GSI Technology (NASDAQ:GSIT) CEO Sells $365,535.17 in Stock

GSI Technology, Inc. (NASDAQ:GSIT) CEO Lee-Lean Shu sold 36,517 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $10.01, for a total transaction of $365,535.17. Following the sale, the chief executive officer directly owned 1,982,417 shares in the company, valued at $19,843,994.17. This trade represents a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Lee-Lean Shu also recently made the following trade(s):

• On Monday, March 16th, Lee-Lean Shu sold 30,734 shares of GSI Technology stock. The stock was sold at an average price of $10.02, for a total transaction of $307,954.68.

GSI Technology Stock Down 13.2%

NASDAQ:GSIT traded down $1.29 during trading hours on Tuesday, hitting $8.48. 1,977,057 shares of the stock were exchanged, compared to its average volume of 799,494. The company has a market capitalization of $306.89 million, a P/E ratio of -22.92 and a beta of 1.44. The company’s 50 day moving average is $7.55 and its two-hundred day moving average is $6.69. GSI Technology, Inc. has a twelve month low of $1.62 and a twelve month high of $18.15.

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

Institutional Trading of GSI Technology

Institutional investors have recently bought and sold shares of the business. Osaic Holdings Inc. lifted its stake in shares of GSI Technology by 52.1% in the 2nd 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 during the period. CIBC Private Wealth Group LLC acquired a new stake in shares of GSI Technology during the fourth quarter worth $31,000. R Squared Ltd bought a new stake in GSI Technology in the third quarter valued at about $38,000. Virtu Financial LLC bought a new stake in GSI Technology in the fourth quarter valued at about $76,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in GSI Technology in the fourth quarter valued at about $81,000. Institutional investors and hedge funds own 33.15% of the company’s stock.

Wall Street Analysts Forecast Growth

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