GSI Technology (NASDAQ:GSIT) Shares Pass Above 200 Day Moving Average - Here's What Happened

GSI Technology, Inc. (NASDAQ:GSIT - Get Free Report)'s share price 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.

Wall Street Analysts Forecast Growth

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

GSI Technology Stock Up 1.6 %

The firm has a 50-day moving average price of $3.04 and a two-hundred day moving average price of $2.99. The company has a market capitalization of $80.80 million, a P/E ratio of -6.34 and a beta of 0.98.

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

Institutional Investors Weigh In On GSI Technology

Institutional investors have recently added to or reduced their stakes in the company. Ethos Financial Group LLC bought a new stake in shares of GSI Technology in the 4th quarter worth approximately $31,000. WealthPlan Investment Management LLC acquired a new position in shares of GSI Technology in the fourth quarter valued at $114,000. Silverberg Bernstein Capital Management LLC lifted its position in GSI Technology by 2.1% in the fourth quarter. Silverberg Bernstein Capital Management LLC now owns 481,817 shares of the semiconductor company's stock worth $1,460,000 after purchasing an additional 9,831 shares during the period. Finally, Geode Capital Management LLC boosted its stake in GSI Technology by 19.0% during the third quarter. Geode Capital Management LLC now owns 205,116 shares of the semiconductor company's stock worth $626,000 after buying an additional 32,711 shares in the last quarter. 33.15% of the stock is owned by institutional investors and hedge funds.

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.