GSI Technology (NASDAQ:GSIT) Shares Cross Above 200 Day Moving Average – Should You Sell?

GSI Technology, Inc. (NASDAQ:GSIT)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.72 and traded as high as $9.20. GSI Technology shares last traded at $8.03, with a volume of 2,876,987 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of GSI Technology in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

GSI Technology Trading Down 8.0%

The company has a market capitalization of $282.98 million, a P/E ratio of -18.25 and a beta of 1.46. The firm’s 50 day moving average price is $6.80 and its two-hundred day moving average price is $5.72.

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

Insider Activity

In other news, VP Avidan Akerib sold 54,732 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $8.54, for a total transaction of $467,411.28. Following the completion of the transaction, the vice president directly owned 23,307 shares in the company, valued at $199,041.78. This represents a 70.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Patrick T. Chuang sold 40,000 shares of the firm’s 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 of the company’s stock, valued at $131,337.56. The trade was a 72.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 230,018 shares of company stock worth $2,038,150 over the last three months. Insiders own 25.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. R Squared Ltd bought a new stake in shares of GSI Technology during the 3rd quarter worth approximately $38,000. Osaic Holdings Inc. increased its holdings in GSI Technology by 52.1% during the second quarter. Osaic Holdings Inc. now owns 12,012 shares of the semiconductor company’s stock worth $40,000 after buying an additional 4,112 shares during the last quarter. Bank of America Corp DE increased its holdings in GSI Technology by 8,247.6% during the second quarter. Bank of America Corp DE now owns 13,690 shares of the semiconductor company’s stock worth $46,000 after buying an additional 13,526 shares during the last quarter. Prelude Capital Management LLC bought a new stake in GSI Technology during the third quarter worth $52,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in GSI Technology in the second quarter valued at $55,000. 33.15% of the stock is currently owned by institutional investors.

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.