GSI Technology (NASDAQ:GSIT) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of GSI Technology (NASDAQ:GSIT – Get Rating) in a report issued on Tuesday. The brokerage set a “hold” rating on the semiconductor company’s stock.

Shares of GSIT stock opened at $3.59 on Tuesday. The company has a market cap of $87.89 million, a price-to-earnings ratio of -4.72 and a beta of 0.71. The stock has a 50 day simple moving average of $4.04 and a 200-day simple moving average of $4.71. GSI Technology has a 1-year low of $3.48 and a 1-year high of $6.79.

GSI Technology (NASDAQ:GSIT – Get Rating) last announced its earnings results on Thursday, January 27th. The semiconductor company reported ($0.19) earnings per share for the quarter. The business had revenue of $8.07 million for the quarter. GSI Technology had a negative return on equity of 25.71% and a negative net margin of 56.71%.

A number of hedge funds and other institutional investors have recently bought and sold shares of GSIT. Acadian Asset Management LLC acquired a new position in GSI Technology in the 4th quarter valued at $75,000. Virtu Financial LLC acquired a new position in GSI Technology in the 4th quarter valued at $84,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in GSI Technology in the 4th quarter valued at $99,000. Citadel Advisors LLC raised its stake in GSI Technology by 186.1% in the 2nd quarter. Citadel Advisors LLC now owns 29,259 shares of the semiconductor company’s stock valued at $164,000 after purchasing an additional 19,032 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in GSI Technology by 265.4% in the 2nd quarter. Royal Bank of Canada now owns 30,340 shares of the semiconductor company’s stock valued at $170,000 after purchasing an additional 22,036 shares during the last quarter. 24.49% of the stock is owned by hedge funds and other institutional investors.

About GSI Technology (Get Rating)

GSI Technology, Inc, a fabless semiconductor company, designs, develops, and markets semiconductor memory solutions to networking, industrial, medical, aerospace, and military customers in the United States, China, Singapore, Germany, the Netherlands, and internationally. It offers static random access memory (SRAM) products, such as SyncBurst for microprocessor cache and other applications; No Bus Turnaround SRAMs to address the needs of networking and telecom applications; SigmaQuad and SigmaDDR products for density and random transaction rate requirements of networking and telecom applications; and radiation-hardened and radiation-tolerant SRAMs for aerospace and military applications, such as networking satellites and missiles.

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