GSI Technology Inc. (NASDAQ:GSIT) released its earnings results on Thursday. The company reported $0.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.04. The company had revenue of $12.95 million for the quarter, compared to analysts’ expectations of $12.70 million. During the same quarter last year, the firm posted ($0.04) earnings per share. GSI Technology’s revenue for the quarter was down 7.7% on a year-over-year basis.
GSI Technology (NASDAQ:GSIT) traded up 1.75% during midday trading on Thursday, reaching $5.22. The company’s stock had a trading volume of 28,222 shares. The stock’s 50 day moving average price is $4.39 and its 200-day moving average price is $3.96. The stock’s market cap is $110.71 million. GSI Technology has a one year low of $3.33 and a one year high of $5.27.
Separately, TheStreet upgraded GSI Technology from a “sell” rating to a “hold” rating in a research report on Monday, July 18th.
GSI Technology, Inc develops and markets memory products, including Very Fast static random access memory (SRAM) and low latency dynamic random access memory (LLDRAM). The Company’s products are incorporated primarily in networking and telecommunications equipment, such as routers, switches, wide area network infrastructure equipment, wireless base stations and network access equipment.
