GSI Technology (NASDAQ:GSIT) Stock Price Passes Above 200-Day Moving Average – Here’s Why

GSI Technology, Inc. (NASDAQ:GSIT) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.99 and traded as high as $3.24. GSI Technology shares last traded at $3.15, with a volume of 445,788 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded GSI Technology from a “hold” rating to a “sell” rating in a report on Monday, October 28th.

GSI Technology Trading Down 1.0 %

The firm has a fifty day moving average of $3.04 and a 200 day moving average of $2.99. The company has a market capitalization of $79.53 million, a P/E ratio of -6.24 and a beta of 0.98.

GSI Technology (NASDAQ:GSIT) last released its quarterly earnings results on Thursday, January 30th. The semiconductor company reported ($0.16) earnings per share (EPS) for the quarter. GSI Technology had a negative net margin of 64.33% and a negative return on equity of 48.28%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in GSIT. Geode Capital Management LLC grew its stake in shares of GSI Technology by 19.0% during the 3rd quarter. Geode Capital Management LLC now owns 205,116 shares of the semiconductor company’s stock valued at $626,000 after acquiring an additional 32,711 shares during the period. Silverberg Bernstein Capital Management LLC grew its stake in shares of GSI Technology by 2.1% during the 4th quarter. Silverberg Bernstein Capital Management LLC now owns 481,817 shares of the semiconductor company’s stock valued at $1,460,000 after acquiring an additional 9,831 shares during the period. WealthPlan Investment Management LLC bought a new position in shares of GSI Technology during the 4th quarter valued at approximately $114,000. Finally, Ethos Financial Group LLC bought a new position in shares of GSI Technology during the 4th quarter valued at approximately $31,000. 33.15% of the stock is currently owned by institutional investors.

GSI Technology Company Profile

GSI Technology, Inc 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. It offers associative processing unit products, which are focuses on applications using similarity search in visual search queries for ecommerce, computer vision, drug discovery, cyber security, and service markets.