Insider Selling: GSI Technology (NASDAQ:GSIT) VP Sells 11,763 Shares of Stock

GSI Technology, Inc. (NASDAQ:GSIT) VP Ping Tak Wu sold 11,763 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $10.80, for a total transaction of $127,040.40. Following the sale, the vice president owned 147,647 shares of the company’s stock, valued at approximately $1,594,587.60. This represents a 7.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

GSI Technology Stock Performance

Shares of NASDAQ GSIT traded down $1.40 during trading hours on Thursday, hitting $10.86. The company’s stock had a trading volume of 4,298,294 shares, compared to its average volume of 2,090,414. GSI Technology, Inc. has a 12 month low of $2.82 and a 12 month high of $18.15. The stock has a market cap of $393.02 million, a price-to-earnings ratio of -26.49 and a beta of 1.94. The business has a 50-day simple moving average of $7.22 and a 200-day simple moving average of $7.26.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in GSIT. Schonfeld Strategic Advisors LLC purchased a new position in shares of GSI Technology in the 4th quarter valued at approximately $81,000. NewEdge Advisors LLC bought a new stake in shares of GSI Technology during the third quarter valued at approximately $68,000. Prelude Capital Management LLC bought a new position in GSI Technology in the third quarter worth $52,000. Algert Global LLC bought a new position in GSI Technology in the third quarter worth $88,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in GSI Technology during the third quarter valued at $69,000. Institutional investors own 33.15% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.