GSI Technology (NASDAQ:GSIT) Issues Earnings Results, Misses Estimates By $0.03 EPS
GSI Technology (NASDAQ:GSIT) posted its quarterly earnings data on Thursday. The semiconductor company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03), Morningstar.com reports. GSI Technology had a return on equity of 1.85% and a net margin of 3.16%. The firm had revenue of $13.02 million during the quarter. GSI Technology updated its Q2 2020 guidance to EPS.
Shares of NASDAQ:GSIT opened at $8.34 on Friday. The firm’s fifty day moving average is $8.41. The firm has a market cap of $190.97 million, a price-to-earnings ratio of 119.14 and a beta of 1.29. GSI Technology has a 12-month low of $4.62 and a 12-month high of $9.00.
In other GSI Technology news, VP Robert Yau sold 10,625 shares of GSI Technology stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $8.05, for a total transaction of $85,531.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Bor-Tay Wu sold 20,625 shares of GSI Technology stock in a transaction on Monday, May 6th. The shares were sold at an average price of $7.69, for a total transaction of $158,606.25. Following the sale, the vice president now directly owns 933,125 shares of the company’s stock, valued at approximately $7,175,731.25. The disclosure for this sale can be found here. Company insiders own 36.30% of the company’s stock.
GSIT has been the subject of a number of recent analyst reports. TheStreet lowered shares of Viewray from a “c-” rating to a “d” rating in a research note on Friday, May 3rd. Needham & Company LLC decreased their target price on shares of 2U to $75.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th.
About GSI Technology
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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