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

GSI Technology, Inc. (NASDAQ:GSIT - Get Free Report)'s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.98 and traded as high as $3.90. GSI Technology shares last traded at $3.55, with a volume of 1,224,176 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of GSI Technology from a "hold" rating to a "sell" rating in a research note on Monday, October 28th.

GSI Technology Stock Performance

The business has a 50 day moving average of $3.03 and a two-hundred day moving average of $2.98. The firm has a market capitalization of $92.78 million, a price-to-earnings ratio of -6.07 and a beta of 0.98.

GSI Technology (NASDAQ:GSIT - Get Free Report) last issued its earnings results 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 firm had revenue of $4.55 million for the quarter.

Institutional Investors Weigh In On GSI Technology

Hedge funds and other institutional investors have recently made changes to their positions in the business. American Century Companies Inc. boosted its stake in GSI Technology by 42.3% during the 2nd quarter. American Century Companies Inc. now owns 19,827 shares of the semiconductor company's stock valued at $53,000 after purchasing an additional 5,890 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of GSI Technology by 19.0% during the third quarter. Geode Capital Management LLC now owns 205,116 shares of the semiconductor company's stock valued at $626,000 after buying an additional 32,711 shares during the last quarter. Finally, Silverberg Bernstein Capital Management LLC grew its holdings in GSI Technology by 1.3% during the third quarter. Silverberg Bernstein Capital Management LLC now owns 471,986 shares of the semiconductor company's stock worth $1,440,000 after buying an additional 6,012 shares in the last quarter. 33.15% of the stock is owned by institutional investors.

About GSI Technology

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.