GSI Technology (NASDAQ:GSIT) Issues Earnings Results

GSI Technology (NASDAQ:GSIT) issued its quarterly earnings data on Thursday. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06, FiscalAI reports. GSI Technology had a negative net margin of 62.90% and a negative return on equity of 23.27%. The business had revenue of $6.31 million for the quarter, compared to the consensus estimate of $7.30 million.

Here are the key takeaways from GSI Technology’s conference call:

• Gemini-II commercialization is advancing, with the company completing key deliverables for the Sentinel proof of concept and remaining on track to deploy its Smart City Phase 1 project across 20 cameras by November.
• GSI reported successful Gemini-II radiation testing with no single-event latch-ups, potentially expanding the platform into low-power AI applications for satellites, aerospace, defense, and other harsh environments.
• The AI-assisted SDK is targeted for alpha release this fall; management said early testing reduced one representative model-porting effort from roughly a year to less than a month, which could accelerate customer adoption and system-integrator engagement.
• GSI remains on schedule to tape out its next-generation Plato processor in March 2027 and ended the quarter with $77 million in cash and no debt, providing funding for development and customer evaluations.
• First-quarter revenue was $6.3 million, while operating expenses rose to $8.8 million and the operating loss widened to $5.4 million as the company invested in Gemini-II software and Plato; second-quarter revenue is expected to decline to $5.7 million–$6.5 million.

GSI Technology Stock Down 3.9%

NASDAQ:GSIT traded down $0.23 during trading hours on Friday, hitting $5.61. 1,093,085 shares of the stock traded hands, compared to its average volume of 690,646. The company has a market cap of $215.26 million, a price-to-earnings ratio of -12.20 and a beta of 2.06. GSI Technology has a 1 year low of $2.82 and a 1 year high of $18.15. The stock has a 50 day moving average price of $7.34 and a 200 day moving average price of $7.36.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on GSIT shares. Wall Street Zen downgraded GSI Technology from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GSI Technology in a report on Friday, July 17th. One analyst has rated the stock with a Sell rating, According to MarketBeat, GSI Technology has an average rating of “Sell”.

Insider Transactions at GSI Technology

In other news, VP Bor-Tay Wu sold 20,000 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $10.93, for a total transaction of $218,600.00. Following the sale, the vice president directly owned 912,500 shares in the company, valued at $9,973,625. This trade represents a 2.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Didier Lasserre sold 30,000 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $9.31, for a total value of $279,300.00. Following the completion of the sale, the vice president owned 310,907 shares of the company’s stock, valued at $2,894,544.17. The trade was a 8.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 385,138 shares of company stock valued at $4,273,363. Company insiders own 16.60% of the company’s stock.

Hedge Funds Weigh In On GSI Technology

A number of hedge funds have recently made changes to their positions in GSIT. CIBC Private Wealth Group LLC bought a new stake in GSI Technology during the 4th quarter valued at approximately $31,000. Osaic Holdings Inc. grew its holdings in GSI Technology by 52.1% during the 2nd 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 in the last quarter. Bank of America Corp DE boosted its position in shares of GSI Technology by 8,247.6% during the second quarter. Bank of America Corp DE now owns 13,690 shares of the semiconductor company’s stock worth $46,000 after acquiring an additional 13,526 shares during the last quarter. Prelude Capital Management LLC purchased a new position in GSI Technology during the third quarter valued at $52,000. Finally, NewEdge Advisors LLC bought a new stake in GSI Technology in the 3rd quarter valued at $68,000. 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.