GSI Technology (NASDAQ:GSIT) CEO Lee-Lean Shu Sells 132,749 Shares of Stock

GSI Technology, Inc. (NASDAQ:GSIT) CEO Lee-Lean Shu sold 132,749 shares of GSI Technology stock in a transaction on Monday, May 11th. The stock was sold at an average price of $11.54, for a total transaction of $1,531,923.46. Following the transaction, the chief executive officer directly owned 1,982,417 shares in the company, valued at approximately $22,877,092.18. This represents a 6.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, May 11th, Lee-Lean Shu sold 10,313 shares of GSI Technology stock. The stock was sold at an average price of $10.51, for a total transaction of $108,389.63.
• 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 transaction of $307,954.68.
• On Tuesday, March 17th, Lee-Lean Shu sold 36,517 shares of GSI Technology stock. The stock was sold at an average price of $10.01, for a total transaction of $365,535.17.

GSI Technology Stock Performance

Shares of NASDAQ GSIT traded down $0.18 during trading hours on Tuesday, hitting $11.54. 4,848,902 shares of the stock were exchanged, compared to its average volume of 1,681,021. The company has a market cap of $417.63 million, a PE ratio of -28.15 and a beta of 1.94. The company’s fifty day simple moving average is $7.10 and its two-hundred day simple moving average is $7.25. GSI Technology, Inc. has a 1-year low of $2.82 and a 1-year high of $18.15.

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GSI Technology in a report on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat, GSI Technology presently has an average rating of “Sell”.

Institutional Investors Weigh In On GSI Technology

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Osaic Holdings Inc. increased its stake in GSI Technology by 52.1% in the second quarter. Osaic Holdings Inc. now owns 12,012 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 4,112 shares in the last quarter. CIBC Private Wealth Group LLC purchased a new position in GSI Technology in the fourth quarter valued at about $31,000. R Squared Ltd purchased a new position in GSI Technology in the third quarter valued at about $38,000. Silverberg Bernstein Capital Management LLC boosted its stake in GSI Technology by 1.4% in the first quarter. Silverberg Bernstein Capital Management LLC now owns 785,706 shares of the semiconductor company’s stock valued at $4,039,000 after acquiring an additional 11,200 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in GSI Technology in the fourth quarter valued at about $76,000. 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.