GSI Technology, Inc. (NASDAQ:GSIT - Get Free Report) saw a large decline in short interest in the month of December. As of December 31st, there was short interest totalling 369,000 shares, a decline of 36.2% from the December 15th total of 578,300 shares. Based on an average daily trading volume, of 168,800 shares, the days-to-cover ratio is presently 2.2 days. Currently, 1.9% of the shares of the company are short sold.
Institutional Trading of GSI Technology
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. increased its holdings 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 valued at $53,000 after buying an additional 5,890 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of GSI Technology by 19.0% in the 3rd quarter. Geode Capital Management LLC now owns 205,116 shares of the semiconductor company's stock worth $626,000 after acquiring an additional 32,711 shares during the period. Finally, Silverberg Bernstein Capital Management LLC increased its stake in GSI Technology by 1.3% in the 3rd quarter. Silverberg Bernstein Capital Management LLC now owns 471,986 shares of the semiconductor company's stock valued at $1,440,000 after purchasing an additional 6,012 shares in the last quarter. Institutional investors and hedge funds own 33.15% of the company's stock.
Analyst Ratings Changes
Separately, StockNews.com cut shares of GSI Technology from a "hold" rating to a "sell" rating in a research note on Monday, October 28th.
View Our Latest Stock Report on GSI Technology
GSI Technology Stock Performance
GSIT traded up $0.07 during trading on Wednesday, reaching $2.80. The company's stock had a trading volume of 120,881 shares, compared to its average volume of 221,375. The company has a market capitalization of $71.36 million, a price-to-earnings ratio of -4.67 and a beta of 0.98. The company's fifty day moving average price is $2.97 and its 200-day moving average price is $2.95. GSI Technology has a 52-week low of $1.88 and a 52-week high of $6.02.
GSI Technology (NASDAQ:GSIT - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The semiconductor company reported ($0.21) earnings per share for the quarter. GSI Technology had a negative return on equity of 54.03% and a negative net margin of 77.71%. The business had revenue of $4.55 million for the quarter.
About GSI Technology
(
Get Free Report)
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.
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