GSI Technology (NASDAQ:GSIT) Shares Pass Above 200-Day Moving Average - Here's What Happened

Key Points

• GSI Technology's stock price has recently surpassed its 200-day moving average, trading as high as $3.60 and closing at $3.50 with a trading volume of 271,478 shares.
• The company reported a negative EPS of ($0.08) during its latest quarterly earnings, accompanied by a negative net margin of 62.96% and a revenue of $6.28 million.
• Institutional investors own 33.15% of GSI Technology's stock, with notable increases in holdings from several firms, including Silverberg Bernstein Capital Management and Two Sigma Investments.

GSI Technology, Inc. (NASDAQ:GSIT - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.24 and traded as high as $3.60. GSI Technology shares last traded at $3.50, with a volume of 271,478 shares.

GSI Technology Price Performance

The stock has a market cap of $92.80 million, a price-to-earnings ratio of -5.91 and a beta of 1.23. The stock has a fifty day moving average of $3.89 and a 200 day moving average of $3.23.

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

Insiders Place Their Bets

In related news, VP Avidan Akerib sold 10,000 shares of GSI Technology stock in a transaction that occurred 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 completion of the transaction, the vice president directly owned 23,307 shares in the company, valued at approximately $90,664.23. This trade represents a 30.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 25.40% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. purchased a new position in GSI Technology during the second quarter valued at approximately $165,000. Vanguard Personalized Indexing Management LLC purchased a new position in GSI Technology during the second quarter valued at approximately $55,000. U.S. Capital Wealth Advisors LLC purchased a new position in GSI Technology during the second quarter valued at approximately $55,000. 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 valued at $2,313,000 after buying an additional 163,511 shares in the last quarter. Finally, Jones Financial Companies Lllp purchased a new stake in shares of GSI Technology in the first quarter valued at approximately $80,000. 33.15% of the stock is currently owned by hedge funds and other institutional investors.

About GSI Technology

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.