GSI Technology (NASDAQ:GSIT) Stock Crosses Above 200-Day Moving Average of $2.85

GSI Technology, Inc. (NASDAQ:GSIT)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.85 and traded as high as $3.59. GSI Technology shares last traded at $3.42, with a volume of 240,152 shares trading hands.

GSI Technology Stock Down 3.9 %

The company has a market capitalization of $86.53 million, a price-to-earnings ratio of -4.33 and a beta of 1.04. The company has a 50-day moving average price of $3.65 and a 200-day moving average price of $2.85.

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

Institutional Investors Weigh In On GSI Technology

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in GSI Technology by 12.7% during the fourth quarter. Vanguard Group Inc. now owns 823,720 shares of the semiconductor company’s stock worth $2,175,000 after buying an additional 93,056 shares in the last quarter. Worth Venture Partners LLC acquired a new stake in GSI Technology during the second quarter worth about $2,762,000. Silverberg Bernstein Capital Management LLC grew its position in GSI Technology by 2.2% during the first quarter. Silverberg Bernstein Capital Management LLC now owns 453,131 shares of the semiconductor company’s stock worth $1,541,000 after buying an additional 9,600 shares in the last quarter. Geode Capital Management LLC grew its position in GSI Technology by 26.4% during the second quarter. Geode Capital Management LLC now owns 175,329 shares of the semiconductor company’s stock worth $970,000 after buying an additional 36,598 shares in the last quarter. Finally, BlackRock Inc. grew its position in GSI Technology by 8.8% during the second quarter. BlackRock Inc. now owns 98,743 shares of the semiconductor company’s stock worth $546,000 after buying an additional 7,961 shares in the last quarter. 33.15% of the stock is owned by institutional investors and hedge funds.

GSI Technology Company Profile

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.