GSI Technology Sees Unusually High Options Volume (NASDAQ:GSIT)

GSI Technology, Inc. (NASDAQ:GSIT) saw some unusual options trading activity on Friday. Stock investors purchased 4,136 call options on the company. This is an increase of 64% compared to the typical volume of 2,523 call options.

Insider Activity

In other GSI Technology news, VP Patrick T. Chuang sold 40,000 shares of the company’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $8.66, for a total value of $346,400.00. Following the sale, the vice president owned 15,166 shares in the company, valued at approximately $131,337.56. This represents a 72.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Avidan Akerib sold 54,732 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $8.54, for a total transaction of $467,411.28. Following the transaction, the vice president directly owned 23,307 shares of the company’s stock, valued at $199,041.78. This represents a 70.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 230,018 shares of company stock worth $2,038,150 in the last three months. 25.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GSI Technology

Large investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC purchased a new stake in GSI Technology during the 3rd quarter valued at $68,000. Prelude Capital Management LLC bought a new stake in shares of GSI Technology in the third quarter worth $52,000. Algert Global LLC purchased a new stake in GSI Technology during the third quarter valued at $88,000. Two Sigma Investments LP lifted its holdings in GSI Technology by 46.6% in the third quarter. Two Sigma Investments LP now owns 391,258 shares of the semiconductor company’s stock valued at $1,440,000 after acquiring an additional 124,360 shares during the period. Finally, Squarepoint Ops LLC boosted its position in GSI Technology by 725.2% in the third quarter. Squarepoint Ops LLC now owns 175,385 shares of the semiconductor company’s stock worth $645,000 after purchasing an additional 154,132 shares during the last quarter. Institutional investors own 33.15% of the company’s stock.

GSI Technology Stock Up 27.7%

Shares of GSI Technology stock traded up $1.68 on Friday, reaching $7.74. The company’s stock had a trading volume of 4,608,198 shares, compared to its average volume of 1,867,290. GSI Technology has a 52 week low of $1.62 and a 52 week high of $18.15. The firm’s fifty day simple moving average is $7.70 and its two-hundred day simple moving average is $5.15. The company has a market capitalization of $272.72 million, a price-to-earnings ratio of -17.58 and a beta of 1.46.

GSI Technology (NASDAQ:GSIT) last released its quarterly earnings data on Thursday, October 30th. The semiconductor company reported ($0.11) EPS for the quarter. GSI Technology had a negative net margin of 48.54% and a negative return on equity of 34.79%. The business had revenue of $6.44 million for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of GSI Technology in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average 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.