GSI Technology, Inc. (NASDAQ:GSIT) Short Interest Down 24.2% in February

GSI Technology, Inc. (NASDAQ:GSIT) was the recipient of a large drop in short interest in the month of February. As of February 13th, there was short interest totaling 2,008,019 shares, a drop of 24.2% from the January 29th total of 2,650,195 shares. Based on an average daily volume of 961,187 shares, the short-interest ratio is presently 2.1 days. Approximately 7.4% of the company’s shares are sold short. Approximately 7.4% of the company’s shares are sold short. Based on an average daily volume of 961,187 shares, the short-interest ratio is presently 2.1 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GSI Technology in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

GSI Technology Trading Up 1.5%

GSIT traded up $0.12 during trading on Wednesday, hitting $8.16. 311,204 shares of the company’s stock traded hands, compared to its average volume of 1,298,421. The stock has a market capitalization of $295.31 million, a price-to-earnings ratio of -22.05 and a beta of 1.44. The company’s 50 day simple moving average is $7.20 and its two-hundred day simple moving average is $6.30. GSI Technology has a 12-month low of $1.62 and a 12-month high of $18.15.

GSI Technology (NASDAQ:GSIT) last announced its quarterly earnings results on Thursday, January 29th. The semiconductor company reported ($0.09) earnings per share (EPS) for the quarter. GSI Technology had a negative net margin of 43.15% and a negative return on equity of 22.69%. The business had revenue of $6.08 million for the quarter.

Insider Buying and Selling at GSI Technology

In related news, VP Patrick T. Chuang sold 20,000 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $8.37, for a total transaction of $167,400.00. Following the transaction, the vice president owned 15,166 shares in the company, valued at $126,939.42. The trade was a 56.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 25.40% of the company’s stock.

Institutional Investors Weigh In On GSI Technology

Several institutional investors and hedge funds have recently modified their holdings of the stock. CIBC Private Wealth Group LLC bought a new position in shares of GSI Technology during the 4th quarter valued at approximately $31,000. R Squared Ltd purchased a new stake in GSI Technology during the third quarter valued at $38,000. Osaic Holdings Inc. raised its stake in GSI Technology by 52.1% during the second quarter. Osaic Holdings Inc. now owns 12,012 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 4,112 shares in the last quarter. Virtu Financial LLC bought a new position in GSI Technology during the fourth quarter valued at $76,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in shares of GSI Technology in the 4th quarter worth $81,000. Institutional investors own 33.15% of the company’s stock.

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.