GSI Technology, Inc. (NASDAQ:GSIT) Short Interest Down 36.2% in December

GSI Technology, Inc. (NASDAQ:GSIT) saw a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 369,000 shares, a drop of 36.2% from the December 15th total of 578,300 shares. Currently, 1.9% of the shares of the stock are sold short. Based on an average trading volume of 168,800 shares, the days-to-cover ratio is presently 2.2 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of GSI Technology from a “hold” rating to a “sell” rating in a research note on Monday, October 28th.

Institutional Trading of GSI Technology

A number of hedge funds have recently bought and sold shares of GSIT. 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 acquiring an additional 5,890 shares during the last quarter. Geode Capital Management LLC raised its position in GSI Technology by 19.0% in the 3rd quarter. Geode Capital Management LLC now owns 205,116 shares of the semiconductor company’s stock worth $626,000 after purchasing an additional 32,711 shares during the period. Finally, Silverberg Bernstein Capital Management LLC boosted its position in GSI Technology by 1.3% during the third quarter. Silverberg Bernstein Capital Management LLC now owns 471,986 shares of the semiconductor company’s stock valued at $1,440,000 after buying an additional 6,012 shares during the period. Institutional investors own 33.15% of the company’s stock.

GSI Technology Trading Up 45.5 %

Shares of GSIT traded up $1.25 during trading hours on Friday, reaching $4.00. 83,388,864 shares of the company’s stock traded hands, compared to its average volume of 7,709,022. GSI Technology has a 12 month low of $1.88 and a 12 month high of $6.02. The stock has a market cap of $101.96 million, a PE ratio of -6.73 and a beta of 0.98. The firm’s 50 day simple moving average is $2.96 and its 200-day simple moving average is $2.95.

GSI Technology (NASDAQ:GSIT) last posted its quarterly earnings data on Thursday, October 24th. The semiconductor company reported ($0.21) earnings per share for the quarter. GSI Technology had a negative net margin of 77.71% and a negative return on equity of 54.03%. The company had revenue of $4.55 million for the quarter.

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.