GSI Technology (NASDAQ:GSIT) Stock Rating Upgraded by StockNews.com

GSI Technology (NASDAQ:GSIT) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.

GSI Technology Price Performance

GSIT traded down $0.19 during trading on Monday, reaching $2.37. 134,667 shares of the company’s stock were exchanged, compared to its average volume of 353,241. The stock has a market capitalization of $60.31 million, a P/E ratio of -2.96 and a beta of 0.94. GSI Technology has a 1 year low of $1.88 and a 1 year high of $6.02. The company’s fifty day simple moving average is $2.73 and its 200-day simple moving average is $3.08.

GSI Technology (NASDAQ:GSIT) last issued its quarterly earnings data on Thursday, May 2nd. The semiconductor company reported ($0.17) EPS for the quarter. The firm had revenue of $5.15 million for the quarter. GSI Technology had a negative return on equity of 45.73% and a negative net margin of 66.67%.

Insider Activity at GSI Technology

In other news, Director Barbara H. Nelson 27,005 shares of GSI Technology stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a document filed with the SEC, which is accessible through this link. 32.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Silverberg Bernstein Capital Management LLC raised its holdings in shares of GSI Technology by 2.8% during the 2nd quarter. Silverberg Bernstein Capital Management LLC now owns 465,974 shares of the semiconductor company’s stock worth $1,235,000 after acquiring an additional 12,843 shares during the period. Virtu Financial LLC purchased a new stake in GSI Technology in the 1st quarter valued at about $135,000. Viawealth LLC raised its holdings in GSI Technology by 82.4% in the 1st quarter. Viawealth LLC now owns 23,350 shares of the semiconductor company’s stock valued at $79,000 after buying an additional 10,550 shares during the period. Finally, Thompson Davis & CO. Inc. purchased a new stake in GSI Technology in the 1st quarter valued at about $42,000. Hedge funds and other institutional investors own 33.15% of the company’s stock.

GSI Technology Company 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.