GSI Technology, Inc. (NASDAQ:GSIT) released its quarterly earnings results on Thursday. The semiconductor company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.07), Briefing.com reports. The business had revenue of $9.65 million during the quarter, compared to analyst estimates of $10.50 million. GSI Technology had a negative net margin of 4.11% and a negative return on equity of 2.19%. The firm’s revenue for the quarter was down 27.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.03 earnings per share.
Shares of GSI Technology (GSIT) traded down 1.58% during mid-day trading on Friday, reaching $6.85. 86,151 shares of the company were exchanged. The company’s 50 day moving average price is $7.09 and its 200 day moving average price is $7.50. GSI Technology has a 12 month low of $4.71 and a 12 month high of $9.68. The firm’s market capitalization is $143.92 million.
A hedge fund recently bought a new stake in GSI Technology stock. California State Teachers Retirement System bought a new position in GSI Technology, Inc. (NASDAQ:GSIT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 25,300 shares of the semiconductor company’s stock, valued at approximately $199,000. California State Teachers Retirement System owned approximately 0.12% of GSI Technology at the end of the most recent reporting period. Institutional investors own 31.42% of the company’s stock.
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Separately, Needham & Company LLC restated a “hold” rating on shares of GSI Technology in a research report on Thursday.
About GSI Technology
GSI Technology, Inc is a provider of Very Fast static random access memory (SRAM) products and low latency dynamic random access memory (LLDRAM) products. The Company operates through the design, development and sale of integrated circuits segment. Its products are incorporated primarily in high-performance networking and telecommunications equipment, such as routers, switches, area network infrastructure equipment, wireless base stations and network access equipment.
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