GSI Technology (NASDAQ:GSIT) Stock Crosses Above 200 Day Moving Average – What’s Next?

GSI Technology, Inc. (NASDAQ:GSIT)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.20 and traded as high as $9.63. GSI Technology shares last traded at $9.27, with a volume of 1,322,120 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GSI Technology in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

GSI Technology Trading Up 4.2%

The firm has a market cap of $349.60 million, a price-to-earnings ratio of -23.56 and a beta of 1.94. The company’s 50-day moving average is $7.33 and its 200-day moving average is $7.21.

GSI Technology (NASDAQ:GSIT) last posted its quarterly earnings results on Thursday, May 7th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.06. GSI Technology had a negative net margin of 52.73% and a negative return on equity of 24.91%. The business had revenue of $6.32 million for the quarter, compared to analyst estimates of $7.30 million.

Insider Transactions at GSI Technology

In other news, VP Didier Lasserre sold 30,000 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $9.31, for a total transaction of $279,300.00. Following the completion of the transaction, the vice president owned 310,907 shares of the company’s stock, valued at approximately $2,894,544.17. This trade represents a 8.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Ping Tak Wu sold 11,763 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $10.80, for a total transaction of $127,040.40. Following the transaction, the vice president directly owned 147,647 shares of the company’s stock, valued at $1,594,587.60. The trade was a 7.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 422,389 shares of company stock valued at $4,472,553. Corporate insiders own 25.40% of the company’s stock.

Hedge Funds Weigh In On GSI Technology

Several large investors have recently modified their holdings of GSIT. 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 worth $40,000 after buying an additional 4,112 shares during the last quarter. CIBC Private Wealth Group LLC bought a new position in GSI Technology during the fourth quarter worth $31,000. R Squared Ltd bought a new position in GSI Technology during the third quarter worth $38,000. Silverberg Bernstein Capital Management LLC raised its stake in GSI Technology by 1.4% during the first quarter. Silverberg Bernstein Capital Management LLC now owns 785,706 shares of the semiconductor company’s stock worth $4,039,000 after buying an additional 11,200 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in GSI Technology during the fourth quarter worth $76,000. 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.