GSI Technology, Inc. (GSIT) Short Interest Update

GSI Technology, Inc. (NASDAQ:GSIT) saw a significant decline in short interest in the month of October. As of October 13th, there was short interest totalling 490,337 shares, a decline of 30.6% from the September 29th total of 706,719 shares. Based on an average daily volume of 24,222 shares, the short-interest ratio is currently 20.2 days. Currently, 3.5% of the shares of the company are sold short.

GSI Technology (NASDAQ GSIT) opened at 6.86 on Tuesday. The firm’s market capitalization is $144.13 million. GSI Technology has a 52-week low of $4.71 and a 52-week high of $9.68. The company’s 50-day moving average is $7.12 and its 200-day moving average is $7.47.

GSI Technology (NASDAQ:GSIT) last issued its earnings results 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 during the quarter, compared to analysts’ expectations of $10.50 million. GSI Technology had a negative net margin of 10.08% and a negative return on equity of 4.92%. The firm’s revenue was down 27.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.03 EPS. On average, analysts predict that GSI Technology will post ($0.04) EPS for the current year.

Separately, Needham & Company LLC restated a “hold” rating on shares of GSI Technology in a research report on Monday, July 31st.

Several hedge funds and other institutional investors have recently made changes to their positions in GSIT. Rhumbline Advisers acquired a new stake in shares of GSI Technology in the second quarter valued at about $117,000. Strs Ohio acquired a new stake in shares of GSI Technology in the second quarter valued at about $146,000. Teachers Advisors LLC acquired a new stake in shares of GSI Technology in the second quarter valued at about $194,000. California State Teachers Retirement System acquired a new stake in shares of GSI Technology in the second quarter valued at about $199,000. Finally, OxFORD Asset Management LLP acquired a new stake in shares of GSI Technology in the second quarter valued at about $248,000. Hedge funds and other institutional investors own 31.47% of the company’s stock.

WARNING: “GSI Technology, Inc. (GSIT) Short Interest Update” was first published by Community Financial News and is the property of of Community Financial News. If you are accessing this report on another website, it was illegally copied and republished in violation of US & international copyright & trademark legislation. The correct version of this report can be accessed at https://www.com-unik.info/2017/10/31/gsi-technology-inc-gsit-short-interest-update.html.

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.

What are top analysts saying about GSI Technology Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for GSI Technology Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit