Douglas Schirle Sells 40,000 Shares of GSI Technology (NASDAQ:GSIT) Stock

GSI Technology, Inc. (NASDAQ:GSIT) CFO Douglas Schirle sold 40,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $11.32, for a total transaction of $452,800.00. Following the transaction, the chief financial officer directly owned 69,046 shares of the company’s stock, valued at $781,600.72. The trade was a 36.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

GSI Technology Stock Performance

GSIT opened at $9.64 on Friday. GSI Technology, Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $18.15. The stock has a market capitalization of $348.87 million, a price-to-earnings ratio of -23.51 and a beta of 1.94. The company has a fifty day moving average of $7.25 and a 200 day moving average of $7.28.

GSI Technology (NASDAQ:GSIT) last issued its quarterly earnings data on Thursday, May 7th. The semiconductor company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $7.30 million.

Institutional Investors Weigh In On GSI Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Schonfeld Strategic Advisors LLC bought a new stake in GSI Technology during the 4th quarter valued at about $81,000. Jones Financial Companies Lllp bought a new stake in GSI Technology during the 1st quarter valued at about $80,000. Virtu Financial LLC bought a new stake in shares of GSI Technology in the 4th quarter valued at about $76,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of GSI Technology in the 3rd quarter valued at about $69,000. Finally, NewEdge Advisors LLC bought a new stake in shares of GSI Technology in the 3rd quarter valued at about $68,000. Institutional investors own 33.15% of the company’s stock.

Analyst Ratings Changes

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