GSI Technology (NASDAQ:GSIT) Cut to Sell at StockNews.com

GSI Technology (NASDAQ:GSIT) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Monday.

GSI Technology Trading Up 8.8 %

NASDAQ GSIT traded up $0.30 on Monday, reaching $3.69. 237,713 shares of the stock were exchanged, compared to its average volume of 293,917. The company’s 50-day simple moving average is $3.10 and its two-hundred day simple moving average is $2.97. The firm has a market capitalization of $93.91 million, a PE ratio of -6.71 and a beta of 0.95. GSI Technology has a one year low of $1.88 and a one year high of $6.02.

GSI Technology (NASDAQ:GSIT) last posted its earnings results on Thursday, October 24th. The semiconductor company reported ($0.21) earnings per share for the quarter. GSI Technology had a negative net margin of 66.67% and a negative return on equity of 46.39%. The company had revenue of $4.55 million for the quarter.

Institutional Investors Weigh In On GSI Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new stake in shares of GSI Technology during the first quarter valued at approximately $135,000. Silverberg Bernstein Capital Management LLC lifted its holdings in shares of GSI Technology by 2.8% in the 2nd quarter. Silverberg Bernstein Capital Management LLC now owns 465,974 shares of the semiconductor company’s stock worth $1,235,000 after buying an additional 12,843 shares during the period. Thompson Davis & CO. Inc. purchased a new stake in GSI Technology in the first quarter worth about $42,000. Viawealth LLC grew its holdings in GSI Technology by 82.4% during the 1st quarter. Viawealth LLC now owns 23,350 shares of the semiconductor company’s stock worth $79,000 after acquiring an additional 10,550 shares in the last quarter. Finally, American Century Companies Inc. increased its position in GSI Technology by 42.3% during the 2nd quarter. American Century Companies Inc. now owns 19,827 shares of the semiconductor company’s stock valued at $53,000 after purchasing an additional 5,890 shares during the period. Institutional investors own 33.15% of the company’s stock.

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.