GSI Technology’s (GSIT) Hold Rating Reaffirmed at Needham & Company LLC

GSI Technology’s (GSIT) Hold Rating Reaffirmed at Needham & Company LLC

GSI Technology (NASDAQ:GSIT)‘s stock had its “hold” rating restated by Needham & Company LLC in a research report issued on Wednesday, AnalystRatings.com reports.

A number of other equities analysts also recently issued reports on GSIT. ValuEngine upgraded GSI Technology from a “hold” rating to a “buy” rating in a research report on Friday, February 8th. TheStreet upgraded GSI Technology from a “c+” rating to a “b-” rating in a research report on Wednesday, February 20th.

Shares of GSIT opened at $7.91 on Wednesday. GSI Technology has a 1 year low of $4.62 and a 1 year high of $9.00.

In other news, VP Robert Yau sold 10,625 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $8.05, for a total transaction of $85,531.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Bor-Tay Wu sold 20,625 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $7.69, for a total value of $158,606.25. Following the transaction, the vice president now owns 933,125 shares of the company’s stock, valued at $7,175,731.25. The disclosure for this sale can be found here. Insiders have sold 41,250 shares of company stock valued at $326,138 over the last 90 days. 36.30% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of GSIT. Acadian Asset Management LLC bought a new stake in GSI Technology in the first quarter worth approximately $46,000. Spark Investment Management LLC increased its holdings in GSI Technology by 103.8% in the first quarter. Spark Investment Management LLC now owns 21,600 shares of the semiconductor company’s stock worth $167,000 after purchasing an additional 11,000 shares in the last quarter. Tibra Equities Europe Ltd bought a new stake in GSI Technology in the first quarter worth approximately $282,000. BlackRock Inc. increased its holdings in GSI Technology by 7.2% in the first quarter. BlackRock Inc. now owns 58,453 shares of the semiconductor company’s stock worth $454,000 after purchasing an additional 3,940 shares in the last quarter. Finally, Cowen Prime Services LLC increased its holdings in GSI Technology by 19.3% in the fourth quarter. Cowen Prime Services LLC now owns 73,583 shares of the semiconductor company’s stock worth $378,000 after purchasing an additional 11,927 shares in the last quarter. Institutional investors own 27.49% of the company’s stock.

GSI Technology Company Profile

GSI Technology, Inc, a fabless semiconductor company, designs, develops, and markets memory products primarily for the networking and telecommunications markets in the United States, China, Singapore, the Netherlands, and internationally. It offers synchronous static random access memory (SRAM) products, such as BurstRAMs for microprocessor cache applications; No Bus Turnaround SRAMs to address the needs of moderate performance networking applications; SigmaQuad and SigmaDDR products that are double data rate and quad data rate synchronous SRAMs; and radiation-hardened SRAMs for aerospace and military applications, such as networking satellites and missiles.

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