GSI Technology (NASDAQ:GSIT) Stock Passes Above 200 Day Moving Average – What’s Next?

Shares of GSI Technology, Inc. (NASDAQ:GSIT) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $6.45 and traded as high as $8.69. GSI Technology shares last traded at $8.69, with a volume of 509,263 shares.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GSI Technology in a report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

GSI Technology Stock Performance

The stock has a market capitalization of $314.49 million, a P/E ratio of -23.49 and a beta of 1.44. The company’s fifty day simple moving average is $7.32 and its two-hundred day simple moving average is $6.45.

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

Insider Transactions at GSI Technology

In other GSI Technology news, VP Patrick T. Chuang sold 20,000 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $8.37, for a total value of $167,400.00. Following the transaction, the vice president directly owned 15,166 shares of the company’s stock, valued at $126,939.42. This represents a 56.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 25.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On GSI Technology

Hedge funds and other institutional investors have recently modified their holdings of the company. CIBC Private Wealth Group LLC bought a new stake in shares of GSI Technology in the fourth quarter valued at about $31,000. R Squared Ltd bought a new position in GSI Technology during the third quarter worth about $38,000. Osaic Holdings Inc. raised its stake in GSI Technology by 52.1% in the 2nd quarter. Osaic Holdings Inc. now owns 12,012 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 4,112 shares in the last quarter. Virtu Financial LLC bought a new stake in GSI Technology in the 4th quarter valued at about $76,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in GSI Technology in the 4th quarter valued at about $81,000. Institutional investors and hedge funds own 33.15% of the company’s stock.

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.