GSI Technology (NASDAQ:GSIT) Share Price Crosses Above 200-Day Moving Average – Time to Sell?

GSI Technology, Inc. (NASDAQ:GSIT) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.95 and traded as high as $3.19. GSI Technology shares last traded at $3.06, with a volume of 90,743 shares traded.

Wall Street Analysts Forecast Growth

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

GSI Technology Stock Performance

The firm has a market cap of $77.99 million, a PE ratio of -5.10 and a beta of 0.95. The company’s 50-day simple moving average is $3.19 and its two-hundred day simple moving average is $2.95.

GSI Technology (NASDAQ:GSIT) last posted its earnings results on Thursday, October 24th. The semiconductor company reported ($0.21) earnings per share for the quarter. The firm had revenue of $4.55 million for the quarter. GSI Technology had a negative return on equity of 54.03% and a negative net margin of 77.71%.

Institutional Investors Weigh In On GSI Technology

Large investors have recently made changes to their positions in the business. American Century Companies Inc. lifted its stake in GSI Technology by 42.3% in the second quarter. American Century Companies Inc. now owns 19,827 shares of the semiconductor company’s stock worth $53,000 after acquiring an additional 5,890 shares during the period. Viawealth LLC raised its holdings in GSI Technology by 82.4% in the 1st quarter. Viawealth LLC now owns 23,350 shares of the semiconductor company’s stock worth $79,000 after purchasing an additional 10,550 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of GSI Technology in the 1st quarter worth about $135,000. Finally, Silverberg Bernstein Capital Management LLC boosted its stake in shares of GSI Technology by 2.8% during the 2nd quarter. Silverberg Bernstein Capital Management LLC now owns 465,974 shares of the semiconductor company’s stock valued at $1,235,000 after purchasing an additional 12,843 shares in the last quarter. 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.