GSI Technology (NASDAQ:GSIT) Shares Pass Above 200 Day Moving Average – Should You Sell?

Shares of GSI Technology, Inc. (NASDAQ:GSIT) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.91 and traded as high as $3.15. GSI Technology shares last traded at $3.03, with a volume of 134,707 shares.

Wall Street Analyst Weigh In

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

GSI Technology Stock Performance

The firm has a market cap of $83.08 million, a price-to-earnings ratio of -5.43 and a beta of 0.96. The stock has a 50-day moving average of $3.00 and a 200-day moving average of $2.92.

GSI Technology (NASDAQ:GSIT) last posted its quarterly earnings data on Thursday, October 24th. The semiconductor company reported ($0.21) earnings per share (EPS) for the quarter. GSI Technology had a negative net margin of 77.71% and a negative return on equity of 54.03%. The business had revenue of $4.55 million during the quarter.

Institutional Trading of GSI Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings 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 during the last quarter. Silverberg Bernstein Capital Management LLC lifted its stake in GSI Technology by 1.3% in the third quarter. Silverberg Bernstein Capital Management LLC now owns 471,986 shares of the semiconductor company’s stock valued at $1,440,000 after acquiring an additional 6,012 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of GSI Technology by 42.3% in the 2nd quarter. American Century Companies Inc. now owns 19,827 shares of the semiconductor company’s stock valued at $53,000 after acquiring an additional 5,890 shares during the period. Institutional investors and hedge funds 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.