GSI Technology (NASDAQ:GSIT) Downgraded to “Sell” Rating by Wall Street Zen

GSI Technology (NASDAQ:GSIT) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of GSI Technology in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, GSI Technology has a consensus rating of “Sell”.

GSI Technology Stock Down 0.5%

NASDAQ GSIT opened at $7.89 on Friday. The company has a market cap of $301.79 million, a PE ratio of -19.24 and a beta of 2.00. GSI Technology has a 52 week low of $2.82 and a 52 week high of $18.15. The firm’s 50-day simple moving average is $8.15 and its two-hundred day simple moving average is $7.35.

GSI Technology (NASDAQ:GSIT) last released its quarterly earnings data on Thursday, May 7th. The semiconductor company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.06. The business had revenue of $6.32 million for the quarter, compared to the consensus estimate of $7.30 million. GSI Technology had a negative net margin of 52.73% and a negative return on equity of 21.96%.

Insider Transactions at GSI Technology

In other GSI Technology news, CFO Douglas Schirle sold 40,000 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $11.32, for a total value of $452,800.00. Following the sale, the chief financial officer owned 69,046 shares of the company’s stock, valued at $781,600.72. This trade represents a 36.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Patrick T. Chuang sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $10.68, for a total value of $427,200.00. Following the completion of the sale, the vice president directly owned 15,166 shares in the company, valued at approximately $161,972.88. The trade was a 72.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 452,389 shares of company stock worth $4,946,853. 25.40% of the stock is owned by corporate insiders.

Institutional Trading of GSI Technology

Several institutional investors and hedge funds have recently modified their holdings of GSIT. CIBC Private Wealth Group LLC bought a new position in shares of GSI Technology in the 4th quarter worth $31,000. R Squared Ltd bought a new position in shares of GSI Technology in the 3rd quarter worth $38,000. Osaic Holdings Inc. increased its holdings in shares of GSI Technology by 52.1% in the 2nd 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 shares of GSI Technology by 8,247.6% in the 2nd 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. Finally, Prelude Capital Management LLC bought a new position in shares of GSI Technology in the 3rd quarter worth $52,000. Hedge funds and other institutional investors own 33.15% of the company’s stock.

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.