GSI Technology (NASDAQ:GSIT) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

GSI Technology, Inc. (NASDAQ:GSIT) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $2.94 and traded as high as $3.35. GSI Technology shares last traded at $3.06, with a volume of 183,903 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of GSI Technology from a “hold” rating to a “sell” rating in a research note on Monday, October 28th.

GSI Technology Trading Down 10.8 %

The stock has a 50-day moving average price of $2.99 and a two-hundred day moving average price of $2.94. The stock has a market cap of $77.99 million, a price-to-earnings ratio of -5.10 and a beta of 0.98.

GSI Technology (NASDAQ:GSIT) last released its quarterly earnings results on Thursday, October 24th. The semiconductor company reported ($0.21) EPS for the quarter. GSI Technology had a negative net margin of 77.71% and a negative return on equity of 54.03%. The business had revenue of $4.55 million during the quarter.

Institutional Trading of GSI Technology

Large investors have recently bought and sold shares of the stock. American Century Companies Inc. lifted its stake in shares of GSI Technology by 42.3% during the second quarter. American Century Companies Inc. now owns 19,827 shares of the semiconductor company’s stock worth $53,000 after buying an additional 5,890 shares during the period. Silverberg Bernstein Capital Management LLC increased its position in shares of GSI Technology by 1.3% in the 3rd quarter. Silverberg Bernstein Capital Management LLC now owns 471,986 shares of the semiconductor company’s stock valued at $1,440,000 after acquiring an additional 6,012 shares during the period. Finally, Geode Capital Management LLC raised its stake in GSI Technology by 19.0% in the 3rd quarter. Geode Capital Management LLC now owns 205,116 shares of the semiconductor company’s stock worth $626,000 after acquiring an additional 32,711 shares during the last quarter. Hedge funds and other institutional investors own 33.15% of the company’s stock.

About GSI Technology

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.