GSI Technology (NASDAQ:GSIT) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded GSI Technology from “sell” to “strong sell.” Despite a $9.00 consensus price target, analyst opinions are split between buy and sell, resulting in an overall “hold” rating.
• GSI Technology shares opened at $5.61, with the stock trading well below its 52-week high of $18.15. The company has a $215.59 million market capitalization and a negative price-to-earnings ratio.
• In its latest quarter, GSI Technology reported an adjusted loss of $0.13 per share, beating estimates, but revenue of $6.31 million fell short of expectations. The company continued to post a negative net margin of 62.90%.

GSI Technology (NASDAQ:GSIT - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a research report issued on Saturday, Wall Street Zen reports.

GSIT has been the topic of several other research reports. Williams Trading set a $9.00 price objective on shares of GSI Technology in a research report on Monday, September 14th. Needham & Company LLC began coverage on shares of GSI Technology in a report on Monday, September 14th. They issued a "buy" rating and a $9.00 price target on the stock. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of GSI Technology in a report on Friday, July 17th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $9.00.

GSI Technology Stock Up 1.8%

Shares of GSIT opened at $5.61 on Friday. The business has a 50-day simple moving average of $5.83 and a two-hundred day simple moving average of $6.94. The stock has a market cap of $215.59 million, a price-to-earnings ratio of -12.20 and a beta of 2.10. GSI Technology has a 52 week low of $3.57 and a 52 week high of $18.15.

GSI Technology (NASDAQ:GSIT - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The semiconductor company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.06. The business had revenue of $6.31 million for the quarter, compared to the consensus estimate of $7.30 million. GSI Technology had a negative net margin of 62.90% and a negative return on equity of 21.39%.

Institutional Trading of GSI Technology

Large investors have recently made changes to their positions in the business. HB Wealth Management LLC bought a new position in shares of GSI Technology in the 2nd quarter valued at about $155,000. Bank of America Corp DE bought a new stake in shares of GSI Technology in the 2nd quarter valued at approximately $448,000. Canada Pension Plan Investment Board purchased a new position in shares of GSI Technology in the 2nd quarter worth approximately $257,000. Algert Global LLC purchased a new position in shares of GSI Technology in the 2nd quarter worth approximately $153,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of GSI Technology during the 2nd quarter valued at approximately $2,385,000. 33.15% of the stock is currently owned by institutional investors.

GSI Technology Company Profile

GSI Technology, Inc is a fabless semiconductor company that develops high-performance memory and computing solutions. The company is best known for its static random-access memory (SRAM) products, including synchronous SRAM devices designed for applications requiring fast data access, high bandwidth and reliable operation.

In addition to its memory products, GSI Technology develops associative processing technology for data-intensive workloads. Its Gemini associative processing units are designed to perform similarity searches and other computational tasks in parallel, supporting applications such as artificial intelligence, machine learning, cybersecurity, image and video analysis, and database acceleration.

Founded in 1995 and headquartered in Sunnyvale, California, GSI Technology serves customers in communications, networking, industrial, defense, aerospace and other technology markets.

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