GSI Technology (NASDAQ:GSIT) Stock Passes Above 200 Day Moving Average – Here’s What Happened

GSI Technology, Inc. (NASDAQ:GSIT) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.99 and traded as high as $3.24. GSI Technology shares last traded at $3.15, with a volume of 445,788 shares trading hands.

Analyst Upgrades and Downgrades

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

GSI Technology Stock Performance

The company’s 50 day moving average price is $3.04 and its 200-day moving average price is $2.99. The stock has a market cap of $80.29 million, a P/E ratio of -6.30 and a beta of 0.98.

GSI Technology (NASDAQ:GSIT) last announced its quarterly earnings data on Thursday, January 30th. The semiconductor company reported ($0.16) earnings per share (EPS) for the quarter. GSI Technology had a negative net margin of 64.33% and a negative return on equity of 48.28%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ethos Financial Group LLC bought a new stake in shares of GSI Technology in the fourth quarter valued at approximately $31,000. WealthPlan Investment Management LLC purchased a new position in GSI Technology in the 4th quarter valued at approximately $114,000. Silverberg Bernstein Capital Management LLC grew its stake in GSI Technology by 2.1% in the 4th quarter. Silverberg Bernstein Capital Management LLC now owns 481,817 shares of the semiconductor company’s stock valued at $1,460,000 after buying an additional 9,831 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of GSI Technology by 19.0% during the third 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 in the last quarter. 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.