GSI Technology, Inc. (NASDAQ:GSIT) VP Avidan Akerib Sells 10,000 Shares

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 on Tuesday, August 5th. The stock was sold at an average price of $3.89, for a total transaction of $38,900.00. Following the sale, the vice president directly owned 23,307 shares of the company's stock, valued at approximately $90,664.23. This trade represents a 30.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

GSI Technology Stock Performance

NASDAQ GSIT traded down $0.04 during trading on Monday, reaching $3.27. The company's stock had a trading volume of 35,378 shares, compared to its average volume of 879,995. The firm has a market cap of $94.98 million, a price-to-earnings ratio of -6.09 and a beta of 1.23. GSI Technology, Inc. has a twelve month low of $1.62 and a twelve month high of $5.89. The business's fifty day moving average price is $3.89 and its 200-day moving average price is $3.23.

GSI Technology (NASDAQ:GSIT - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter. The firm had revenue of $6.28 million for 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 institutional investors and hedge funds have recently bought and sold shares of the stock. Silverberg Bernstein Capital Management LLC increased its position in shares of 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 acquiring an additional 163,511 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of GSI Technology by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 208,723 shares of the semiconductor company's stock valued at $633,000 after purchasing an additional 3,607 shares during the period. Two Sigma Investments LP boosted its stake in shares of GSI Technology by 19.0% in the fourth quarter. Two Sigma Investments LP now owns 69,960 shares of the semiconductor company's stock valued at $212,000 after purchasing an additional 11,149 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of GSI Technology in the second quarter valued at $165,000. Finally, Northern Trust Corp boosted its stake in shares of GSI Technology by 30.7% in the fourth quarter. Northern Trust Corp now owns 40,733 shares of the semiconductor company's stock valued at $123,000 after purchasing an additional 9,557 shares during the period. Institutional investors and hedge funds own 33.15% of the company's stock.

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.