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

GSI Technology, Inc. (NASDAQ:GSIT) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $3.05 and traded as high as $3.37. GSI Technology shares last traded at $3.14, with a volume of 194,532 shares.

Wall Street Analyst Weigh In

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

GSI Technology Stock Down 7.4 %

The stock has a 50 day moving average of $3.15 and a 200 day moving average of $3.05. The firm has a market capitalization of $80.38 million, a price-to-earnings ratio of -6.28 and a beta of 0.98.

GSI Technology (NASDAQ:GSIT) last issued its earnings results on Thursday, January 30th. The semiconductor company reported ($0.16) earnings per share (EPS) for the quarter. GSI Technology had a negative return on equity of 50.33% and a negative net margin of 64.33%.

Hedge Funds Weigh In On GSI Technology

Several institutional investors and hedge funds have recently modified their holdings of the stock. WealthPlan Investment Management LLC acquired a new stake in shares of GSI Technology in the 4th quarter valued at $114,000. Geode Capital Management LLC increased its stake in GSI Technology by 19.0% in the third quarter. Geode Capital Management LLC now owns 205,116 shares of the semiconductor company’s stock valued at $626,000 after acquiring an additional 32,711 shares during the period. Barclays PLC bought a new stake in GSI Technology in the fourth quarter valued at about $39,000. Two Sigma Investments LP grew its stake in GSI Technology by 19.0% during the fourth quarter. Two Sigma Investments LP now owns 69,960 shares of the semiconductor company’s stock worth $212,000 after buying an additional 11,149 shares during the last quarter. Finally, Two Sigma Advisers LP bought a new stake in GSI Technology during the fourth quarter worth about $33,000. 33.15% of the stock is currently owned by hedge funds and other institutional investors.

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.