BlackRock Inc. acquired a new stake in GSI Technology, Inc. (NASDAQ:GSIT - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,399,846 shares of the semiconductor company's stock, valued at approximately $18,551,000. BlackRock Inc. owned 6.25% of GSI Technology as of its most recent SEC filing.
Several other large investors have also bought and sold shares of GSIT. Jones Financial Companies Lllp acquired a new position in shares of GSI Technology in the 1st quarter worth approximately $80,000. Arrowstreet Capital Limited Partnership acquired a new position in GSI Technology in the second quarter valued at $535,000. Marshall Wace LLP bought a new stake in GSI Technology during the second quarter valued at $642,000. Jane Street Group LLC bought a new stake in GSI Technology during the second quarter valued at $342,000. Finally, Bank of America Corp DE grew its holdings in GSI Technology by 8,247.6% during the 2nd quarter. Bank of America Corp DE now owns 13,690 shares of the semiconductor company's stock worth $46,000 after acquiring an additional 13,526 shares during the period. 33.15% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several research analysts have recently weighed in on GSIT shares. Weiss Ratings reissued a "sell (d-)" rating on shares of GSI Technology in a research report on Friday, July 17th. Wall Street Zen cut GSI Technology from a "hold" rating to a "sell" rating in a research note on Saturday, June 13th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, GSI Technology has a consensus rating of "Sell".
Read Our Latest Analysis on GSIT
GSI Technology Price Performance
Shares of GSIT opened at $5.33 on Friday. GSI Technology, Inc. has a one year low of $2.82 and a one year high of $18.15. The company has a market cap of $204.83 million, a PE ratio of -11.59 and a beta of 2.10. The stock has a 50-day moving average of $6.21 and a 200-day moving average of $7.17.
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, topping the consensus estimate of ($0.19) by $0.06. GSI Technology had a negative return on equity of 21.39% and a negative net margin of 62.90%.The business had revenue of $6.31 million for the quarter, compared to analyst estimates of $7.30 million.
GSI Technology Profile
(
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.
Further Reading
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