GSI Technology (NASDAQ:GSIT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of GSI Technology (NASDAQ:GSIT) from a strong sell rating to a sell rating in a research note issued to investors on Saturday,Wall Street Zen reports.

Other equities research analysts have also issued reports about the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GSI Technology in a research note on Friday, July 17th. Needham & Company LLC began coverage on GSI Technology in a research report on Monday, September 14th. They set a “buy” rating and a $9.00 target price on the stock. Finally, Williams Trading set a $9.00 target price on GSI Technology in a research report on Monday, September 14th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $9.00.

GSI Technology Stock Performance

GSIT opened at $4.50 on Friday. The stock has a market cap of $172.94 million, a price-to-earnings ratio of -9.78 and a beta of 2.11. The firm’s fifty day moving average is $5.72 and its 200 day moving average is $6.76. GSI Technology has a fifty-two week low of $4.42 and a fifty-two week high of $18.15.

GSI Technology (NASDAQ:GSIT) last issued its earnings results on Thursday, July 30th. The semiconductor company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. The firm had revenue of $6.31 million during the quarter, compared to analyst estimates of $7.30 million. GSI Technology had a negative net margin of 62.90% and a negative return on equity of 21.39%.

Institutional Investors Weigh In On GSI Technology

Several hedge funds have recently made changes to their positions in GSIT. BlackRock Inc. acquired a new position in GSI Technology in the 2nd quarter worth approximately $18,551,000. GSA Capital Partners LLP purchased a new position in GSI Technology during the 2nd quarter worth approximately $1,377,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in GSI Technology during the 2nd quarter valued at approximately $2,385,000. JB Capital Partners LP acquired a new stake in GSI Technology during the 2nd quarter valued at approximately $255,090. Finally, Allworth Financial LP acquired a new stake in GSI Technology during the 2nd quarter valued at approximately $86,000. 33.15% of the stock is currently owned by hedge funds and other institutional investors.

GSI Technology Company Profile

GSI Technology, Inc is a semiconductor company that develops and markets high-performance memory and computing solutions. Its products are designed for applications that require fast data access, reliable operation and high bandwidth, including communications infrastructure, networking equipment, industrial systems, aerospace and defense applications.

The company’s product portfolio has historically centered on static random-access memory (SRAM), including synchronous and high-speed memory devices sold under product families such as SigmaQuad and SigmaDDR.