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

GSI Technology, Inc. (NASDAQ:GSIT) saw a large decline in short interest in the month of December. As of December 15th, there was short interest totalling 188,400 shares, a decline of 18.3% from the November 30th total of 230,700 shares. Approximately 1.1% of the shares of the company are sold short. Based on an average trading volume of 69,800 shares, the days-to-cover ratio is presently 2.7 days.

In other news, Director Robert Yau sold 28,324 shares of GSI Technology stock in a transaction that occurred on Friday, November 19th. The stock was sold at an average price of $5.93, for a total transaction of $167,961.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 35.10% of the company's stock.

Several institutional investors have recently bought and sold shares of the company. King Luther Capital Management Corp raised its holdings in shares of GSI Technology by 21.2% during the 3rd quarter. King Luther Capital Management Corp now owns 200,000 shares of the semiconductor company's stock worth $1,056,000 after buying an additional 35,000 shares in the last quarter. BlackRock Inc. increased its holdings in GSI Technology by 79.1% in the 3rd quarter. BlackRock Inc. now owns 86,947 shares of the semiconductor company's stock worth $458,000 after purchasing an additional 38,413 shares in the last quarter. Cowen Prime Advisors LLC increased its holdings in GSI Technology by 2.8% in the 3rd quarter. Cowen Prime Advisors LLC now owns 171,930 shares of the semiconductor company's stock worth $908,000 after purchasing an additional 4,753 shares in the last quarter. Marshall Wace LLP increased its holdings in GSI Technology by 414.0% in the 2nd quarter. Marshall Wace LLP now owns 59,073 shares of the semiconductor company's stock worth $332,000 after purchasing an additional 47,580 shares in the last quarter. Finally, Millennium Management LLC acquired a new position in GSI Technology in the 2nd quarter worth about $916,000. 27.93% of the stock is owned by institutional investors.

NASDAQ:GSIT opened at $4.47 on Friday. The stock has a fifty day moving average price of $5.26 and a 200-day moving average price of $5.33. The company has a market cap of $108.84 million, a price-to-earnings ratio of -5.66 and a beta of 0.69. GSI Technology has a fifty-two week low of $4.42 and a fifty-two week high of $8.30.

GSI Technology (NASDAQ:GSIT) last released its earnings results on Thursday, October 28th. The semiconductor company reported ($0.19) earnings per share for the quarter, beating analysts' consensus estimates of ($0.22) by $0.03. The firm had revenue of $7.80 million during the quarter. GSI Technology had a negative return on equity of 25.56% and a negative net margin of 61.13%.

About GSI Technology

GSI Technology, Inc engages in the design, development and marketing of memory products primarily for the networking, and telecommunications markets. Its product includes Static Random Access Memory, or SRAM, which incorporated in networking and telecommunications equipment, such as routers, switches, wide area network infrastructure equipment, wireless base stations and network access equipment.

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