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

GSI Technology, Inc. (NASDAQ:GSIT) VP Patrick Chuang sold 40,000 shares of GSI Technology stock in a transaction that occurred 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 completion of the transaction, the vice president owned 15,166 shares of the company’s stock, valued at approximately $161,972.88. This trade represents a 72.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

GSI Technology Price Performance

GSI Technology stock opened at $12.26 on Thursday. GSI Technology, Inc. has a 1-year low of $2.82 and a 1-year high of $18.15. The firm has a market capitalization of $443.69 million, a P/E ratio of -29.90 and a beta of 1.94. The company’s 50-day moving average is $7.17 and its 200 day moving average is $7.25.

GSI Technology (NASDAQ:GSIT) last posted its quarterly earnings data on Thursday, May 7th. The semiconductor company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. GSI Technology had a negative net margin of 52.73% and a negative return on equity of 24.91%. The company had revenue of $6.32 million for the quarter, compared to analyst estimates of $7.30 million.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of GSI Technology in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, GSI Technology has an average rating of “Sell”.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. CIBC Private Wealth Group LLC bought a new position in GSI Technology in the fourth quarter worth approximately $31,000. R Squared Ltd bought a new position in GSI Technology in the third quarter worth approximately $38,000. Osaic Holdings Inc. raised its stake in GSI Technology by 52.1% in the second quarter. Osaic Holdings Inc. now owns 12,012 shares of the semiconductor company’s stock worth $40,000 after buying an additional 4,112 shares in the last quarter. Bank of America Corp DE raised its stake in GSI Technology by 8,247.6% in the second 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 in the last quarter. Finally, Prelude Capital Management LLC bought a new position in GSI Technology in the third quarter worth approximately $52,000. Hedge funds and other institutional investors own 33.15% of the company’s stock.

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.