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

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

GSI Technology Price Performance

Shares of NASDAQ GSIT opened at $3.48 on Monday. GSI Technology has a 1 year low of $1.88 and a 1 year high of $6.02. The company has a 50 day simple moving average of $3.12 and a 200 day simple moving average of $2.96. The firm has a market cap of $88.57 million, a PE ratio of -6.33 and a beta of 0.95.

GSI Technology (NASDAQ:GSIT) last announced its quarterly earnings data on Thursday, October 24th. The semiconductor company reported ($0.21) EPS for the quarter. The company 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%.

Institutional Investors Weigh In On GSI Technology

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