Geode Capital Management LLC Buys 32,711 Shares of GSI Technology, Inc. (NASDAQ:GSIT)

Geode Capital Management LLC lifted its holdings in shares of GSI Technology, Inc. (NASDAQ:GSIT) by 19.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 205,116 shares of the semiconductor company’s stock after purchasing an additional 32,711 shares during the quarter. Geode Capital Management LLC’s holdings in GSI Technology were worth $626,000 at the end of the most recent quarter.

Separately, American Century Companies Inc. boosted its stake in GSI Technology by 42.3% in the second 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 in the last quarter. Institutional investors and hedge funds own 33.15% of the company’s stock.

Wall Street Analysts Forecast Growth

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

GSI Technology Stock Down 3.3 %

Shares of GSI Technology stock opened at $2.96 on Friday. The company has a market cap of $75.44 million, a PE ratio of -4.93 and a beta of 0.98. The business has a 50 day moving average of $2.98 and a 200 day moving average of $2.95. GSI Technology, Inc. has a 52 week low of $1.88 and a 52 week high of $6.02.

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

GSI Technology 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.