GSI Technology (NASDAQ:GSIT) VP Sells $346,400.00 in Stock

Key Points

• GSI Technology VP Bor-Tay Wu sold 40,000 shares on March 10 at an average price of $8.66 for $346,400, leaving him with 912,500 shares (a 4.20% reduction in his position).
• Financial and market backdrop: GSIT traded near $8.60 (down ~1%) with a $311.2M market cap, reported quarterly EPS of -$0.09 on $6.08M revenue with negative margins/ROE, and holds a consensus "Sell" rating from analysts.

GSI Technology, Inc. (NASDAQ:GSIT - Get Free Report) VP Bor-Tay Wu sold 40,000 shares of the company's stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $8.66, for a total value of $346,400.00. Following the completion of the sale, the vice president directly owned 912,500 shares of the company's stock, valued at $7,902,250. The trade was a 4.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

GSI Technology Trading Down 1.0%

NASDAQ:GSIT traded down $0.09 during trading hours on Tuesday, hitting $8.60. The stock had a trading volume of 559,423 shares, compared to its average volume of 634,289. The company has a market cap of $311.23 million, a PE ratio of -23.24 and a beta of 1.44. The business has a 50 day simple moving average of $7.37 and a two-hundred day simple moving average of $6.49. GSI Technology, Inc. has a 1-year low of $1.62 and a 1-year high of $18.15.

GSI Technology (NASDAQ:GSIT - Get Free Report) last released its quarterly earnings results on Thursday, January 29th. The semiconductor company reported ($0.09) earnings per share for the quarter. The firm had revenue of $6.08 million for the quarter. GSI Technology had a negative net margin of 43.15% and a negative return on equity of 22.69%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in GSI Technology in the 2nd quarter valued at approximately $165,000. XTX Topco Ltd bought a new stake in shares of GSI Technology during the 2nd quarter worth about $246,000. Quadrature Capital Ltd acquired a new position in shares of GSI Technology during the second quarter valued at approximately $90,000. Dynamic Technology Lab Private Ltd bought a new position in GSI Technology during the 3rd quarter valued at $69,000. Finally, NewEdge Advisors LLC acquired a new stake in shares of GSI Technology in the third quarter valued at $68,000. Institutional investors own 33.15% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of GSI Technology in a report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, GSI Technology has a consensus rating of "Sell".

About GSI Technology

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.

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