GSI Technology, Inc. (NASDAQ:GSIT) Short Interest Up 7.7% in September

GSI Technology, Inc. (NASDAQ:GSIT) was the recipient of a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 750,200 shares, an increase of 7.7% from the August 31st total of 696,300 shares. Based on an average trading volume of 118,700 shares, the short-interest ratio is presently 6.3 days. Currently, 4.0% of the shares of the company are short sold.

GSI Technology Stock Down 0.7 %

GSIT stock opened at $3.03 on Wednesday. The business’s 50-day moving average price is $2.70 and its 200-day moving average price is $3.02. The stock has a market cap of $77.10 million, a P/E ratio of -3.79 and a beta of 0.94. GSI Technology has a twelve month low of $1.88 and a twelve month high of $6.02.

GSI Technology (NASDAQ:GSIT) last issued its quarterly earnings results on Thursday, July 25th. The semiconductor company reported ($0.14) earnings per share for the quarter. The firm had revenue of $4.67 million for the quarter. GSI Technology had a negative net margin of 66.67% and a negative return on equity of 46.39%.

Analyst Ratings Changes

Separately, StockNews.com raised GSI Technology from a “sell” rating to a “hold” rating in a report on Monday, August 5th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Thompson Davis & CO. Inc. bought a new stake in GSI Technology during the first quarter valued at about $42,000. American Century Companies Inc. grew its position in shares of GSI Technology by 42.3% during the second quarter. American Century Companies Inc. now owns 19,827 shares of the semiconductor company’s stock worth $53,000 after purchasing an additional 5,890 shares in the last quarter. Viawealth LLC raised its stake in GSI Technology by 82.4% during the 1st quarter. Viawealth LLC now owns 23,350 shares of the semiconductor company’s stock valued at $79,000 after purchasing an additional 10,550 shares during the period. Virtu Financial LLC purchased a new position in GSI Technology in the 1st quarter worth approximately $135,000. Finally, Silverberg Bernstein Capital Management LLC boosted its stake in GSI Technology by 2.8% in the 2nd quarter. Silverberg Bernstein Capital Management LLC now owns 465,974 shares of the semiconductor company’s stock worth $1,235,000 after purchasing an additional 12,843 shares during the period. 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.