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

StockNews.com lowered shares of GSI Technology (NASDAQ:GSIT) from a hold rating to a sell rating in a report issued on Monday morning.

GSI Technology Stock Down 0.9 %

GSIT opened at $3.18 on Monday. The business has a fifty day moving average of $3.14 and a 200 day moving average of $2.96. The stock has a market cap of $80.92 million, a P/E ratio of -5.30 and a beta of 0.95. GSI Technology has a 52-week low of $1.88 and a 52-week high of $6.02.

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

Hedge Funds Weigh In On GSI Technology

A number of institutional investors have recently modified their holdings of GSIT. Thompson Davis & CO. Inc. bought a new position in GSI Technology in the first quarter worth approximately $42,000. American Century Companies Inc. lifted its holdings in shares of GSI Technology by 42.3% in the 2nd quarter. American Century Companies Inc. now owns 19,827 shares of the semiconductor company’s stock worth $53,000 after buying an additional 5,890 shares during the period. Viawealth LLC grew its position in shares of 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 buying an additional 10,550 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of GSI Technology during the first quarter valued at $135,000. Finally, Silverberg Bernstein Capital Management LLC raised its holdings in shares of GSI Technology by 2.8% in the second quarter. Silverberg Bernstein Capital Management LLC now owns 465,974 shares of the semiconductor company’s stock valued at $1,235,000 after acquiring an additional 12,843 shares in the last quarter. 33.15% of the stock is 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.