Short Interest in GSI Technology, Inc. (NASDAQ:GSIT) Decreases By 24.2%

GSI Technology, Inc. (NASDAQ:GSIT) saw a significant drop in short interest in February. As of February 13th, there was short interest totaling 2,008,019 shares, a drop of 24.2% from the January 29th total of 2,650,195 shares. Currently, 7.4% of the company’s stock are sold short. Based on an average trading volume of 961,187 shares, the short-interest ratio is presently 2.1 days. Based on an average trading volume of 961,187 shares, the short-interest ratio is presently 2.1 days. Currently, 7.4% of the company’s stock are sold short.

GSI Technology Price Performance

GSI Technology stock traded up $0.53 during midday trading on Monday, reaching $8.69. 1,486,190 shares of the company traded hands, compared to its average volume of 1,338,612. GSI Technology has a 12 month low of $1.62 and a 12 month high of $18.15. The business has a 50 day moving average of $7.10 and a two-hundred day moving average of $6.23. The firm has a market capitalization of $314.49 million, a price-to-earnings ratio of -23.49 and a beta of 1.44.

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

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of GSI Technology during the 2nd quarter valued at about $165,000. XTX Topco Ltd purchased a new position in shares of GSI Technology in the second quarter worth approximately $246,000. Virtu Financial LLC bought a new stake in GSI Technology during the fourth quarter valued at approximately $76,000. R Squared Ltd purchased a new stake in GSI Technology during the third quarter valued at approximately $38,000. Finally, Millennium Management LLC purchased a new stake in GSI Technology during the fourth quarter valued at approximately $285,000. Institutional investors 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.