GSI Technology (NASDAQ:GSIT) CEO Lee-Lean Shu Sells 10,313 Shares

GSI Technology, Inc. (NASDAQ:GSIT) CEO Lee-Lean Shu sold 10,313 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $12.51, for a total transaction of $129,015.63. Following the transaction, the chief executive officer directly owned 530,939 shares in the company, valued at approximately $6,642,046.89. This represents a 1.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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, May 11th, Lee-Lean Shu sold 132,749 shares of GSI Technology stock. The shares were sold at an average price of $11.54, for a total transaction of $1,531,923.46.
• 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 Trading Down 11.4%

GSI Technology stock traded down $1.40 during midday trading on Thursday, reaching $10.86. The stock had a trading volume of 4,298,294 shares, compared to its average volume of 2,090,414. The company has a fifty day moving average price of $7.22 and a two-hundred day moving average price of $7.26. GSI Technology, Inc. has a 12 month low of $2.82 and a 12 month high of $18.15. The company has a market capitalization of $393.02 million, a P/E ratio of -26.49 and a beta of 1.94.

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

Analysts Set New Price Targets

Separately, Weiss Ratings restated 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, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Institutional Trading of GSI Technology

Institutional investors and hedge funds have recently modified their holdings of the business. CIBC Private Wealth Group LLC bought a new stake in GSI Technology during the fourth quarter worth $31,000. R Squared Ltd purchased a new stake in shares of GSI Technology during the 3rd quarter valued at $38,000. Osaic Holdings Inc. raised its stake in shares of GSI Technology by 52.1% during the 2nd quarter. Osaic Holdings Inc. now owns 12,012 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 4,112 shares during the period. Bank of America Corp DE boosted its holdings in shares of GSI Technology by 8,247.6% in the 2nd quarter. Bank of America Corp DE now owns 13,690 shares of the semiconductor company’s stock worth $46,000 after buying an additional 13,526 shares during the last quarter. Finally, Prelude Capital Management LLC purchased a new position in shares of GSI Technology in the 3rd quarter worth about $52,000. 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.