Patrick Chuang Sells 40,000 Shares of GSI Technology (NASDAQ:GSIT) Stock

GSI Technology, Inc. (NASDAQ:GSIT) VP Patrick Chuang sold 40,000 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $10.68, for a total value of $427,200.00. Following the transaction, the vice president owned 15,166 shares of the company’s stock, valued at $161,972.88. The trade was a 72.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

GSI Technology Trading Up 6.2%

Shares of GSIT stock traded up $0.72 on Wednesday, hitting $12.26. 4,390,786 shares of the stock were exchanged, compared to its average volume of 1,895,806. The firm has a market capitalization of $443.69 million, a PE ratio of -29.90 and a beta of 1.94. GSI Technology, Inc. has a one year low of $2.82 and a one year high of $18.15. The firm’s 50 day moving average is $7.17 and its two-hundred day moving average is $7.25.

GSI Technology (NASDAQ:GSIT) last posted its quarterly earnings results 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 company had revenue of $6.32 million during the quarter, compared to the consensus estimate of $7.30 million. GSI Technology had a negative return on equity of 24.91% and a negative net margin of 52.73%.

Institutional Trading of GSI Technology

Institutional investors and hedge funds have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership raised its holdings in shares of GSI Technology by 47.9% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 235,517 shares of the semiconductor company’s stock valued at $867,000 after acquiring an additional 76,268 shares in the last quarter. 683 Capital Management LLC purchased a new stake in shares of GSI Technology in the 4th quarter valued at about $738,000. State Street Corp raised its holdings in shares of GSI Technology by 31.9% in the 4th quarter. State Street Corp now owns 106,142 shares of the semiconductor company’s stock valued at $659,000 after acquiring an additional 25,700 shares in the last quarter. Squarepoint Ops LLC raised its holdings in shares of GSI Technology by 725.2% in the 3rd quarter. Squarepoint Ops LLC now owns 175,385 shares of the semiconductor company’s stock valued at $645,000 after acquiring an additional 154,132 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of GSI Technology in the 2nd quarter valued at about $642,000. Hedge funds and other 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 report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently 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.