Patrick Chuang Sells 40,000 Shares of GSI Technology (NASDAQ:GSIT) Stock

GSI Technology, Inc. (NASDAQ:GSIT) VP Patrick Chuang sold 40,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was 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 in the company, valued at $166,522.68. This trade represents a 72.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

GSI Technology Price Performance

Shares of NASDAQ:GSIT opened at $9.55 on Friday. The company’s 50-day moving average price is $7.86 and its two-hundred day moving average price is $7.32. GSI Technology, Inc. has a one year low of $2.82 and a one year high of $18.15. The stock has a market capitalization of $345.61 million, a PE ratio of -23.29 and a beta of 2.00.

GSI Technology (NASDAQ:GSIT) last issued its quarterly earnings results on Thursday, May 7th. The semiconductor company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.06. GSI Technology had a negative net margin of 52.73% and a negative return on equity of 24.91%. The firm had revenue of $6.32 million for the quarter, compared to analysts’ expectations of $7.30 million.

Analyst Ratings Changes

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

Institutional Investors Weigh In On GSI Technology

A number of institutional investors and hedge funds have recently modified their holdings of GSIT. Jones Financial Companies Lllp bought a new stake in shares of GSI Technology in the 1st quarter valued at about $80,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of GSI Technology in the 2nd quarter valued at about $535,000. Marshall Wace LLP bought a new stake in shares of GSI Technology in the 2nd quarter valued at about $642,000. Jane Street Group LLC bought a new stake in shares of GSI Technology in the 2nd quarter valued at about $342,000. Finally, Bank of America Corp DE raised 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 valued at $46,000 after purchasing an additional 13,526 shares during the period. 33.15% of the stock is owned by 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.