GSI Technology (NASDAQ:GSIT) Stock Passes Above 200-Day Moving Average – Here’s Why

GSI Technology, Inc. (NASDAQ:GSIT) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.14 and traded as high as $7.84. GSI Technology shares last traded at $7.77, with a volume of 1,138,586 shares traded.

Analyst Ratings Changes

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

GSI Technology Trading Up 14.8%

The stock has a market capitalization of $281.20 million, a P/E ratio of -21.00 and a beta of 1.45. The company has a 50-day moving average price of $7.01 and a 200 day moving average price of $6.14.

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

Institutional Investors Weigh In On GSI Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. CIBC Private Wealth Group LLC acquired a new stake in GSI Technology in the fourth quarter valued at approximately $31,000. R Squared Ltd purchased a new stake in shares of GSI Technology during the 3rd quarter valued at $38,000. Osaic Holdings Inc. boosted its position in shares of 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. Bank of America Corp DE boosted its position in shares of GSI Technology by 8,247.6% in the 2nd quarter. Bank of America Corp DE now owns 13,690 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 13,526 shares in the last quarter. Finally, Prelude Capital Management LLC purchased a new position in GSI Technology during the 3rd quarter worth $52,000. Hedge funds and other institutional investors 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.