GSI Technology (GSIT) Lowered to “D+” at TheStreet

GSI Technology (NASDAQ:GSIT) was downgraded by analysts at TheStreet from a “c” rating to a “d+” rating in a report released on Wednesday.

Separately, Needham & Company LLC reaffirmed a “hold” rating on shares of GSI Technology in a research report on Thursday, October 26th.

Shares of GSI Technology (NASDAQ GSIT) traded up $0.08 during mid-day trading on Wednesday, reaching $7.31. 2,209 shares of the company’s stock were exchanged, compared to its average volume of 56,975. The firm has a market capitalization of $154.81, a PE ratio of -25.31 and a beta of 0.73. GSI Technology has a 1 year low of $5.60 and a 1 year high of $9.68.

GSI Technology (NASDAQ:GSIT) last announced its quarterly earnings results on Thursday, January 25th. The semiconductor company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). The business had revenue of $11.12 million for the quarter, compared to analyst estimates of $10.50 million. GSI Technology had a negative net margin of 14.65% and a negative return on equity of 7.12%. The company’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period last year, the firm earned $0.02 earnings per share.

In other GSI Technology news, VP Didier Lasserre sold 10,000 shares of GSI Technology stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $7.91, for a total transaction of $79,100.00. Following the transaction, the vice president now directly owns 252,979 shares of the company’s stock, valued at $2,001,063.89. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 34.20% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rhumbline Advisers acquired a new position in shares of GSI Technology during the second quarter worth $117,000. Wells Fargo & Company MN lifted its position in shares of GSI Technology by 123.3% during the fourth quarter. Wells Fargo & Company MN now owns 20,546 shares of the semiconductor company’s stock worth $163,000 after purchasing an additional 11,343 shares in the last quarter. Chicago Equity Partners LLC acquired a new position in shares of GSI Technology during the fourth quarter worth $168,000. Teachers Advisors LLC acquired a new position in shares of GSI Technology during the second quarter worth $194,000. Finally, California State Teachers Retirement System acquired a new position in shares of GSI Technology during the second quarter worth $199,000. 32.08% of the stock is currently owned by institutional investors and hedge funds.

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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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