GSI Technology, Inc. (NASDAQ:GSIT) Short Interest Update

GSI Technology, Inc. (NASDAQ:GSIT) was the recipient of a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 750,200 shares, an increase of 7.7% from the August 31st total of 696,300 shares. Based on an average daily volume of 118,700 shares, the days-to-cover ratio is currently 6.3 days. Currently, 4.0% of the shares of the company are short sold.

GSI Technology Stock Performance

NASDAQ GSIT traded up $0.02 during trading hours on Tuesday, reaching $3.07. The company’s stock had a trading volume of 45,613 shares, compared to its average volume of 300,917. GSI Technology has a fifty-two week low of $1.88 and a fifty-two week high of $6.02. The stock has a market cap of $78.12 million, a PE ratio of -3.81 and a beta of 0.94. The company’s 50-day moving average is $2.70 and its two-hundred day moving average is $3.03.

GSI Technology (NASDAQ:GSIT) last released its quarterly earnings results on Thursday, July 25th. The semiconductor company reported ($0.14) earnings per share (EPS) for the quarter. The firm had revenue of $4.67 million for the quarter. GSI Technology had a negative return on equity of 46.39% and a negative net margin of 66.67%.

Analysts Set New Price Targets

Separately, StockNews.com raised GSI Technology from a “sell” rating to a “hold” rating in a report on Monday, August 5th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Thompson Davis & CO. Inc. purchased a new stake in shares of GSI Technology during the 1st quarter valued at $42,000. American Century Companies Inc. grew its position in 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 acquiring an additional 5,890 shares during the period. Viawealth LLC increased its stake in GSI Technology by 82.4% during the first quarter. Viawealth LLC now owns 23,350 shares of the semiconductor company’s stock worth $79,000 after acquiring an additional 10,550 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of GSI Technology in the 1st quarter worth about $135,000. Finally, Silverberg Bernstein Capital Management LLC lifted its stake 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 valued at $1,235,000 after purchasing an additional 12,843 shares in the last quarter. 33.15% of the stock is currently 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.