GSI Technology (NASDAQ:GSIT) CEO Sells $365,535.17 in Stock

GSI Technology, Inc. (NASDAQ:GSIT) CEO Lee-Lean Shu sold 36,517 shares of the business’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $10.01, for a total value of $365,535.17. Following the transaction, the chief executive officer owned 1,982,417 shares of the company’s stock, valued at $19,843,994.17. This trade represents a 1.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Monday, March 16th, Lee-Lean Shu sold 30,734 shares of GSI Technology stock. The shares were sold at an average price of $10.02, for a total value of $307,954.68.

GSI Technology Stock Performance

Shares of GSIT opened at $6.23 on Friday. GSI Technology, Inc. has a one year low of $1.62 and a one year high of $18.15. The stock’s fifty day moving average is $7.49 and its 200-day moving average is $6.68. The firm has a market capitalization of $225.46 million, a price-to-earnings ratio of -16.84 and a beta of 1.44.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in GSI Technology in the second quarter worth about $165,000. XTX Topco Ltd bought a new position in shares of GSI Technology during the 2nd quarter valued at about $246,000. Quadrature Capital Ltd acquired a new position in shares of GSI Technology in the 2nd quarter worth approximately $90,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of GSI Technology in the 3rd quarter worth approximately $69,000. Finally, NewEdge Advisors LLC bought a new stake in shares of GSI Technology in the 3rd quarter worth approximately $68,000. 33.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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