Wall Street Zen upgraded shares of GSI Technology (NASDAQ:GSIT – Free Report) from a strong sell rating to a sell rating in a research report released on Saturday morning,Wall Street Zen reports.
A number of other equities research analysts have also recently commented on GSIT. Williams Trading set a $9.00 target price on shares of GSI Technology in a research note on Monday, September 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of GSI Technology in a research report on Friday, July 17th. Finally, Needham & Company LLC started coverage on GSI Technology in a research note on Monday, September 14th. They issued a “buy” rating and a $9.00 price target for the company. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $9.00.
View Our Latest Stock Report on GSI Technology
GSI Technology Stock Performance
GSI Technology (NASDAQ:GSIT – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.06. GSI Technology had a negative return on equity of 21.39% and a negative net margin of 62.90%. The business had revenue of $6.31 million during the quarter, compared to analyst estimates of $7.30 million.
Hedge Funds Weigh In On GSI Technology
Hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in GSI Technology during the second quarter valued at $18,551,000. Silverberg Bernstein Capital Management LLC lifted its stake in GSI Technology by 1.4% in the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 785,706 shares of the semiconductor company’s stock worth $4,039,000 after purchasing an additional 11,200 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of GSI Technology during the 2nd quarter valued at about $2,385,000. GSA Capital Partners LLP bought a new position in shares of GSI Technology during the 2nd quarter valued at about $1,377,000. Finally, Bank of America Corp DE grew its position in shares of GSI Technology by 535.5% during the first quarter. Bank of America Corp DE now owns 97,677 shares of the semiconductor company’s stock valued at $502,000 after purchasing an additional 82,308 shares in the last quarter. Hedge funds and other institutional investors own 33.15% of the company’s stock.
About GSI Technology
GSI Technology, Inc is a semiconductor company that develops and markets high-performance memory and computing solutions. Its products are designed for applications that require fast data access, reliable operation and high bandwidth, including communications infrastructure, networking equipment, industrial systems, aerospace and defense applications.
The company’s product portfolio has historically centered on static random-access memory (SRAM), including synchronous and high-speed memory devices sold under product families such as SigmaQuad and SigmaDDR.
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