Insider Selling: GSI Technology, Inc. (NASDAQ:GSIT) Director Sells 15,263 Shares of Stock

GSI Technology, Inc. (NASDAQ:GSIT) Director Robert Yau sold 15,263 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $3.27, for a total value of $49,910.01. Following the transaction, the director now directly owns 939,939 shares in the company, valued at approximately $3,073,600.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Robert Yau also recently made the following trade(s):

• On Wednesday, August 23rd, Robert Yau sold 3,497 shares of GSI Technology stock. The stock was sold at an average price of $3.50, for a total value of $12,239.50.
• On Friday, August 11th, Robert Yau sold 4,000 shares of GSI Technology stock. The shares were sold at an average price of $3.25, for a total value of $13,000.00.

GSI Technology Stock Performance

GSIT traded up $0.09 during trading on Thursday, reaching $3.11. The company’s stock had a trading volume of 163,169 shares, compared to its average volume of 2,036,702. GSI Technology, Inc. has a 52-week low of $1.45 and a 52-week high of $9.80. The company’s fifty day moving average price is $4.71 and its 200-day moving average price is $3.72. The company has a market capitalization of $78.01 million, a price-to-earnings ratio of -4.56 and a beta of 0.79.

GSI Technology (NASDAQ:GSIT) last announced its quarterly earnings data on Thursday, July 27th. The semiconductor company reported ($0.21) earnings per share for the quarter. GSI Technology had a negative net margin of 64.90% and a negative return on equity of 32.07%. The business had revenue of $5.59 million during the quarter.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on GSI Technology in a report on Thursday, August 17th. They issued a “sell” rating on the stock.

Institutional Investors Weigh In On GSI Technology

Several institutional investors have recently modified their holdings of the company. Commonwealth Equity Services LLC boosted its stake in shares of GSI Technology by 4.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 66,984 shares of the semiconductor company’s stock worth $370,000 after acquiring an additional 3,050 shares in the last quarter. State Street Corp boosted its stake in shares of GSI Technology by 7.9% during the 1st quarter. State Street Corp now owns 45,982 shares of the semiconductor company’s stock worth $176,000 after acquiring an additional 3,383 shares in the last quarter. Osaic Holdings Inc. purchased a new stake in shares of GSI Technology during the 2nd quarter worth approximately $26,000. JPMorgan Chase & Co. boosted its stake in shares of 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 acquiring an additional 5,400 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in shares of GSI Technology by 8.8% during the 2nd quarter. BlackRock Inc. now owns 98,743 shares of the semiconductor company’s stock worth $546,000 after acquiring an additional 7,961 shares in the last quarter. Hedge funds and other institutional investors own 31.64% of the company’s stock.

GSI Technology Company Profile

GSI Technology, Inc, a fabless semiconductor company, designs, develops, and markets semiconductor memory solutions to networking, industrial, medical, aerospace, and military customers in the United States, China, Singapore, Germany, the Netherlands, and internationally. The company's associative processing unit products offers applications using similarity search in visual search queries for ecommerce, computer vision, drug discovery, cyber security, and service markets.