Didier Lasserre Sells 30,000 Shares of GSI Technology (NASDAQ:GSIT) Stock

GSI Technology, Inc. (NASDAQ:GSIT) VP Didier Lasserre sold 30,000 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $9.31, for a total value of $279,300.00. Following the completion of the sale, the vice president directly owned 310,907 shares of the company’s stock, valued at approximately $2,894,544.17. This trade represents a 8.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

GSI Technology Stock Up 4.2%

GSIT opened at $9.66 on Friday. The business has a 50 day moving average price of $7.33 and a two-hundred day moving average price of $7.21. The company has a market cap of $349.56 million, a PE ratio of -23.56 and a beta of 1.94. GSI Technology, Inc. has a 52 week low of $2.82 and a 52 week high of $18.15.

GSI Technology (NASDAQ:GSIT) last posted its quarterly earnings data on Thursday, May 7th. The semiconductor company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.06. The firm 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%.

Analyst Ratings Changes

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

Institutional Trading of GSI Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC acquired a new stake in shares of GSI Technology in the 4th quarter valued at approximately $31,000. R Squared Ltd acquired a new stake in shares of GSI Technology in the 3rd quarter valued at approximately $38,000. Osaic Holdings Inc. lifted its holdings in shares of GSI Technology by 52.1% in the 2nd quarter. Osaic Holdings Inc. now owns 12,012 shares of the semiconductor company’s stock valued at $40,000 after buying an additional 4,112 shares during the period. Virtu Financial LLC acquired a new stake in shares of GSI Technology in the 4th quarter valued at approximately $76,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of GSI Technology in the 4th quarter valued at approximately $81,000. 33.15% of the stock is owned by hedge funds and other 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.