GSI Technology, Inc. (NASDAQ:GSIT) was the recipient of a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 562,915 shares, a decline of 22.8% from the August 15th total of 728,887 shares. Based on an average daily trading volume, of 53,976 shares, the days-to-cover ratio is presently 10.4 days. Approximately 4.1% of the company’s shares are short sold.

GSI Technology (GSIT) opened at 7.06 on Friday. The firm’s 50-day moving average price is $6.73 and its 200 day moving average price is $7.67. The firm’s market capitalization is $148.33 million. GSI Technology has a one year low of $4.47 and a one year high of $9.68.

GSI Technology (NASDAQ:GSIT) last posted its earnings results on Thursday, July 27th. The semiconductor company reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.09). The firm had revenue of $10.69 million for the quarter, compared to analysts’ expectations of $11.50 million. GSI Technology had a negative return on equity of 2.19% and a negative net margin of 4.11%. The business’s revenue for the quarter was down 17.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.01 earnings per share. On average, equities analysts anticipate that GSI Technology will post $0.01 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. Rhumbline Advisers purchased a new stake in shares of GSI Technology during the second quarter worth about $117,000. Strs Ohio purchased a new stake in shares of GSI Technology during the second quarter worth about $146,000. Teachers Advisors LLC purchased a new stake in shares of GSI Technology during the second quarter worth about $194,000. California State Teachers Retirement System purchased a new stake in shares of GSI Technology during the second quarter worth about $199,000. Finally, OxFORD Asset Management LLP purchased a new stake in shares of GSI Technology during the second quarter worth about $248,000. Institutional investors own 31.40% of the company’s stock.

Separately, Needham & Company LLC reaffirmed a “hold” rating on shares of GSI Technology in a report on Monday, July 31st.

COPYRIGHT VIOLATION NOTICE: “GSI Technology, Inc. (GSIT) Sees Significant Decrease in Short Interest” was originally posted by American Banking News and is the sole property of of American Banking News. If you are viewing this news story on another website, it was illegally stolen and reposted in violation of US & international trademark & copyright law. The correct version of this news story can be accessed at https://www.americanbankingnews.com/2017/09/17/gsi-technology-inc-gsit-sees-significant-decrease-in-short-interest.html.

GSI Technology Company Profile

GSI Technology, Inc is a provider of Very Fast static random access memory (SRAM) products and low latency dynamic random access memory (LLDRAM) products. The Company operates through the design, development and sale of integrated circuits segment. Its products are incorporated primarily in high-performance networking and telecommunications equipment, such as routers, switches, area network infrastructure equipment, wireless base stations and network access equipment.

Receive News & Ratings for GSI Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GSI Technology Inc. and related companies with MarketBeat.com's FREE daily email newsletter.