GSI Technology’s (GSIT) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of GSI Technology (NASDAQ:GSIT) in a report published on Thursday,Benzinga reports. The brokerage currently has a $9.00 price objective on the semiconductor company’s stock.

Other research analysts have also recently issued research reports about the company. Williams Trading set a $9.00 price target on GSI Technology in a research report on Monday, September 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GSI Technology in a research note on Thursday, October 15th. Finally, Wall Street Zen raised shares of GSI Technology from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 10th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $9.00.

GSI Technology Price Performance

GSI Technology stock opened at $3.86 on Thursday. The stock’s fifty day moving average price is $5.25 and its two-hundred day moving average price is $6.67. GSI Technology has a one year low of $3.80 and a one year high of $13.30. The firm has a market cap of $148.34 million, a PE ratio of -8.39 and a beta of 2.11.

GSI Technology (NASDAQ:GSIT) last announced its quarterly earnings data on Thursday, July 30th. The semiconductor company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.06. The firm 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 Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of GSI Technology in the 2nd quarter valued at $77,000. Allworth Financial LP bought a new position in shares of GSI Technology in the 2nd quarter valued at $86,000. Algert Global LLC acquired a new stake in GSI Technology in the second quarter valued at about $153,000. HB Wealth Management LLC acquired a new stake in GSI Technology in the second quarter valued at about $155,000. Finally, Deutsche Bank AG bought a new position in GSI Technology in the second quarter valued at about $243,000. 33.15% of the stock is currently owned by institutional investors and hedge funds.

GSI Technology Company Profile

GSI Technology, Inc is a semiconductor company that develops and supplies high-performance memory and processing solutions. Its product portfolio has historically included static random-access memory (SRAM) devices, including synchronous SRAM products designed for applications requiring fast data access and high bandwidth.

The company also develops associative processing technology for data-intensive computing. Its Gemini Associative Processing Unit (APU) platform is designed to accelerate workloads such as artificial intelligence inference, natural-language processing, similarity search and other applications that involve searching large data sets.