GSI Technology, Inc. (NASDAQ:GSIT) Short Interest Up 45.0% in January

GSI Technology, Inc. (NASDAQ:GSIT) was the target of a large increase in short interest in the month of January. As of January 15th, there was short interest totaling 2,853,112 shares, an increase of 45.0% from the December 31st total of 1,967,706 shares. Approximately 10.9% of the shares of the company are short sold. Based on an average daily trading volume, of 1,897,698 shares, the short-interest ratio is presently 1.5 days. Based on an average daily trading volume, of 1,897,698 shares, the short-interest ratio is presently 1.5 days. Approximately 10.9% of the shares of the company are short sold.

GSI Technology Trading Up 0.1%

GSIT stock opened at $7.23 on Tuesday. GSI Technology has a 1-year low of $1.62 and a 1-year high of $18.15. The business’s 50 day moving average is $6.90 and its 200-day moving average is $5.89. The firm has a market cap of $254.80 million, a P/E ratio of -19.54 and a beta of 1.46.

GSI Technology (NASDAQ:GSIT) last issued 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 30.68%.

Insider Buying and Selling at GSI Technology

In related news, VP Avidan Akerib sold 54,732 shares of the firm’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $8.54, for a total value of $467,411.28. Following the transaction, the vice president directly owned 23,307 shares in the company, valued at approximately $199,041.78. This trade represents a 70.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Patrick T. Chuang sold 40,000 shares of the business’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $8.66, for a total transaction of $346,400.00. Following the transaction, the vice president directly owned 15,166 shares of the company’s stock, valued at approximately $131,337.56. This represents a 72.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 25.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On GSI Technology

A number of large investors have recently bought and sold shares of the business. Osaic Holdings Inc. raised its position in GSI Technology by 52.1% in the 2nd quarter. Osaic Holdings Inc. now owns 12,012 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 4,112 shares during the last quarter. R Squared Ltd bought a new position in shares of GSI Technology in the third quarter valued at about $38,000. Bank of America Corp DE raised its holdings in shares of GSI Technology by 8,247.6% in the second quarter. Bank of America Corp DE now owns 13,690 shares of the semiconductor company’s stock valued at $46,000 after buying an additional 13,526 shares during the last quarter. Prelude Capital Management LLC acquired a new position in GSI Technology during the 3rd quarter worth about $52,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in GSI Technology during the 2nd quarter worth about $55,000. 33.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

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.