GSI Technology (NASDAQ:GSIT) Share Price Crosses Above 50-Day Moving Average of $7.99

GSI Technology, Inc. (NASDAQ:GSIT) shares crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $7.99 and traded as high as $8.74. GSI Technology shares last traded at $8.70, with a volume of 1,420 shares trading hands.

A number of analysts recently issued reports on the company. ValuEngine cut GSI Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, March 5th. Needham & Company LLC reissued a “hold” rating on shares of GSI Technology in a research report on Wednesday, May 8th. Finally, TheStreet cut GSI Technology from a “b-” rating to a “c” rating in a research report on Friday, May 3rd.

The stock’s fifty day moving average price is $8.02.

In other news, VP Bor-Tay Wu sold 20,625 shares of GSI Technology stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $7.69, for a total value of $158,606.25. Following the transaction, the vice president now directly owns 933,125 shares in the company, valued at $7,175,731.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert Yau sold 10,625 shares of GSI Technology stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $8.05, for a total value of $85,531.25. The disclosure for this sale can be found here. 36.30% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of GSIT. Alambic Investment Management L.P. increased its stake in shares of GSI Technology by 285.4% in the fourth quarter. Alambic Investment Management L.P. now owns 89,090 shares of the semiconductor company’s stock worth $458,000 after purchasing an additional 65,974 shares during the period. Tibra Equities Europe Ltd bought a new position in GSI Technology during the first quarter valued at about $282,000. Vanguard Group Inc. increased its stake in GSI Technology by 3.1% during the third quarter. Vanguard Group Inc. now owns 638,403 shares of the semiconductor company’s stock valued at $4,405,000 after acquiring an additional 19,291 shares during the period. Spark Investment Management LLC increased its stake in GSI Technology by 103.8% during the first quarter. Spark Investment Management LLC now owns 21,600 shares of the semiconductor company’s stock valued at $167,000 after acquiring an additional 11,000 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in GSI Technology by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 968,067 shares of the semiconductor company’s stock valued at $4,976,000 after acquiring an additional 8,392 shares during the period. Institutional investors and hedge funds own 28.87% of the company’s stock.

GSI Technology Company Profile (NASDAQ:GSIT)

GSI Technology, Inc, a fabless semiconductor company, designs, develops, and markets memory products primarily for the networking and telecommunications markets in the United States, China, Singapore, the Netherlands, and internationally. It offers synchronous static random access memory (SRAM) products, such as BurstRAMs for microprocessor cache applications; No Bus Turnaround SRAMs to address the needs of moderate performance networking applications; SigmaQuad and SigmaDDR products that are double data rate and quad data rate synchronous SRAMs; and radiation-hardened SRAMs for aerospace and military applications, such as networking satellites and missiles.

Read More: Short Selling Stocks, A Beginner’s Guide

Receive News & Ratings for GSI Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GSI Technology and related companies with MarketBeat.com's FREE daily email newsletter.