GSI Technology (NASDAQ:GSIT) Raised to “Sell” at ValuEngine

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ValuEngine upgraded shares of GSI Technology (NASDAQ:GSIT) from a strong sell rating to a sell rating in a research report sent to investors on Thursday morning, ValuEngine reports.

Shares of GSIT traded down $0.21 during trading hours on Thursday, hitting $7.59. The stock had a trading volume of 1,910 shares, compared to its average volume of 39,562. The firm has a 50-day moving average price of $8.47 and a 200 day moving average price of $8.21. GSI Technology has a fifty-two week low of $4.62 and a fifty-two week high of $9.00. The firm has a market capitalization of $177.32 million, a price-to-earnings ratio of 109.71 and a beta of 1.37.

GSI Technology (NASDAQ:GSIT) last posted its quarterly earnings data on Thursday, July 25th. The semiconductor company reported ($0.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.03). The company had revenue of $13.02 million for the quarter. GSI Technology had a return on equity of 1.83% and a net margin of 3.16%.

In other GSI Technology news, VP Ping Tak Wu sold 8,880 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $8.04, for a total transaction of $71,395.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Yau sold 4,592 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $9.00, for a total transaction of $41,328.00. The disclosure for this sale can be found here. Insiders have sold 13,509 shares of company stock valued at $113,056 over the last 90 days. 35.50% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of GSIT. JPMorgan Chase & Co. raised its position in GSI Technology by 49.8% during the second quarter. JPMorgan Chase & Co. now owns 14,139 shares of the semiconductor company’s stock worth $122,000 after acquiring an additional 4,698 shares during the period. Strs Ohio acquired a new position in GSI Technology during the second quarter worth $148,000. Wells Fargo & Company MN raised its position in GSI Technology by 11.5% during the second quarter. Wells Fargo & Company MN now owns 20,648 shares of the semiconductor company’s stock worth $177,000 after acquiring an additional 2,135 shares during the period. Acadian Asset Management LLC raised its position in GSI Technology by 287.9% during the second quarter. Acadian Asset Management LLC now owns 22,833 shares of the semiconductor company’s stock worth $196,000 after acquiring an additional 16,946 shares during the period. Finally, Morgan Stanley raised its position in GSI Technology by 329.7% during the second quarter. Morgan Stanley now owns 23,021 shares of the semiconductor company’s stock worth $197,000 after acquiring an additional 17,663 shares during the period. Institutional investors own 32.04% of the company’s stock.

About GSI Technology

GSI Technology, Inc, a fabless semiconductor company, designs, develops, and markets memory products primarily for the networking and telecommunications markets in the United States, China, Singapore, the Netherlands, and internationally. It offers synchronous static random access memory (SRAM) products, such as BurstRAMs for microprocessor cache applications; No Bus Turnaround SRAMs to address the needs of moderate performance networking applications; SigmaQuad and SigmaDDR products that are double data rate and quad data rate synchronous SRAMs; and radiation-hardened SRAMs for aerospace and military applications, such as networking satellites and missiles.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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