Insider Selling: GSI Technology (NASDAQ:GSIT) CEO Sells 30,734 Shares of Stock

GSI Technology, Inc. (NASDAQ:GSIT) CEO Lee-Lean Shu sold 30,734 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $10.02, for a total transaction of $307,954.68. Following the transaction, the chief executive officer directly owned 1,982,417 shares of the company’s stock, valued at $19,863,818.34. This represents a 1.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Lee-Lean Shu also recently made the following trade(s):

• On Tuesday, March 17th, Lee-Lean Shu sold 36,517 shares of GSI Technology stock. The stock was sold at an average price of $10.01, for a total transaction of $365,535.17.

GSI Technology Stock Down 13.2%

GSIT traded down $1.29 during trading hours on Tuesday, hitting $8.48. 1,977,057 shares of the company’s stock were exchanged, compared to its average volume of 799,494. GSI Technology, Inc. has a 1-year low of $1.62 and a 1-year high of $18.15. The stock’s 50-day moving average is $7.55 and its two-hundred day moving average is $6.69. The stock has a market cap of $306.89 million, a price-to-earnings ratio of -22.92 and a beta of 1.44.

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

Analysts Set New Price Targets

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

Hedge Funds Weigh In On GSI Technology

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in GSI Technology by 8.8% during the third 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 in the last quarter. Silverberg Bernstein Capital Management LLC lifted its stake in GSI Technology by 2.8% in the fourth quarter. Silverberg Bernstein Capital Management LLC now owns 774,506 shares of the semiconductor company’s stock valued at $4,810,000 after acquiring an additional 21,332 shares during the last quarter. Marshall Wace LLP grew its position in shares of GSI Technology by 112.7% in the 4th quarter. Marshall Wace LLP now owns 727,077 shares of the semiconductor company’s stock valued at $4,515,000 after acquiring an additional 385,185 shares during the period. Two Sigma Investments LP grew its position in shares of GSI Technology by 46.6% in the 3rd quarter. Two Sigma Investments LP now owns 391,258 shares of the semiconductor company’s stock valued at $1,440,000 after acquiring an additional 124,360 shares during the period. Finally, Concentric Capital Strategies LP acquired a new position in shares of GSI Technology during the 4th quarter worth about $2,116,000. 33.15% of the stock is currently owned by institutional investors and hedge funds.

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.