GSI Technology (NASDAQ:GSIT) CEO Lee-Lean Shu Sells 10,313 Shares

GSI Technology, Inc. (NASDAQ:GSIT) CEO Lee-Lean Shu sold 10,313 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $12.51, for a total value of $129,015.63. Following the sale, the chief executive officer owned 530,939 shares in the company, valued at approximately $6,642,046.89. This trade represents a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Lee-Lean Shu also recently made the following trade(s):

• On Monday, May 11th, Lee-Lean Shu sold 10,313 shares of GSI Technology stock. The stock was sold at an average price of $10.51, for a total value of $108,389.63.
• On Monday, May 11th, Lee-Lean Shu sold 132,749 shares of GSI Technology stock. The stock was sold at an average price of $11.54, for a total value of $1,531,923.46.
• On Monday, March 16th, Lee-Lean Shu sold 30,734 shares of GSI Technology stock. The stock was sold at an average price of $10.02, for a total value of $307,954.68.
• On Tuesday, March 17th, Lee-Lean Shu sold 36,517 shares of GSI Technology stock. The stock was sold at an average price of $10.01, for a total value of $365,535.17.

GSI Technology Price Performance

GSI Technology stock opened at $10.86 on Friday. The stock’s 50 day moving average is $7.22 and its 200 day moving average is $7.26. The firm has a market cap of $393.02 million, a P/E ratio of -26.49 and a beta of 1.94. GSI Technology, Inc. has a one year low of $2.82 and a one year high of $18.15.

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

Hedge Funds Weigh In On GSI Technology

Several institutional investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. lifted 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 valued at $40,000 after buying an additional 4,112 shares during the period. CIBC Private Wealth Group LLC acquired a new position in GSI Technology in the fourth quarter valued at approximately $31,000. R Squared Ltd acquired a new position in GSI Technology in the third quarter valued at approximately $38,000. Silverberg Bernstein Capital Management LLC raised its position in shares of GSI Technology by 1.4% during the first quarter. Silverberg Bernstein Capital Management LLC now owns 785,706 shares of the semiconductor company’s stock worth $4,039,000 after purchasing an additional 11,200 shares during the period. Finally, Virtu Financial LLC acquired a new position in shares of GSI Technology during the fourth quarter worth approximately $76,000. 33.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of GSI Technology in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company 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.