarter. Prelude Capital Management LLC purchased a new stake in GSI Technology during the 3rd quarter worth about $52,000. Finally, NewEdge Advisors LLC purchased a new stake in GSI Technology during the 3rd quarter worth about $68,000. Institutional investors and hedge funds own 33.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GSIT shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of GSI Technology in a report on Friday, July 17th. Wall Street Zen lowered GSI Technology from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, GSI Technology presently has an average rating of “Sell”.

Insider Activity at GSI Technology

In other news, VP Patrick T. Chuang sold 40,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $10.98, for a total value of $439,200.00. Following the completion of the sale, the vice president directly owned 15,166 shares of the company’s stock, valued at approximately $166,522.68. The trade was a 72.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Didier Lasserre sold 30,000 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $9.31, for a total value of $279,300.00. Following the completion of the sale, the vice president directly owned 310,907 shares of the company’s stock, valued at $2,894,544.17. The trade was a 8.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 120,000 shares of company stock worth $1,267,400. Insiders own 16.60% of the company’s stock.

GSI Technology Stock Performance

Shares of GSI Technology stock opened at $7.03 on Monday. The company has a fifty day simple moving average of $6.67 and a 200-day simple moving average of $7.27. GSI Technology, Inc. has a 12-month low of $2.82 and a 12-month high of $18.15. The stock has a market cap of $270.16 million, a price-to-earnings ratio of -15.28 and a beta of 2.11.

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

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.