GSI Technology (NASDAQ:GSIT) Shares Cross Above 200-Day Moving Average – Here’s What Happened

GSI Technology, Inc. (NASDAQ:GSIT) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.94 and traded as high as $6.62. GSI Technology shares last traded at $6.37, with a volume of 770,246 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of GSI Technology in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

GSI Technology Stock Performance

The firm has a market capitalization of $224.48 million, a price-to-earnings ratio of -17.22 and a beta of 1.45. The firm has a fifty day moving average price of $6.95 and a 200 day moving average price of $5.94.

GSI Technology (NASDAQ:GSIT) last issued its earnings results on Thursday, January 29th. The semiconductor company reported ($0.09) earnings per share for the quarter. GSI Technology had a negative return on equity of 30.68% and a negative net margin of 43.15%.The company had revenue of $6.08 million for the quarter.

Institutional Trading of GSI Technology

Hedge funds and other institutional investors have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in GSI Technology during the second quarter valued at approximately $165,000. XTX Topco Ltd acquired a new position in shares of GSI Technology during the second quarter worth $246,000. Vanguard Personalized Indexing Management LLC purchased a new stake in GSI Technology during the 2nd quarter worth $55,000. NewEdge Advisors LLC acquired a new position in GSI Technology in the 3rd quarter worth $68,000. Finally, Prelude Capital Management LLC purchased a new position in GSI Technology in the 3rd quarter valued at about $52,000. 33.15% of the stock is owned by hedge funds and other 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.