GSI Technology (NASDAQ:GSIT) Receives New Coverage from Analysts at StockNews.com

StockNews.com started coverage on shares of GSI Technology (NASDAQ:GSITGet Rating) in a report issued on Monday. The brokerage issued a hold rating on the semiconductor company’s stock.

GSI Technology Stock Performance

Shares of GSIT stock opened at $2.09 on Monday. GSI Technology has a one year low of $1.77 and a one year high of $5.93. The company has a 50 day moving average price of $2.29 and a 200 day moving average price of $3.13. The firm has a market capitalization of $51.31 million, a price-to-earnings ratio of -3.17 and a beta of 0.70.

Hedge Funds Weigh In On GSI Technology

Institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp increased its position in shares of GSI Technology by 7.9% in the first quarter. State Street Corp now owns 45,982 shares of the semiconductor company’s stock worth $176,000 after acquiring an additional 3,383 shares in the last quarter. Charles Schwab Investment Management Inc. acquired a new stake in GSI Technology during the 1st quarter valued at $67,000. JPMorgan Chase & Co. grew its holdings in GSI Technology by 167.5% during the 1st quarter. JPMorgan Chase & Co. now owns 8,623 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 5,400 shares in the last quarter. Cowen Prime Advisors LLC grew its holdings in GSI Technology by 1.5% during the 2nd quarter. Cowen Prime Advisors LLC now owns 187,593 shares of the semiconductor company’s stock valued at $647,000 after purchasing an additional 2,855 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in GSI Technology by 4.3% during the 1st quarter. Commonwealth Equity Services LLC now owns 62,861 shares of the semiconductor company’s stock valued at $240,000 after purchasing an additional 2,617 shares in the last quarter. Institutional investors and hedge funds own 22.22% of the company’s stock.

About GSI Technology

(Get Rating)

GSI Technology, Inc, a fabless semiconductor company, 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. The company's associative processing unit products offers applications using similarity search in visual search queries for ecommerce, computer vision, drug discovery, cyber security, and service markets.

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