GSI Technology Sees Unusually High Options Volume (NASDAQ:GSIT)

GSI Technology, Inc. (NASDAQ:GSIT) was the target of unusually large options trading on Wednesday. Stock traders bought 6,885 call options on the stock. This is an increase of 135% compared to the typical daily volume of 2,930 call options.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of GSI Technology in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Insiders Place Their Bets

In other news, VP Patrick T. Chuang sold 40,000 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $8.66, for a total transaction of $346,400.00. Following the completion of the transaction, the vice president directly owned 15,166 shares in the company, valued at $131,337.56. This trade represents a 72.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Avidan Akerib sold 54,732 shares of GSI Technology stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $8.54, for a total value of $467,411.28. Following the completion of the transaction, the vice president directly owned 23,307 shares of the company’s stock, valued at approximately $199,041.78. This represents a 70.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 230,018 shares of company stock worth $2,038,150. Insiders own 25.40% of the company’s stock.

Institutional Investors Weigh In On GSI Technology

Several institutional investors and hedge funds have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. purchased a new position in GSI Technology during the second quarter valued at $165,000. Silverberg Bernstein Capital Management LLC grew its holdings in GSI Technology by 31.1% during the 2nd quarter. Silverberg Bernstein Capital Management LLC now owns 688,464 shares of the semiconductor company’s stock valued at $2,313,000 after buying an additional 163,511 shares in the last quarter. XTX Topco Ltd bought a new stake in GSI Technology in the 2nd quarter worth approximately $246,000. U.S. Capital Wealth Advisors LLC purchased a new position in shares of GSI Technology in the second quarter valued at $55,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in GSI Technology during the second quarter valued at $55,000. Institutional investors own 33.15% of the company’s stock.

GSI Technology Stock Performance

Shares of NASDAQ GSIT traded down $0.48 during midday trading on Wednesday, reaching $7.20. The stock had a trading volume of 6,412,150 shares, compared to its average volume of 1,787,219. The company has a market capitalization of $253.69 million, a price-to-earnings ratio of -16.39 and a beta of 1.46. GSI Technology has a 12-month low of $1.62 and a 12-month high of $18.15. The stock has a 50-day moving average of $6.86 and a 200-day moving average of $5.54.

GSI Technology (NASDAQ:GSIT) last issued its earnings results on Thursday, October 30th. The semiconductor company reported ($0.11) earnings per share for the quarter. The firm had revenue of $6.44 million during the quarter. GSI Technology had a negative return on equity of 34.79% and a negative net margin of 48.54%.

GSI Technology Company Profile

GSI Technology, Inc is a fabless semiconductor company specializing in the design and development of high-performance memory products. Headquartered in Sunnyvale, California, the company was founded in 1995 and has focused its efforts on content addressable memory (CAM) and high-speed SRAM (static random-access memory) solutions. As a publicly traded company listed on NASDAQ under the ticker GSIT, GSI Technology leverages advanced architectures to meet demanding data-processing requirements.

The company’s core product portfolio includes ternary CAM (TCAM) devices, binary CAM (BCAM) devices and high-speed synchronous SRAM.