“While we would like to get more excited in the name (APU targets massive computing potential, SigmaQuad for Aerospace GMs ~85% vs. GSIT avg. of 50.4%), we believe that GSIT continues to face the same pressing headwinds 1) poor visibility towards rev. ramp or profitability 2) high customer concentration risk resulting in lumpy businesses (Alcatel-Lucent inventory correction) 3) and declining gross margins (50.4% in F2Q18 vs. 52.4% last quarter and 56.6% in F2Q17). This quarter GSIT missed estimates with continual weak sales in the telecommunications and networking markets.”,” Needham & Company LLC’s analyst wrote.
GSI Technology (NASDAQ GSIT) traded down 0.44% on Thursday, reaching $6.82. The company had a trading volume of 5,793 shares. GSI Technology has a one year low of $4.71 and a one year high of $9.68. The firm’s market capitalization is $143.29 million. The company’s 50 day moving average is $7.11 and its 200-day moving average is $7.48.
GSI Technology (NASDAQ:GSIT) last posted its quarterly earnings data on Thursday, October 26th. The semiconductor company reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.07). The firm had revenue of $9.65 million for the quarter, compared to the consensus estimate of $10.50 million. GSI Technology had a negative net margin of 10.08% and a negative return on equity of 4.92%. The business’s revenue was down 27.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.03 earnings per share. On average, equities research analysts expect that GSI Technology will post $0.01 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of GSIT. Rhumbline Advisers bought a new stake in GSI Technology during the 2nd quarter valued at approximately $117,000. Strs Ohio bought a new stake in GSI Technology during the 2nd quarter valued at approximately $146,000. Teachers Advisors LLC bought a new stake in GSI Technology during the 2nd quarter valued at approximately $194,000. California State Teachers Retirement System bought a new stake in GSI Technology during the 2nd quarter valued at approximately $199,000. Finally, OxFORD Asset Management LLP bought a new stake in GSI Technology during the 2nd quarter valued at approximately $248,000. 31.47% of the stock is currently owned by institutional investors and hedge funds.
GSI Technology Company Profile
GSI Technology, Inc is a provider of Very Fast static random access memory (SRAM) products and low latency dynamic random access memory (LLDRAM) products. The Company operates through the design, development and sale of integrated circuits segment. Its products are incorporated primarily in high-performance networking and telecommunications equipment, such as routers, switches, area network infrastructure equipment, wireless base stations and network access equipment.
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