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

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

GSI Technology Stock Performance

GSIT opened at $2.73 on Wednesday. GSI Technology has a one year low of $1.88 and a one year high of $6.02. The stock has a market capitalization of $69.58 million, a P/E ratio of -4.55 and a beta of 0.98. The business’s 50-day simple moving average is $2.98 and its 200-day simple moving average is $2.95.

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

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On GSI Technology

A number of institutional investors have recently modified their holdings of the business. American Century Companies Inc. grew its position in GSI Technology by 42.3% during the 2nd 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 during the last quarter. Geode Capital Management LLC boosted its stake in shares of GSI Technology by 19.0% during the third quarter. Geode Capital Management LLC now owns 205,116 shares of the semiconductor company’s stock worth $626,000 after buying an additional 32,711 shares during the period. Finally, Silverberg Bernstein Capital Management LLC grew its holdings 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 worth $1,440,000 after buying an additional 6,012 shares during the last quarter. 33.15% of the stock is owned by institutional investors and hedge funds.

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.