GSI Technology (NASDAQ:GSIT) Stock Price Crosses Above 200-Day Moving Average of $2.81

Shares of GSI Technology, Inc. (NASDAQ:GSIT) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.81 and traded as high as $4.00. GSI Technology shares last traded at $3.89, with a volume of 557,143 shares trading hands.

GSI Technology Price Performance

The company has a market cap of $98.42 million, a price-to-earnings ratio of -4.92 and a beta of 1.04. The firm’s fifty day moving average price is $3.47 and its 200-day moving average price is $2.81.

GSI Technology (NASDAQ:GSIT) last announced its quarterly earnings results on Thursday, January 25th. The semiconductor company reported ($0.26) earnings per share (EPS) for the quarter. GSI Technology had a negative net margin of 89.70% and a negative return on equity of 42.68%. The firm had revenue of $5.32 million for the quarter.

Hedge Funds Weigh In On GSI Technology

Several hedge funds and other institutional investors have recently modified their holdings of the company. Osaic Holdings Inc. acquired a new stake in GSI Technology in the second quarter worth about $26,000. Invesco Ltd. acquired a new stake in GSI Technology in the third quarter worth about $29,000. JPMorgan Chase & Co. lifted its holdings in GSI Technology by 167.5% in the first quarter. JPMorgan Chase & Co. now owns 8,623 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 5,400 shares during the period. Eudaimonia Partners LLC acquired a new stake in GSI Technology in the third quarter worth about $40,000. Finally, Bank of America Corp DE lifted its holdings in GSI Technology by 75,282.1% in the first quarter. Bank of America Corp DE now owns 29,399 shares of the semiconductor company’s stock worth $51,000 after purchasing an additional 29,360 shares during the period. Institutional investors and hedge funds own 33.15% of the company’s stock.

About GSI Technology

GSI Technology, Inc 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 associative processing unit products, which are focuses on applications using similarity search in visual search queries for ecommerce, computer vision, drug discovery, cyber security, and service markets.