GSI Technology (NASDAQ:GSIT) Stock Crosses Above 200 Day Moving Average of $2.94

Shares of GSI Technology, Inc. (NASDAQ:GSIT) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.94 and traded as high as $4.03. GSI Technology shares last traded at $3.69, with a volume of 198,875 shares.

GSI Technology Stock Performance

The stock has a 50-day moving average of $3.85 and a 200-day moving average of $2.94. The firm has a market cap of $93.36 million, a price-to-earnings ratio of -4.67 and a beta of 0.99.

Hedge Funds Weigh In On GSI Technology

Hedge funds and other institutional investors have recently made changes to their positions in the company. Silverberg Bernstein Capital Management LLC increased 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 acquiring an additional 9,600 shares during the period. Eudaimonia Partners LLC bought a new stake in shares of GSI Technology in the 3rd quarter valued at $40,000. Finally, Thompson Davis & CO. Inc. acquired a new position in GSI Technology during the first quarter worth $42,000. 33.15% of the stock is owned by institutional investors.

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.