GSI Technology (NASDAQ:GSIT) Shares Cross Above Two Hundred Day Moving Average of $2.02

Shares of GSI Technology, Inc. (NASDAQ:GSIT – Get Rating) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.02 and traded as high as $6.19. GSI Technology shares last traded at $5.71, with a volume of 1,857,557 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of GSI Technology in a research report on Wednesday. They issued a “hold” rating for the company.

GSI Technology Stock Down 2.2 %

The business has a fifty day moving average of $2.25 and a 200 day moving average of $2.02. The firm has a market cap of $140.92 million, a P/E ratio of -8.78 and a beta of 0.94.

Institutional Investors Weigh In On GSI Technology

Large investors have recently added to or reduced their stakes in the business. Cowen Prime Advisors LLC raised its stake in GSI Technology by 5.0% in the 1st quarter. Cowen Prime Advisors LLC now owns 429,670 shares of the semiconductor company’s stock worth $662,000 after purchasing an additional 20,618 shares in the last quarter. State Street Corp increased its holdings in shares of 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. Bank of America Corp DE raised its position in shares of GSI Technology by 75,282.1% in the first quarter. Bank of America Corp DE now owns 29,399 shares of the semiconductor company’s stock valued at $51,000 after buying an additional 29,360 shares in the last quarter. Charles Schwab Investment Management Inc. bought a new stake in shares of GSI Technology in the first quarter valued at approximately $67,000. Finally, JPMorgan Chase & Co. grew its position in GSI Technology by 167.5% during the first 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 in the last quarter. 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.