GSI Technology (NASDAQ:GSIT) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of GSI Technology (NASDAQ:GSITGet Rating) in a research note issued to investors on Monday. The brokerage issued a hold rating on the semiconductor company’s stock.

GSI Technology Trading Up 2.5 %

Shares of GSIT stock opened at $2.09 on Monday. GSI Technology has a 1 year low of $1.77 and a 1 year high of $5.93. The firm’s fifty day simple moving average is $2.29 and its 200 day simple moving average is $3.13. The firm has a market capitalization of $51.31 million, a P/E ratio of -3.17 and a beta of 0.70.

Hedge Funds Weigh In On GSI Technology

Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its position in GSI Technology by 167.5% during the first quarter. JPMorgan Chase & Co. now owns 8,623 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 5,400 shares during the period. Charles Schwab Investment Management Inc. bought a new stake in GSI Technology in the 1st quarter valued at $67,000. Shufro Rose & Co. LLC bought a new stake in GSI Technology in the 1st quarter valued at $129,000. State Street Corp increased its holdings in GSI Technology by 7.9% in the 1st quarter. State Street Corp now owns 45,982 shares of the semiconductor company’s stock valued at $176,000 after buying an additional 3,383 shares during the period. Finally, Commonwealth Equity Services LLC increased its holdings in GSI Technology by 4.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 62,861 shares of the semiconductor company’s stock valued at $240,000 after buying an additional 2,617 shares during the period. Institutional investors own 22.22% of the company’s stock.

About GSI Technology

(Get Rating)

GSI Technology, Inc, a fabless semiconductor company, 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. The company's associative processing unit products offers applications using similarity search in visual search queries for ecommerce, computer vision, drug discovery, cyber security, and service markets.

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