Separately, Needham & Company LLC reissued a “hold” rating on shares of GSI Technology in a report on Friday, January 26th.
Shares of GSI Technology (NASDAQ:GSIT) opened at $8.87 on Monday. GSI Technology has a fifty-two week low of $6.05 and a fifty-two week high of $9.68. The stock has a market capitalization of $190.16, a PE ratio of -30.59 and a beta of 0.76.
In other news, VP Robert Yau sold 7,474 shares of the company’s stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $8.01, for a total value of $59,866.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Didier Lasserre sold 10,000 shares of the company’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $7.91, for a total value of $79,100.00. Following the completion of the transaction, the vice president now directly owns 252,979 shares of the company’s stock, valued at approximately $2,001,063.89. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,869 shares of company stock valued at $158,127. Corporate insiders own 34.20% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its stake in shares of GSI Technology by 123.3% in the fourth quarter. Wells Fargo & Company MN now owns 20,546 shares of the semiconductor company’s stock worth $163,000 after acquiring an additional 11,343 shares during the period. Chicago Equity Partners LLC bought a new position in shares of GSI Technology in the fourth quarter worth about $168,000. Teachers Advisors LLC bought a new position in shares of GSI Technology in the second quarter worth about $194,000. California State Teachers Retirement System bought a new position in shares of GSI Technology in the second quarter worth about $199,000. Finally, Cowen Prime Services LLC boosted its stake in shares of GSI Technology by 203.1% in the fourth quarter. Cowen Prime Services LLC now owns 31,084 shares of the semiconductor company’s stock worth $247,000 after acquiring an additional 20,827 shares during the period. 31.32% of the stock is owned by hedge funds and other institutional investors.
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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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