GSI Technology (NASDAQ:GSIT) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of GSI Technology, Inc. (NASDAQ:GSIT) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $5.72 and traded as high as $9.20. GSI Technology shares last traded at $8.03, with a volume of 2,876,987 shares.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of GSI Technology in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

GSI Technology Stock Down 8.0%

The firm has a market capitalization of $282.98 million, a price-to-earnings ratio of -18.25 and a beta of 1.46. The company’s fifty day moving average is $6.80 and its two-hundred day moving average is $5.72.

GSI Technology (NASDAQ:GSIT) last released its earnings results on Thursday, October 30th. The semiconductor company reported ($0.11) EPS for the quarter. The business had revenue of $6.44 million for the quarter. GSI Technology had a negative return on equity of 34.79% and a negative net margin of 48.54%.

Insider Activity

In other GSI Technology news, VP Avidan Akerib sold 135,286 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $9.05, for a total transaction of $1,224,338.30. Following the transaction, the vice president owned 23,307 shares in the company, valued at approximately $210,928.35. This trade represents a 85.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Patrick T. Chuang sold 40,000 shares of the business’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $8.66, for a total value of $346,400.00. Following the transaction, the vice president owned 15,166 shares of the company’s stock, valued at $131,337.56. The trade was a 72.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 230,018 shares of company stock worth $2,038,150 in the last three months. Insiders own 25.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Jones Financial Companies Lllp acquired a new stake in GSI Technology in the first quarter worth $80,000. U.S. Capital Wealth Advisors LLC bought a new stake in shares of GSI Technology in the 2nd quarter valued at $55,000. Vanguard Personalized Indexing Management LLC acquired a new stake in GSI Technology during the 2nd quarter worth $55,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in GSI Technology during the 2nd quarter worth $165,000. Finally, XTX Topco Ltd bought a new position in GSI Technology during the second quarter worth about $246,000. Institutional investors and hedge funds own 33.15% of the company’s stock.

GSI Technology Company Profile

GSI Technology, Inc is a fabless semiconductor company specializing in the design and development of high-performance memory products. Headquartered in Sunnyvale, California, the company was founded in 1995 and has focused its efforts on content addressable memory (CAM) and high-speed SRAM (static random-access memory) solutions. As a publicly traded company listed on NASDAQ under the ticker GSIT, GSI Technology leverages advanced architectures to meet demanding data-processing requirements.

The company’s core product portfolio includes ternary CAM (TCAM) devices, binary CAM (BCAM) devices and high-speed synchronous SRAM.