GSI Technology (NASDAQ:GSIT) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a report issued on Wednesday, AnalystRatings.Net reports. They currently have a $7.30 price objective on the stock. Zacks‘ price target would indicate a potential upside of 9.28% from the stock’s previous close.
GSI Technology (NASDAQ:GSIT) traded up 0.45% on Wednesday, hitting $6.71. GSI Technology has a 1-year low of $4.40 and a 1-year high of $7.06. The stock’s 50-day moving average is currently $6.48. The company has a market cap of $182.4 million and a price-to-earnings ratio of 73.41.
GSI Technology (NASDAQ:GSIT) last issued its quarterly earnings data on Thursday, July 25th. The company reported ($0.02) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.03 by $0.05. The company had revenue of $16.40 million for the quarter, compared to the consensus estimate of $15.50 million. During the same quarter last year, the company posted $0.03 earnings per share. GSI Technology’s revenue was down 2.4% compared to the same quarter last year. Analysts expect that GSI Technology will post $0.19 EPS for the current fiscal year.
Separately, analysts at TheStreet downgraded shares of GSI Technology from a “buy” rating to a “hold” rating in a research note to investors on Friday, May 24th.
GSI Technology, Inc develops and markets memory products, including static random accesses memory (NASDAQ:GSIT) and low latency dynamic random access memory (LLDRAM), that are incorporated primarily in networking and telecommunications equipment, such as routers, switches, wide area network infrastructure equipment, wireless base stations and network access equipment.
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