GSI Technology, Inc. (GSIT) Short Interest Down 30.6% in October
GSI Technology, Inc. (NASDAQ:GSIT) was the target of a large decrease in short interest during the month of October. As of October 13th, there was short interest totalling 490,337 shares, a decrease of 30.6% from the September 29th total of 706,719 shares. Currently, 3.5% of the company’s stock are short sold. Based on an average trading volume of 24,222 shares, the short-interest ratio is currently 20.2 days.
Several large investors have recently added to or reduced their stakes in GSIT. Rhumbline Advisers acquired a new stake in shares of GSI Technology in the second quarter valued at about $117,000. Strs Ohio acquired a new position in GSI Technology during the second quarter worth approximately $146,000. Teachers Advisors LLC acquired a new position in GSI Technology during the second quarter worth approximately $194,000. California State Teachers Retirement System acquired a new position in GSI Technology during the second quarter worth approximately $199,000. Finally, OxFORD Asset Management LLP acquired a new position in GSI Technology during the second quarter worth approximately $248,000. 31.42% of the stock is currently owned by institutional investors and hedge funds.
GSI Technology (NASDAQ:GSIT) opened at 6.85 on Friday. The firm’s market cap is $143.92 million. GSI Technology has a one year low of $4.71 and a one year high of $9.68. The stock’s 50 day moving average price is $7.09 and its 200-day moving average price is $7.50.
GSI Technology (NASDAQ:GSIT) last released its earnings results on Thursday, October 26th. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.07). The company had revenue of $9.65 million during the quarter, compared to analyst estimates of $10.50 million. GSI Technology had a negative net margin of 4.11% and a negative return on equity of 2.19%. GSI Technology’s revenue was down 27.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.03 EPS. Analysts forecast that GSI Technology will post $0.01 earnings per share for the current year.
Separately, Needham & Company LLC reissued a “hold” rating on shares of GSI Technology in a report on Monday, July 31st.
About GSI Technology
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.
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