GSI Technology, Inc. (NASDAQ:GSIT) Sees Large Decline in Short Interest

GSI Technology, Inc. (NASDAQ:GSIT) was the recipient of a significant drop in short interest during the month of December. As of December 31st, there was short interest totalling 369,000 shares, a drop of 36.2% from the December 15th total of 578,300 shares. Based on an average daily volume of 168,800 shares, the short-interest ratio is currently 2.2 days. Approximately 1.9% of the company’s shares are short sold.

Institutional Investors Weigh In On GSI Technology

A number of large investors have recently modified their holdings of the stock. American Century Companies Inc. lifted its holdings in GSI Technology by 42.3% in the second quarter. American Century Companies Inc. now owns 19,827 shares of the semiconductor company’s stock worth $53,000 after buying an additional 5,890 shares during the period. Geode Capital Management LLC raised its position in shares of GSI Technology by 19.0% in the 3rd quarter. Geode Capital Management LLC now owns 205,116 shares of the semiconductor company’s stock worth $626,000 after acquiring an additional 32,711 shares in the last quarter. Finally, Silverberg Bernstein Capital Management LLC boosted its position in shares of GSI Technology by 1.3% during the third quarter. Silverberg Bernstein Capital Management LLC now owns 471,986 shares of the semiconductor company’s stock valued at $1,440,000 after purchasing an additional 6,012 shares in the last quarter. Institutional investors own 33.15% of the company’s stock.

Analyst Ratings Changes

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

NASDAQ:GSIT traded up $1.25 during mid-day trading on Friday, reaching $4.00. 83,388,864 shares of the company’s stock traded hands, compared to its average volume of 7,709,022. GSI Technology has a 12-month low of $1.88 and a 12-month high of $6.02. The company has a 50 day moving average price of $2.96 and a 200-day moving average price of $2.95. The firm has a market capitalization of $101.96 million, a price-to-earnings ratio of -6.73 and a beta of 0.98.

GSI Technology (NASDAQ:GSIT) last announced its earnings results on Thursday, October 24th. The semiconductor company reported ($0.21) EPS for the quarter. The business had revenue of $4.55 million for the quarter. GSI Technology had a negative net margin of 77.71% and a negative return on equity of 54.03%.

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.