GSI Technology (NASDAQ:GSIT) Now Covered by StockNews.com

Equities research analysts at StockNews.com assumed coverage on shares of GSI Technology (NASDAQ:GSIT – Get Rating) in a note issued to investors on Tuesday. The brokerage set a “hold” rating on the semiconductor company’s stock.

GSI Technology Stock Down 6.1 %

NASDAQ:GSIT opened at $2.10 on Tuesday. The company has a fifty day simple moving average of $1.97 and a two-hundred day simple moving average of $2.67. The company has a market cap of $51.44 million, a price-to-earnings ratio of -3.17 and a beta of 0.84. GSI Technology has a 52 week low of $1.57 and a 52 week high of $4.64.

GSI Technology (NASDAQ:GSIT – Get Rating) last released its quarterly earnings data on Thursday, October 27th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter. GSI Technology had a negative return on equity of 25.69% and a negative net margin of 46.55%. The firm had revenue of $8.95 million for the quarter.

Institutional Trading of GSI Technology

Institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp raised its stake in GSI Technology by 7.9% during the first quarter. State Street Corp now owns 45,982 shares of the semiconductor company’s stock worth $176,000 after purchasing an additional 3,383 shares during the period. Charles Schwab Investment Management Inc. purchased a new position in shares of GSI Technology in the 1st quarter valued at $67,000. JPMorgan Chase & Co. increased its stake in GSI Technology by 167.5% during the 1st quarter. JPMorgan Chase & Co. now owns 8,623 shares of the semiconductor company’s stock worth $33,000 after buying an additional 5,400 shares during the period. Finally, Cowen Prime Advisors LLC increased its stake in GSI Technology by 1.5% during the 2nd quarter. Cowen Prime Advisors LLC now owns 187,593 shares of the semiconductor company’s stock worth $647,000 after buying an additional 2,855 shares during the period. Hedge funds and other institutional investors own 21.86% of the company’s stock.

GSI Technology Company Profile

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GSI Technology, Inc engages in the design, development and marketing of memory products primarily for the networking, and telecommunications markets. Its product includes Static Random Access Memory, or SRAM, which incorporated in networking and telecommunications equipment, such as routers, switches, wide area network infrastructure equipment, wireless base stations and network access equipment.