GSI Technology (NASDAQ:GSIT) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

GSI Technology, Inc. (NASDAQ:GSIT)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.42 and traded as high as $7.69. GSI Technology shares last traded at $7.36, with a volume of 922,643 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of GSI Technology in a research report on Tuesday, April 21st. Wall Street Zen cut shares of GSI Technology from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, GSI Technology has an average rating of “Sell”.

GSI Technology Stock Down 2.9%

The stock has a fifty day moving average price of $8.41 and a two-hundred day moving average price of $7.42. The company has a market capitalization of $281.52 million, a price-to-earnings ratio of -17.95 and a beta of 2.00.

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

Insider Buying and Selling

In other GSI Technology news, VP Patrick T. Chuang sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $10.98, for a total transaction of $439,200.00. Following the sale, the vice president directly owned 15,166 shares of the company’s stock, valued at $166,522.68. This trade represents a 72.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Didier Lasserre sold 30,000 shares of GSI Technology stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $9.31, for a total transaction of $279,300.00. Following the sale, the vice president owned 310,907 shares of the company’s stock, valued at approximately $2,894,544.17. This trade represents a 8.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 385,138 shares of company stock worth $4,273,363 in the last 90 days. 25.40% of the stock is currently owned by corporate insiders.

Institutional Trading of GSI Technology

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in GSI Technology by 8.8% in the 3rd quarter. Vanguard Group Inc. now owns 937,711 shares of the semiconductor company’s stock worth $3,451,000 after acquiring an additional 75,882 shares during the period. Silverberg Bernstein Capital Management LLC lifted its stake in shares of GSI Technology by 1.4% during the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 785,706 shares of the semiconductor company’s stock worth $4,039,000 after purchasing an additional 11,200 shares during the period. Marshall Wace LLP lifted its stake in shares of GSI Technology by 112.7% during the 4th quarter. Marshall Wace LLP now owns 727,077 shares of the semiconductor company’s stock worth $4,515,000 after purchasing an additional 385,185 shares during the period. Two Sigma Investments LP boosted its holdings in shares of GSI Technology by 46.6% during the third quarter. Two Sigma Investments LP now owns 391,258 shares of the semiconductor company’s stock worth $1,440,000 after purchasing an additional 124,360 shares during the last quarter. Finally, Concentric Capital Strategies LP acquired a new stake in shares of GSI Technology during the fourth quarter worth $2,116,000. Institutional investors and hedge funds own 33.15% of the company’s stock.

GSI Technology Company Profile

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.