GSI Technology (NASDAQ:GSIT) CFO Douglas Schirle Sells 40,000 Shares

by · The Cerbat Gem

GSI Technology, Inc. (NASDAQ:GSIT – Get Free Report) CFO Douglas Schirle sold 40,000 shares of GSI Technology stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $11.32, for a total value of $452,800.00. Following the sale, the chief financial officer owned 69,046 shares of the company’s stock, valued at approximately $781,600.72. This trade represents a 36.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

GSI Technology Trading Down 11.4%

Shares of GSIT opened at $10.86 on Friday. The firm has a fifty day moving average price of $7.22 and a 200-day moving average price of $7.26. The firm has a market capitalization of $393.02 million, a P/E ratio of -26.49 and a beta of 1.94. GSI Technology, Inc. has a 12-month low of $2.82 and a 12-month high of $18.15.

GSI Technology (NASDAQ:GSIT – Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The semiconductor company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.06. GSI Technology had a negative net margin of 52.73% and a negative return on equity of 24.91%. The company had revenue of $6.32 million for the quarter, compared to the consensus estimate of $7.30 million.

Hedge Funds Weigh In On GSI Technology

Several institutional investors have recently made changes to their positions in GSIT. CIBC Private Wealth Group LLC purchased a new stake in GSI Technology in the fourth quarter worth about $31,000. R Squared Ltd purchased a new position in GSI Technology during the 3rd quarter valued at about $38,000. Osaic Holdings Inc. increased its position in GSI Technology by 52.1% during 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 period. Virtu Financial LLC bought a new stake in shares of GSI Technology in the 4th quarter valued at about $76,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of GSI Technology in the 4th quarter worth approximately $81,000. Hedge funds and other institutional investors own 33.15% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GSI Technology in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, GSI Technology currently has a consensus rating of “Sell”.

Check Out Our Latest Stock Report on GSIT

GSI Technology Company Profile

(Get Free Report)

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.

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