Insider Selling: GSI Technology (NASDAQ:GSIT) VP Sells $346,400.00 in Stock

GSI Technology, Inc. (NASDAQ:GSIT) VP Bor-Tay Wu sold 40,000 shares of GSI Technology stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $8.66, for a total value of $346,400.00. Following the sale, the vice president directly owned 912,500 shares in the company, valued at $7,902,250. The trade was a 4.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

GSI Technology Trading Down 4.8%

GSIT opened at $8.19 on Friday. The stock has a market cap of $296.40 million, a PE ratio of -22.13 and a beta of 1.44. GSI Technology, Inc. has a 1 year low of $1.62 and a 1 year high of $18.15. The stock’s 50 day simple moving average is $7.45 and its 200-day simple moving average is $6.51.

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

Hedge Funds Weigh In On GSI Technology

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

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GSI Technology in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, 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.