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

GSI Technology, Inc. (NASDAQ:GSIT)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.01 and traded as high as $6.68. GSI Technology shares last traded at $6.57, with a volume of 613,030 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of GSI Technology in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, GSI Technology presently has a consensus rating of “Sell”.

GSI Technology Price Performance

The stock has a market capitalization of $237.77 million, a price-to-earnings ratio of -17.76 and a beta of 1.45. The business’s 50-day simple moving average is $6.87 and its two-hundred day simple moving average is $6.01.

GSI Technology (NASDAQ:GSIT) last released its quarterly earnings data on Thursday, January 29th. The semiconductor company reported ($0.09) earnings per share (EPS) for the quarter. GSI Technology had a negative return on equity of 22.69% and a negative net margin of 43.15%.The business had revenue of $6.08 million during the quarter.

Hedge Funds Weigh In On GSI Technology

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Marshall Wace LLP boosted its stake in shares of GSI Technology by 112.7% in the fourth quarter. Marshall Wace LLP now owns 727,077 shares of the semiconductor company’s stock valued at $4,515,000 after purchasing an additional 385,185 shares during the period. UBS Group AG grew its stake in GSI Technology by 9,603.2% in the third quarter. UBS Group AG now owns 167,672 shares of the semiconductor company’s stock worth $617,000 after purchasing an additional 165,944 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of GSI Technology by 270.3% in the 4th quarter. Jane Street Group LLC now owns 221,094 shares of the semiconductor company’s stock valued at $1,373,000 after acquiring an additional 161,380 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in GSI Technology in the second quarter worth $535,000. Finally, Squarepoint Ops LLC grew its position in shares of GSI Technology by 725.2% during the 3rd quarter. Squarepoint Ops LLC now owns 175,385 shares of the semiconductor company’s stock valued at $645,000 after buying an additional 154,132 shares during the last quarter. 33.15% of the stock is owned by institutional investors and hedge funds.

About GSI Technology

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.