GSI Technology (NASDAQ:GSIT) VP Sells $225,419.91 in Stock

GSI Technology, Inc. (NASDAQ:GSIT) VP Avidan Akerib sold 19,653 shares of the company’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $11.47, for a total transaction of $225,419.91. Following the completion of the transaction, the vice president owned 23,307 shares of the company’s stock, valued at approximately $267,331.29. This trade represents a 45.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Avidan Akerib also recently made the following trade(s):

• On Tuesday, May 12th, Avidan Akerib sold 347 shares of GSI Technology stock. The stock was sold at an average price of $12.03, for a total transaction of $4,174.41.

GSI Technology Trading Down 11.2%

NASDAQ GSIT opened at $9.64 on Friday. The company has a 50-day moving average price of $7.25 and a two-hundred day moving average price of $7.28. The stock has a market cap of $348.87 million, a price-to-earnings ratio of -23.51 and a beta of 1.94. GSI Technology, Inc. has a 52 week low of $2.82 and a 52 week high of $18.15.

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

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of GSI Technology in a report on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, GSI Technology currently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of GSI Technology by 8.8% in the third 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 in the last quarter. Silverberg Bernstein Capital Management LLC boosted its holdings in 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 buying an additional 11,200 shares in the last quarter. Marshall Wace LLP boosted its holdings in GSI Technology by 112.7% during the fourth quarter. Marshall Wace LLP now owns 727,077 shares of the semiconductor company’s stock worth $4,515,000 after buying an additional 385,185 shares in the last quarter. Two Sigma Investments LP boosted its holdings in GSI Technology by 46.6% during the third quarter. Two Sigma Investments LP now owns 391,258 shares of the semiconductor company’s stock worth $1,440,000 after buying an additional 124,360 shares in the last quarter. Finally, Concentric Capital Strategies LP bought a new stake in GSI Technology during the fourth quarter worth approximately $2,116,000. 33.15% of the stock is currently owned by institutional investors.

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.