New York State Common Retirement Fund boosted its stake in shares of GSI Technology, Inc. (NASDAQ:GSIT) by 29.3% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 160,079 shares of the semiconductor company’s stock after purchasing an additional 36,294 shares during the period. New York State Common Retirement Fund owned approximately 0.77% of GSI Technology worth $1,258,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Rhumbline Advisers acquired a new stake in GSI Technology during the 2nd quarter worth about $117,000. Prudential Financial Inc. grew its position in GSI Technology by 35.0% during the 2nd quarter. Prudential Financial Inc. now owns 33,880 shares of the semiconductor company’s stock worth $267,000 after purchasing an additional 8,780 shares during the period. TIAA CREF Investment Management LLC acquired a new stake in GSI Technology during the 2nd quarter worth about $293,000. Teachers Advisors LLC acquired a new stake in GSI Technology during the 2nd quarter worth about $194,000. Finally, Bank of New York Mellon Corp grew its position in GSI Technology by 389.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 49,530 shares of the semiconductor company’s stock worth $389,000 after purchasing an additional 39,407 shares during the period. 31.47% of the stock is currently owned by institutional investors.
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Separately, Needham & Company LLC restated a “hold” rating on shares of GSI Technology in a research report on Monday, July 31st.
Shares of GSI Technology, Inc. (NASDAQ GSIT) opened at 6.92 on Wednesday. GSI Technology, Inc. has a 52-week low of $4.71 and a 52-week high of $9.68. The firm’s market capitalization is $145.39 million. The stock’s 50 day moving average price is $7.12 and its 200-day moving average price is $7.47.
GSI Technology (NASDAQ:GSIT) last announced its earnings results on Thursday, October 26th. The semiconductor company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.07). GSI Technology had a negative net margin of 10.08% and a negative return on equity of 4.92%. The business had revenue of $9.65 million during the quarter, compared to analysts’ expectations of $10.50 million. During the same period in the previous year, the company posted $0.03 earnings per share. GSI Technology’s quarterly revenue was down 27.8% on a year-over-year basis. Equities research analysts anticipate that GSI Technology, Inc. will post ($0.04) EPS for the current fiscal year.
GSI Technology 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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