GSI Technology (NASDAQ:GSIT) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded GSI Technology from “strong sell” to “sell,” while the broader analyst consensus remains “Hold” with an average price target of $9.00.
• GSI Technology shares opened at $4.81, near their 52-week low of $4.51 and well below the 52-week high of $18.15; the stock was down 2.4%.
• The company reported a quarterly loss of $0.13 per share, beating estimates for a $0.19 loss, but revenue of $6.31 million missed the $7.30 million consensus estimate. Institutional investors and hedge funds own 33.15% of the stock.

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

A number of other brokerages have also recently issued reports on GSIT. Williams Trading set a $9.00 price objective on shares of GSI Technology in a report on Monday, September 14th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of GSI Technology in a research report on Friday, July 17th. Finally, Needham & Company LLC started coverage on GSI Technology in a research note on Monday, September 14th. They set a "buy" rating and a $9.00 price target for the company. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $9.00.

GSI Technology Trading Down 2.4%

Shares of NASDAQ:GSIT opened at $4.81 on Friday. GSI Technology has a 1 year low of $4.51 and a 1 year high of $18.15. The business has a fifty day simple moving average of $5.75 and a 200 day simple moving average of $6.77. The firm has a market cap of $184.85 million, a price-to-earnings ratio of -10.46 and a beta of 2.11.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in GSI Technology in the 2nd quarter worth $77,000. Allworth Financial LP acquired a new stake in shares of GSI Technology during the 2nd quarter worth approximately $86,000. Silverberg Bernstein Capital Management LLC boosted its stake in GSI Technology by 1.4% during the first quarter. Silverberg Bernstein Capital Management LLC now owns 785,706 shares of the semiconductor company's stock worth $4,039,000 after buying an additional 11,200 shares in the last quarter. Algert Global LLC bought a new stake in GSI Technology in the 2nd quarter valued at $153,000. Finally, HB Wealth Management LLC bought a new stake in GSI Technology in the 2nd quarter valued at $155,000. 33.15% of the stock is currently owned by institutional investors and hedge funds.

GSI Technology Company Profile

GSI Technology, Inc is a semiconductor company that develops and markets high-performance memory and computing solutions. Its products are designed for applications that require fast data access, reliable operation and high bandwidth, including communications infrastructure, networking equipment, industrial systems, aerospace and defense applications.

The company's product portfolio has historically centered on static random-access memory (SRAM), including synchronous and high-speed memory devices sold under product families such as SigmaQuad and SigmaDDR.

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