Renaissance Technologies LLC Cuts Stake in GSI Technology, Inc. (NASDAQ:GSIT)

Renaissance Technologies LLC lessened its stake in GSI Technology, Inc. (NASDAQ:GSIT) by 22.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 255,635 shares of the semiconductor company’s stock after selling 72,115 shares during the quarter. Renaissance Technologies LLC owned approximately 1.00% of GSI Technology worth $677,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GSIT. Silverberg Bernstein Capital Management LLC lifted its position in GSI Technology by 2.2% during the first quarter. Silverberg Bernstein Capital Management LLC now owns 453,131 shares of the semiconductor company’s stock valued at $1,541,000 after purchasing an additional 9,600 shares during the last quarter. Thompson Davis & CO. Inc. bought a new position in shares of GSI Technology in the 1st quarter valued at about $42,000. Viawealth LLC grew its position in GSI Technology by 82.4% in the first quarter. Viawealth LLC now owns 23,350 shares of the semiconductor company’s stock worth $79,000 after acquiring an additional 10,550 shares in the last quarter. Virtu Financial LLC bought a new stake in GSI Technology during the first quarter worth approximately $135,000. Finally, American Century Companies Inc. raised its position in GSI Technology by 42.3% during the second quarter. American Century Companies Inc. now owns 19,827 shares of the semiconductor company’s stock valued at $53,000 after purchasing an additional 5,890 shares during the period. Institutional investors own 33.15% of the company’s stock.

GSI Technology Trading Down 8.7 %

GSI Technology stock opened at $3.48 on Wednesday. GSI Technology, Inc. has a 12-month low of $1.88 and a 12-month high of $6.02. The firm has a 50-day moving average price of $2.76 and a 200-day moving average price of $3.02. The firm has a market capitalization of $88.55 million, a PE ratio of -4.35 and a beta of 0.95.

GSI Technology (NASDAQ:GSIT) last announced its quarterly earnings data on Thursday, July 25th. The semiconductor company reported ($0.14) earnings per share (EPS) for the quarter. The firm had revenue of $4.67 million during the quarter. GSI Technology had a negative return on equity of 46.39% and a negative net margin of 66.67%.

Analyst Ratings Changes

Separately, StockNews.com raised GSI Technology from a “sell” rating to a “hold” rating in a research report on Monday, August 5th.

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.