GSI Technology (NASDAQ:GSIT) Stock Price Passes Above 200-Day Moving Average – Here’s Why

GSI Technology, Inc. (NASDAQ:GSIT) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $3.05 and traded as high as $3.37. GSI Technology shares last traded at $3.14, with a volume of 194,532 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of GSI Technology from a “hold” rating to a “sell” rating in a report on Monday, October 28th.

GSI Technology Price Performance

The firm has a market cap of $80.38 million, a P/E ratio of -6.28 and a beta of 0.98. The business’s 50-day moving average is $3.15 and its two-hundred day moving average is $3.05.

GSI Technology (NASDAQ:GSIT) last announced its quarterly earnings results on Thursday, January 30th. The semiconductor company reported ($0.16) EPS for the quarter. GSI Technology had a negative net margin of 64.33% and a negative return on equity of 50.33%.

Hedge Funds Weigh In On GSI Technology

A number of hedge funds have recently added to or reduced their stakes in GSIT. Two Sigma Advisers LP bought a new position in shares of GSI Technology in the 4th quarter valued at $33,000. Two Sigma Investments LP lifted its holdings in GSI Technology by 19.0% during the 4th quarter. Two Sigma Investments LP now owns 69,960 shares of the semiconductor company’s stock worth $212,000 after buying an additional 11,149 shares during the period. Northern Trust Corp lifted its stake in shares of GSI Technology by 30.7% in the 4th quarter. Northern Trust Corp now owns 40,733 shares of the semiconductor company’s stock valued at $123,000 after purchasing an additional 9,557 shares during the period. Barclays PLC acquired a new position in shares of GSI Technology in the 4th quarter valued at about $39,000. Finally, Geode Capital Management LLC increased its position in GSI Technology by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 208,723 shares of the semiconductor company’s stock valued at $633,000 after buying an additional 3,607 shares in the last quarter. Institutional investors own 33.15% of the company’s stock.

About GSI Technology

GSI Technology, Inc 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. It offers associative processing unit products, which are focuses on applications using similarity search in visual search queries for ecommerce, computer vision, drug discovery, cyber security, and service markets.