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

GSI Technology, Inc. (NASDAQ:GSIT) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.99 and traded as high as $3.24. GSI Technology shares last traded at $3.15, with a volume of 445,788 shares.

Wall Street Analysts Forecast Growth

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

GSI Technology Trading Down 1.0 %

The stock has a market cap of $79.53 million, a P/E ratio of -6.24 and a beta of 0.98. The company has a 50-day moving average price of $3.04 and a two-hundred day moving average price of $2.99.

GSI Technology (NASDAQ:GSIT) last released its earnings results on Thursday, January 30th. The semiconductor company reported ($0.16) earnings per share for the quarter. GSI Technology had a negative net margin of 64.33% and a negative return on equity of 48.28%.

Hedge Funds Weigh In On GSI Technology

Several hedge funds have recently bought and sold shares of GSIT. Geode Capital Management LLC grew its position in GSI Technology by 19.0% in the 3rd quarter. Geode Capital Management LLC now owns 205,116 shares of the semiconductor company’s stock valued at $626,000 after acquiring an additional 32,711 shares during the last quarter. Silverberg Bernstein Capital Management LLC grew its position in shares of GSI Technology by 2.1% during the 4th quarter. Silverberg Bernstein Capital Management LLC now owns 481,817 shares of the semiconductor company’s stock worth $1,460,000 after buying an additional 9,831 shares in the last quarter. WealthPlan Investment Management LLC bought a new position in shares of GSI Technology during the 4th quarter worth $114,000. Finally, Ethos Financial Group LLC bought a new position in shares of GSI Technology during the 4th quarter worth $31,000. Institutional investors own 33.15% of the company’s stock.

GSI Technology Company Profile

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.