Wall Street Zen lowered shares of GSI Technology (NASDAQ:GSIT – Free Report) from a sell rating to a strong sell rating in a report released on Saturday,Wall Street Zen reports.
A number of other research firms have also commented on GSIT. Williams Trading set a $9.00 price objective on GSI Technology in a research note on Monday, September 14th. Weiss Ratings restated a “sell (d-)” rating on shares of GSI Technology in a research note on Friday, July 17th. Finally, Needham & Company LLC initiated coverage on GSI Technology in a report on Monday, September 14th. They issued a “buy” rating and a $9.00 target price on the stock. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $9.00.
Read Our Latest Research Report on GSI Technology
GSI Technology Trading Down 3.2%
GSI Technology (NASDAQ:GSIT – Get Free Report) last announced its earnings results on Thursday, July 30th. The semiconductor company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.06. GSI Technology had a negative net margin of 62.90% and a negative return on equity of 21.39%. The firm had revenue of $6.31 million for the quarter, compared to the consensus estimate of $7.30 million.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in GSI Technology during the second quarter worth about $18,551,000. GSA Capital Partners LLP acquired a new position in GSI Technology in the 2nd quarter valued at approximately $1,377,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in GSI Technology in the 2nd quarter valued at approximately $2,385,000. Bank of America Corp DE bought a new stake in shares of GSI Technology in the 2nd quarter worth approximately $448,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of GSI Technology in the 2nd quarter worth approximately $257,000. Institutional investors and hedge funds own 33.15% of the company’s stock.
GSI Technology Company Profile
GSI Technology, Inc is a fabless semiconductor company that develops high-performance memory and computing solutions. The company is best known for its static random-access memory (SRAM) products, including synchronous SRAM devices designed for applications requiring fast data access, high bandwidth and reliable operation.
In addition to its memory products, GSI Technology develops associative processing technology for data-intensive workloads. Its Gemini associative processing units are designed to perform similarity searches and other computational tasks in parallel, supporting applications such as artificial intelligence, machine learning, cybersecurity, image and video analysis, and database acceleration.
Founded in 1995 and headquartered in Sunnyvale, California, GSI Technology serves customers in communications, networking, industrial, defense, aerospace and other technology markets.
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