Investors Buy Large Volume of GSI Technology Call Options (NASDAQ:GSIT)
by Doug Wharley · The Cerbat GemGSI Technology, Inc. (NASDAQ:GSIT – Get Free Report) was the target of unusually large options trading activity on Friday. Traders purchased 4,136 call options on the company. This represents an increase of approximately 64% compared to the typical volume of 2,523 call options.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GSI Technology in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.
Check Out Our Latest Research Report on GSI Technology
Insider Activity
In other GSI Technology news, VP Avidan Akerib sold 54,732 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $8.54, for a total value of $467,411.28. Following the transaction, the vice president directly owned 23,307 shares in the company, valued at $199,041.78. The trade was a 70.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Patrick T. Chuang sold 40,000 shares of GSI Technology stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $8.66, for a total transaction of $346,400.00. Following the completion of the sale, the vice president directly owned 15,166 shares in the company, valued at $131,337.56. This trade represents a 72.51% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 230,018 shares of company stock worth $2,038,150. Insiders own 25.40% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of GSI Technology in the 2nd quarter worth approximately $165,000. Silverberg Bernstein Capital Management LLC grew its stake in GSI Technology by 31.1% in the second quarter. Silverberg Bernstein Capital Management LLC now owns 688,464 shares of the semiconductor company’s stock worth $2,313,000 after purchasing an additional 163,511 shares during the period. XTX Topco Ltd bought a new position in GSI Technology in the second quarter worth $246,000. U.S. Capital Wealth Advisors LLC bought a new position in GSI Technology in the second quarter worth $55,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in GSI Technology during the second quarter valued at $55,000. 33.15% of the stock is owned by institutional investors.
GSI Technology Price Performance
GSIT stock traded up $1.68 during midday trading on Friday, reaching $7.74. The company had a trading volume of 4,608,198 shares, compared to its average volume of 1,867,290. The firm has a 50-day moving average price of $7.70 and a 200-day moving average price of $5.15. The company has a market capitalization of $272.72 million, a P/E ratio of -17.58 and a beta of 1.46. GSI Technology has a 1 year low of $1.62 and a 1 year high of $18.15.
GSI Technology (NASDAQ:GSIT – Get Free Report) last announced its earnings results on Thursday, October 30th. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter. The company had revenue of $6.44 million during the quarter. GSI Technology had a negative return on equity of 34.79% and a negative net margin of 48.54%.
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.
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