GSI Technology Sees Unusually Large Options Volume (NASDAQ:GSIT)

GSI Technology, Inc. (NASDAQ:GSIT) was the recipient of unusually large options trading activity on Friday. Stock investors bought 4,136 call options on the company. This represents an increase of approximately 64% compared to the typical volume of 2,523 call options.

Insider Buying and Selling at GSI Technology

In other news, VP Avidan Akerib sold 135,286 shares of the company’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $9.05, for a total transaction of $1,224,338.30. Following the completion of the transaction, the vice president directly owned 23,307 shares of the company’s stock, valued at approximately $210,928.35. This represents a 85.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Patrick T. Chuang sold 40,000 shares of the stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $8.66, for a total value of $346,400.00. Following the completion of the transaction, the vice president owned 15,166 shares in the company, valued at approximately $131,337.56. The trade was a 72.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 230,018 shares of company stock worth $2,038,150 in the last three months. 25.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On GSI Technology

Institutional investors have recently modified their holdings of the business. R Squared Ltd acquired a new stake in GSI Technology during the 3rd quarter worth $38,000. Osaic Holdings Inc. raised its holdings in shares of 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 during the last quarter. Bank of America Corp DE raised its holdings in shares of GSI Technology by 8,247.6% in the second quarter. Bank of America Corp DE now owns 13,690 shares of the semiconductor company’s stock valued at $46,000 after buying an additional 13,526 shares during the last quarter. Prelude Capital Management LLC acquired a new stake in shares of GSI Technology during the third quarter worth about $52,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in shares of GSI Technology during the second quarter worth about $55,000. 33.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of GSI Technology in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, GSI Technology currently has an average rating of “Sell”.

GSI Technology Stock Performance

GSIT opened at $7.65 on Friday. GSI Technology has a one year low of $1.62 and a one year high of $18.15. The stock has a market capitalization of $269.59 million, a P/E ratio of -17.39 and a beta of 1.46. The business’s 50-day simple moving average is $7.75 and its 200-day simple moving average is $5.19.

GSI Technology (NASDAQ:GSIT) last announced its earnings results on Thursday, October 30th. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter. The firm had revenue of $6.44 million during the quarter. GSI Technology had a negative net margin of 48.54% and a negative return on equity of 34.79%.

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.