GSI Technology (NASDAQ:GSIT) VP Ping Tak Wu Sells 30,000 Shares

GSI Technology, Inc. (NASDAQ:GSIT) VP Ping Tak Wu sold 30,000 shares of GSI Technology stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $11.01, for a total value of $330,300.00. Following the completion of the sale, the vice president directly owned 148,441 shares in the company, valued at approximately $1,634,335.41. This represents a 16.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Ping Tak Wu also recently made the following trade(s):

• On Tuesday, May 12th, Ping Tak Wu sold 11,763 shares of GSI Technology stock. The shares were sold at an average price of $10.80, for a total value of $127,040.40.

GSI Technology Stock Performance

GSI Technology stock traded down $0.22 during midday trading on Wednesday, reaching $10.33. The stock had a trading volume of 2,835,090 shares, compared to its average volume of 1,479,567. The firm’s fifty day simple moving average is $7.40 and its 200-day simple moving average is $7.21. GSI Technology, Inc. has a 1-year low of $2.82 and a 1-year high of $18.15. The stock has a market capitalization of $373.80 million, a P/E ratio of -25.20 and a beta of 1.94.

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

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GSI Technology in a research report on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat, GSI Technology currently has an average rating of “Sell”.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in GSIT. Marshall Wace LLP increased its position in shares of GSI Technology by 112.7% during the 4th quarter. Marshall Wace LLP now owns 727,077 shares of the semiconductor company’s stock worth $4,515,000 after purchasing an additional 385,185 shares during the last quarter. Concentric Capital Strategies LP acquired a new stake in shares of GSI Technology in the fourth quarter valued at approximately $2,116,000. UBS Group AG lifted its position in shares of GSI Technology by 9,603.2% in the third quarter. UBS Group AG now owns 167,672 shares of the semiconductor company’s stock valued at $617,000 after buying an additional 165,944 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of GSI Technology by 270.3% during the 4th quarter. Jane Street Group LLC now owns 221,094 shares of the semiconductor company’s stock worth $1,373,000 after acquiring an additional 161,380 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of GSI Technology during the 2nd quarter worth approximately $535,000. Institutional investors and hedge funds 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.