GSI Technology (NASDAQ:GSIT) Receives New Coverage from Analysts at started coverage on shares of GSI Technology (NASDAQ:GSITGet Rating) in a note issued to investors on Thursday. The firm set a “hold” rating on the semiconductor company’s stock.

GSIT opened at $3.76 on Thursday. GSI Technology has a fifty-two week low of $3.48 and a fifty-two week high of $6.57. The business has a 50-day moving average of $3.88 and a 200-day moving average of $4.57. The company has a market capitalization of $92.06 million, a PE ratio of -4.95 and a beta of 0.67.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC acquired a new stake in shares of GSI Technology during the 4th quarter worth approximately $75,000. Virtu Financial LLC bought 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 during the 4th quarter worth about $99,000. Citadel Advisors LLC lifted its position in shares of GSI Technology by 186.1% during the second quarter. Citadel Advisors LLC now owns 29,259 shares of the semiconductor company’s stock worth $164,000 after purchasing an additional 19,032 shares in the last quarter. Finally, Royal Bank of Canada boosted its position 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 buying an additional 22,036 shares during the last quarter. 23.28% of the stock is currently 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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