GSI Technology, Inc. (NASDAQ:GSIT) Short Interest Up 7.7% in September

GSI Technology, Inc. (NASDAQ:GSIT) was the recipient of a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 750,200 shares, an increase of 7.7% from the August 31st total of 696,300 shares. Approximately 4.0% of the company’s stock are sold short. Based on an average trading volume of 118,700 shares, the short-interest ratio is currently 6.3 days.

GSI Technology Stock Down 0.7 %

NASDAQ:GSIT opened at $3.03 on Wednesday. The stock has a market cap of $77.10 million, a price-to-earnings ratio of -3.79 and a beta of 0.94. The company’s 50 day moving average price is $2.70 and its 200-day moving average price is $3.02. GSI Technology has a 52 week low of $1.88 and a 52 week high of $6.02.

GSI Technology (NASDAQ:GSIT) last posted its earnings results on Thursday, July 25th. The semiconductor company reported ($0.14) EPS for the quarter. GSI Technology had a negative return on equity of 46.39% and a negative net margin of 66.67%. The business had revenue of $4.67 million during the quarter.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of GSI Technology from a “sell” rating to a “hold” rating in a research note on Monday, August 5th.

Hedge Funds Weigh In On GSI Technology

A number of hedge funds have recently bought and sold shares of GSIT. Thompson Davis & CO. Inc. bought a new stake in shares of GSI Technology in the first quarter worth approximately $42,000. American Century Companies Inc. raised 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 buying an additional 5,890 shares during the last quarter. Viawealth LLC lifted its holdings in shares of GSI Technology by 82.4% during the 1st quarter. Viawealth LLC now owns 23,350 shares of the semiconductor company’s stock valued at $79,000 after buying an additional 10,550 shares during the period. Virtu Financial LLC purchased a new position in shares of GSI Technology in the 1st quarter worth $135,000. Finally, Silverberg Bernstein Capital Management LLC boosted its stake in shares of GSI Technology by 2.8% in the 2nd quarter. Silverberg Bernstein Capital Management LLC now owns 465,974 shares of the semiconductor company’s stock worth $1,235,000 after buying an additional 12,843 shares during the last quarter. Hedge funds and other institutional investors own 33.15% of the company’s stock.

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.