GSI Technology (GSIT) Announces Quarterly Earnings Results

GSI Technology (NASDAQ:GSIT) announced its quarterly earnings data on Thursday. The semiconductor company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.03), reports. GSI Technology had a negative net margin of 10.08% and a negative return on equity of 4.93%. The firm had revenue of $11.12 million for the quarter, compared to the consensus estimate of $10.50 million. During the same period last year, the company posted $0.02 earnings per share. GSI Technology’s revenue for the quarter was down 3.1% on a year-over-year basis.

GSI Technology (GSIT) opened at $8.65 on Friday. GSI Technology has a twelve month low of $5.58 and a twelve month high of $9.68.

Separately, Needham & Company LLC reissued a “hold” rating on shares of GSI Technology in a report on Thursday, October 26th.

A hedge fund recently bought a new stake in GSI Technology stock. California State Teachers Retirement System acquired a new stake in shares of GSI Technology, Inc. (NASDAQ:GSIT) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 25,300 shares of the semiconductor company’s stock, valued at approximately $199,000. California State Teachers Retirement System owned 0.12% of GSI Technology at the end of the most recent quarter. 32.01% of the stock is currently owned by institutional investors and hedge funds.

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About GSI Technology

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.

Earnings History for GSI Technology (NASDAQ:GSIT)

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