GSI Technology, Inc. (NASDAQ:GSIT) Short Interest Up 7.8% in July

GSI Technology, Inc. (NASDAQ:GSITGet Rating) was the target of a large growth in short interest in July. As of July 31st, there was short interest totalling 127,800 shares, a growth of 7.8% from the July 15th total of 118,600 shares. Approximately 0.7% of the company’s stock are sold short. Based on an average daily volume of 12,300 shares, the days-to-cover ratio is currently 10.4 days.

Insider Activity

In other news, Director Ruey-Lin Lu acquired 19,645 shares of GSI Technology stock in a transaction dated Friday, May 20th. The shares were acquired at an average cost of $3.22 per share, for a total transaction of $63,256.90. Following the acquisition, the director now owns 41,645 shares of the company’s stock, valued at $134,096.90. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last three months, insiders have bought 35,696 shares of company stock worth $117,248. 32.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of GSIT. JPMorgan Chase & Co. grew its position in GSI Technology by 167.5% during the 1st quarter. JPMorgan Chase & Co. now owns 8,623 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 5,400 shares during the last quarter. Charles Schwab Investment Management Inc. purchased a new stake in shares of GSI Technology in the first quarter valued at about $67,000. Acadian Asset Management LLC purchased a new stake in shares of GSI Technology in the fourth quarter valued at about $75,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of GSI Technology in the fourth quarter valued at about $99,000. Finally, Shufro Rose & Co. LLC purchased a new stake in shares of GSI Technology in the first quarter valued at about $129,000. 23.28% of the stock is owned by hedge funds and other institutional investors.

GSI Technology Stock Down 0.8 %

NASDAQ GSIT opened at $3.71 on Wednesday. The firm’s fifty day moving average price is $3.72 and its 200 day moving average price is $3.83. GSI Technology has a 12 month low of $2.99 and a 12 month high of $6.21.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of GSI Technology in a research report on Wednesday. They issued a “hold” rating on the stock.

About GSI Technology

(Get Rating)

GSI Technology, Inc, a fabless semiconductor company, 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. The company's associative processing unit products offers applications using similarity search in visual search queries for ecommerce, computer vision, drug discovery, cyber security, and service markets.

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