Patrick Chuang Sells 20,000 Shares of GSI Technology (NASDAQ:GSIT) Stock

GSI Technology, Inc. (NASDAQ:GSIT) VP Patrick Chuang sold 20,000 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $8.37, for a total value of $167,400.00. Following the transaction, the vice president owned 15,166 shares in the company, valued at $126,939.42. The trade was a 56.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

GSI Technology Stock Down 7.5%

NASDAQ:GSIT opened at $8.04 on Wednesday. GSI Technology, Inc. has a twelve month low of $1.62 and a twelve month high of $18.15. The company has a fifty day moving average of $7.20 and a 200-day moving average of $6.30. The firm has a market capitalization of $290.97 million, a P/E ratio of -21.73 and a beta of 1.44.

GSI Technology (NASDAQ:GSIT) last posted its quarterly earnings results on Thursday, January 29th. The semiconductor company reported ($0.09) EPS for the quarter. GSI Technology had a negative return on equity of 22.69% and a negative net margin of 43.15%.The company had revenue of $6.08 million during the quarter.

Institutional Investors Weigh In On GSI Technology

Several hedge funds and other institutional investors have recently made changes to their positions in GSIT. Connor Clark & Lunn Investment Management Ltd. acquired a new position in GSI Technology during the 2nd quarter valued at about $165,000. XTX Topco Ltd purchased a new stake in shares of GSI Technology in the second quarter worth approximately $246,000. Commonwealth Equity Services LLC lifted its holdings in shares of GSI Technology by 59.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 88,934 shares of the semiconductor company’s stock valued at $552,000 after purchasing an additional 33,080 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of GSI Technology by 270.3% in the fourth quarter. Jane Street Group LLC now owns 221,094 shares of the semiconductor company’s stock valued at $1,373,000 after purchasing an additional 161,380 shares in the last quarter. Finally, Silverberg Bernstein Capital Management LLC boosted its position in shares of GSI Technology by 9.4% during the third quarter. Silverberg Bernstein Capital Management LLC now owns 753,174 shares of the semiconductor company’s stock valued at $2,772,000 after buying an additional 64,710 shares during the last quarter. 33.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

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.