GSI Technology (NASDAQ:GSIT) Stock Keeps “Buy” Rating at Needham & Company LLC

GSI Technology (NASDAQ:GSIT)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a note issued to investors on Thursday, Benzinga reports. They currently have a $9.00 price target on the semiconductor company’s stock. Needham & Company LLC‘s price objective suggests a potential upside of 127.68% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Weiss Ratings restated a “sell (d-)” rating on shares of GSI Technology in a report on Thursday, October 15th. Williams Trading set a $9.00 target price on GSI Technology in a research report on Monday, September 14th. Finally, Wall Street Zen raised GSI Technology from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 10th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $9.00.

GSI Technology Trading Down 3.8%

Shares of GSI Technology stock traded down $0.16 on Thursday, hitting $3.95. The stock had a trading volume of 43,113 shares, compared to its average volume of 1,121,485. The company’s 50 day moving average price is $5.38 and its 200 day moving average price is $6.70. The stock has a market cap of $151.91 million, a price-to-earnings ratio of -8.59 and a beta of 2.11. GSI Technology has a 52-week low of $3.90 and a 52-week high of $13.30.

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

Institutional Investors Weigh In On GSI Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. HB Wealth Management LLC acquired a new stake in GSI Technology during the 2nd quarter valued at $155,000. Bank of America Corp DE bought a new stake in GSI Technology in the second quarter worth $448,000. Canada Pension Plan Investment Board acquired a new position in GSI Technology during the 2nd quarter worth $257,000. Algert Global LLC acquired a new position in GSI Technology during the 2nd quarter worth $153,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in GSI Technology during the 2nd quarter worth $2,385,000. Institutional investors own 33.15% of the company’s stock.

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.