GSI Technology (NASDAQ:GSIT) Releases Earnings Results

GSI Technology (NASDAQ:GSIT) posted its earnings results on Thursday. The semiconductor company reported ($0.09) earnings per share (EPS) for the quarter, Zacks reports. GSI Technology had a negative net margin of 48.54% and a negative return on equity of 34.79%.

GSI Technology Stock Down 3.9%

NASDAQ GSIT traded down $0.31 during trading hours on Thursday, reaching $7.54. The company’s stock had a trading volume of 1,889,571 shares, compared to its average volume of 1,770,697. GSI Technology has a 1 year low of $1.62 and a 1 year high of $18.15. The firm’s 50-day moving average price is $6.84 and its 200-day moving average price is $5.84. The company has a market capitalization of $265.71 million, a price-to-earnings ratio of -17.14 and a beta of 1.46.

Insiders Place Their Bets

In other GSI Technology news, VP Patrick T. Chuang sold 40,000 shares of GSI Technology stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $8.66, for a total value of $346,400.00. Following the sale, the vice president directly owned 15,166 shares in the company, valued at approximately $131,337.56. The trade was a 72.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Avidan Akerib sold 135,286 shares of GSI Technology stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $9.05, for a total value of $1,224,338.30. Following the completion of the sale, the vice president directly owned 23,307 shares in the company, valued at $210,928.35. This trade represents a 85.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 230,018 shares of company stock valued at $2,038,150. 25.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On GSI Technology

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of GSI Technology by 8.8% in the 3rd quarter. Vanguard Group Inc. now owns 937,711 shares of the semiconductor company’s stock valued at $3,451,000 after acquiring an additional 75,882 shares during the last quarter. Two Sigma Investments LP lifted its stake in shares of GSI Technology by 46.6% in the 3rd quarter. Two Sigma Investments LP now owns 391,258 shares of the semiconductor company’s stock valued at $1,440,000 after purchasing an additional 124,360 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of GSI Technology by 47.9% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 235,517 shares of the semiconductor company’s stock valued at $867,000 after purchasing an additional 76,268 shares during the last quarter. Marshall Wace LLP purchased a new stake in GSI Technology during the 2nd quarter valued at $642,000. Finally, Squarepoint Ops LLC lifted its position in GSI Technology by 725.2% in the third quarter. Squarepoint Ops LLC now owns 175,385 shares of the semiconductor company’s stock worth $645,000 after buying an additional 154,132 shares during the last quarter. Institutional investors own 33.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of GSI Technology in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, GSI Technology currently has a consensus 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.