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

GSI Technology, Inc. (NASDAQ:GSIT - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.93 and traded as high as $2.99. GSI Technology shares last traded at $2.94, with a volume of 113,085 shares.

GSI Technology Stock Performance

The firm has a 50 day moving average of $2.56 and a 200-day moving average of $2.93. The stock has a market capitalization of $75.27 million, a PE ratio of -5.88 and a beta of 1.18.

GSI Technology (NASDAQ:GSIT - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The semiconductor company reported ($0.16) earnings per share (EPS) for the quarter. GSI Technology had a negative return on equity of 50.33% and a negative net margin of 64.33%.

Institutional Investors Weigh In On GSI Technology

Several hedge funds have recently bought and sold shares of GSIT. Geode Capital Management LLC increased its position in GSI Technology by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 208,723 shares of the semiconductor company's stock worth $633,000 after purchasing an additional 3,607 shares during the last quarter. Northern Trust Corp increased its position in GSI Technology by 30.7% in the 4th quarter. Northern Trust Corp now owns 40,733 shares of the semiconductor company's stock worth $123,000 after purchasing an additional 9,557 shares during the last quarter. Silverberg Bernstein Capital Management LLC increased its position in GSI Technology by 2.1% in the 4th 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 last quarter. Ethos Financial Group LLC acquired a new position in GSI Technology in the 4th quarter worth about $31,000. Finally, Two Sigma Advisers LP acquired a new position in GSI Technology in the 4th quarter worth about $33,000. 33.15% of the stock is owned by hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.