ValuEngine lowered shares of GSI Technology (NASDAQ:GSIT) from a hold rating to a sell rating in a research note published on Tuesday morning.
A number of other equities research analysts also recently issued reports on GSIT. Needham & Company LLC reiterated a hold rating on shares of GSI Technology in a research note on Friday, January 26th. TheStreet downgraded shares of GSI Technology from a c rating to a d+ rating in a research note on Wednesday, February 7th.
Shares of GSI Technology opened at $7.42 on Tuesday, MarketBeat Ratings reports. GSI Technology has a 12-month low of $6.05 and a 12-month high of $8.94.
In other news, VP Robert Yau sold 7,474 shares of the stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $8.01, for a total value of $59,866.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Bor-Tay Wu sold 14,590 shares of the stock in a transaction dated Thursday, May 3rd. The stock was sold at an average price of $7.48, for a total transaction of $109,133.20. Following the completion of the transaction, the vice president now directly owns 918,535 shares of the company’s stock, valued at approximately $6,870,641.80. The disclosure for this sale can be found here. Insiders sold 24,459 shares of company stock valued at $188,160 in the last three months. Company insiders own 34.20% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN lifted its holdings in shares of GSI Technology by 123.3% in the fourth quarter. Wells Fargo & Company MN now owns 20,546 shares of the semiconductor company’s stock worth $163,000 after acquiring an additional 11,343 shares during the last quarter. Chicago Equity Partners LLC bought a new position in shares of GSI Technology in the fourth quarter worth about $168,000. Cowen Prime Services LLC lifted its holdings in shares of GSI Technology by 203.1% in the fourth quarter. Cowen Prime Services LLC now owns 31,084 shares of the semiconductor company’s stock worth $247,000 after acquiring an additional 20,827 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of GSI Technology by 144.0% in the fourth quarter. Deutsche Bank AG now owns 33,524 shares of the semiconductor company’s stock worth $265,000 after acquiring an additional 19,787 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of GSI Technology by 1.5% in the fourth quarter. BlackRock Inc. now owns 678,224 shares of the semiconductor company’s stock worth $5,398,000 after acquiring an additional 9,768 shares during the last quarter. 31.10% of the stock is owned by hedge funds and other institutional investors.
About GSI Technology
GSI Technology, Inc, a fabless semiconductor company, designs, develops, and markets memory products primarily for the networking and telecommunications markets in the United States, China, Singapore, and internationally. It offers synchronous static random access memory (SRAM) products, such as BurstRAMs for microprocessor cache applications; No Bus Turnaround SRAMs to address the needs of moderate performance networking applications; SigmaQuad and SigmaDDR products that are double data rate and quad data rate synchronous SRAMs; and radiation-hardened SRAMs for aerospace and military applications, such as networking satellites.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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