GSI Technology, Inc. (NASDAQ:GSIT) VP Sells $38,900.00 in Stock

Key Points

• VP Avidan Akerib of GSI Technology, Inc. (NASDAQ:GSIT) sold 10,000 shares of the company for $38,900, resulting in a 30.02% decrease in his holdings.
• The company reported a quarterly earnings loss of ($0.08) per share, with revenue at $6.28 million.
• Several hedge funds have increased their stakes in GSI Technology, with institutional investors now owning 33.15% of the stock.

GSI Technology, Inc. (NASDAQ:GSIT - Get Free Report) VP Avidan Akerib sold 10,000 shares of GSI Technology stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $3.89, for a total value of $38,900.00. Following the completion of the transaction, the vice president owned 23,307 shares in the company, valued at approximately $90,664.23. This represents a 30.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

GSI Technology Price Performance

NASDAQ:GSIT traded down $0.19 during mid-day trading on Thursday, reaching $3.31. 254,316 shares of the company's stock traded hands, compared to its average volume of 889,771. GSI Technology, Inc. has a 12-month low of $1.62 and a 12-month high of $5.89. The firm has a market capitalization of $96.29 million, a price-to-earnings ratio of -6.13 and a beta of 1.23. The company has a 50 day moving average price of $3.89 and a 200-day moving average price of $3.24.

GSI Technology (NASDAQ:GSIT - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The semiconductor company reported ($0.08) earnings per share for the quarter. The company had revenue of $6.28 million during the quarter. GSI Technology had a negative return on equity of 45.71% and a negative net margin of 62.96%.

Hedge Funds Weigh In On GSI Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GSIT. Silverberg Bernstein Capital Management LLC lifted its holdings in shares of GSI Technology by 31.1% during the 2nd quarter. Silverberg Bernstein Capital Management LLC now owns 688,464 shares of the semiconductor company's stock valued at $2,313,000 after buying an additional 163,511 shares during the period. Geode Capital Management LLC raised its holdings in GSI Technology by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 208,723 shares of the semiconductor company's stock worth $633,000 after purchasing an additional 3,607 shares during the period. Two Sigma Investments LP raised its holdings in GSI Technology by 19.0% in the 4th quarter. Two Sigma Investments LP now owns 69,960 shares of the semiconductor company's stock worth $212,000 after purchasing an additional 11,149 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in GSI Technology in the 2nd quarter worth $165,000. Finally, Northern Trust Corp raised its holdings in GSI Technology by 30.7% in the 4th quarter. Northern Trust Corp now owns 40,733 shares of the semiconductor company's stock worth $123,000 after purchasing an additional 9,557 shares during the period. 33.15% of the stock is owned by institutional investors.

GSI Technology Company Profile

GSI Technology, Inc designs, develops, and markets semiconductor memory solutions to networking, industrial, medical, aerospace, and military customers in the United States, China, Singapore, Germany, the Netherlands, and internationally. It offers associative processing unit products, which are focuses on applications using similarity search in visual search queries for ecommerce, computer vision, drug discovery, cyber security, and service markets.

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