StockNews.com Upgrades GSI Technology (NASDAQ:GSIT) to Hold

StockNews.com upgraded shares of GSI Technology (NASDAQ:GSIT) from a sell rating to a hold rating in a research report released on Monday morning.

GSI Technology Stock Down 1.1 %

Shares of GSIT traded down $0.02 during mid-day trading on Monday, hitting $2.35. 85,446 shares of the company’s stock were exchanged, compared to its average volume of 351,456. The firm has a market cap of $59.67 million, a price-to-earnings ratio of -3.03 and a beta of 0.94. The stock’s 50-day simple moving average is $2.73 and its 200-day simple moving average is $3.08. GSI Technology has a 52 week low of $1.88 and a 52 week high of $6.02.

Insider Buying and Selling at GSI Technology

In other news, Director Barbara H. Nelson 27,005 shares of the stock in a transaction on Tuesday, July 30th. The was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 32.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Silverberg Bernstein Capital Management LLC raised its holdings in GSI Technology by 2.8% in the second quarter. Silverberg Bernstein Capital Management LLC now owns 465,974 shares of the semiconductor company’s stock worth $1,235,000 after buying an additional 12,843 shares during the last quarter. Virtu Financial LLC bought a new stake in GSI Technology during the first quarter valued at about $135,000. Viawealth LLC increased its stake in shares of GSI Technology by 82.4% in the first quarter. Viawealth LLC now owns 23,350 shares of the semiconductor company’s stock worth $79,000 after purchasing an additional 10,550 shares in the last quarter. Finally, Thompson Davis & CO. Inc. bought a new stake in GSI Technology during the 1st quarter valued at approximately $42,000. 33.15% of the stock is owned by institutional investors.

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.