Bor-Tay Wu Sells 20,000 Shares of GSI Technology (NASDAQ:GSIT) Stock

GSI Technology, Inc. (NASDAQ:GSIT) VP Bor-Tay Wu sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $10.93, for a total transaction of $218,600.00. Following the transaction, the vice president directly owned 912,500 shares of the company’s stock, valued at $9,973,625. This trade represents a 2.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Bor-Tay Wu also recently made the following trade(s):

• On Tuesday, March 10th, Bor-Tay Wu sold 40,000 shares of GSI Technology stock. The shares were sold at an average price of $8.66, for a total transaction of $346,400.00.

GSI Technology Stock Down 2.1%

Shares of NASDAQ GSIT opened at $10.33 on Thursday. GSI Technology, Inc. has a 52-week low of $2.82 and a 52-week high of $18.15. The firm has a fifty day moving average of $7.41 and a 200-day moving average of $7.23. The stock has a market capitalization of $373.84 million, a PE ratio of -25.20 and a beta of 1.94.

GSI Technology (NASDAQ:GSIT) last announced its quarterly earnings data on Thursday, May 7th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, beating 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 company had revenue of $6.32 million during the quarter, compared to analysts’ expectations of $7.30 million.

Institutional Investors Weigh In On GSI Technology

Institutional investors have recently bought and sold shares of the business. CIBC Private Wealth Group LLC purchased a new stake in GSI Technology during the fourth quarter worth approximately $31,000. R Squared Ltd purchased a new stake in GSI Technology during the third quarter worth approximately $38,000. Osaic Holdings Inc. grew 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 period. Virtu Financial LLC purchased a new stake in GSI Technology during the fourth quarter worth approximately $76,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in GSI Technology during the fourth quarter worth approximately $81,000. 33.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.