The stock of GSI Technology, Inc. (NASDAQ:GSIT) hit a new 52-week high and has $5.74 target or 7.00% above today’s $5.36 share price. The 7 months bullish chart indicates low risk for the $112.40M company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $5.74 price target is reached, the company will be worth $7.87M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 25,739 shares traded hands. GSI Technology, Inc. (NASDAQ:GSIT) has risen 32.75% since April 21, 2016 and is uptrending. It has outperformed by 27.43% the S&P500.
Analysts await GSI Technology, Inc. (NASDAQ:GSIT) to report earnings on January, 26.
According to Zacks Investment Research, “GSI TECHNOLOGY, INC. is a leading provider of high-performance static random access memory, or SRAM, products primarily incorporated in networking and telecommunications equipment. Headquartered in Santa Clara, California, GSI Technology is ISO 9001 certified and has worldwide factory and sales locations. GSI Technology is focused on providing leadership telecom and networking solutions. The Company’s products can be found in a range of networking and telecommunications equipment, including multi-service access routers, universal gateways, enterprise edge routers, service provider edge routers, optical edge routers, fast Ethernet switches, gigabit Ethernet switches, wireless base stations, asymmetric digital subscriber line modems, wireless local area networks, Internet protocol phones and OC192 layer two switches.”
Insitutional Activity: The institutional sentiment increased to 0.91 in 2016 Q2. Its up 0.20, from 0.71 in 2016Q1. The ratio increased, as 5 funds sold all GSI Technology, Inc. shares owned while 9 reduced positions. 3 funds bought stakes while 7 increased positions. They now own 4.54 million shares or 1.80% less from 4.62 million shares in 2016Q1.
Manufacturers Life Ins The last reported 1,151 shares in the company. Comml Bank Of America Corporation De holds 174 shares or 0% of its portfolio. Connor Clark & Lunn Investment Management Ltd last reported 10,175 shares in the company. Css Limited Liability Corporation Il last reported 0% of its portfolio in the stock. Moreover, Blackrock Fund has 0% invested in GSI Technology, Inc. (NASDAQ:GSIT) for 35,062 shares. Spark Invest Management Ltd Company has 28,400 shares for 0.01% of their US portfolio. The New York-based Renaissance Limited Co has invested 0% in GSI Technology, Inc. (NASDAQ:GSIT). Brandywine Glob Invest Mngmt last reported 0% of its portfolio in the stock. Roumell Asset Mngmt Ltd has 571,460 shares for 5.41% of their US portfolio. Deutsche Bank & Trust Ag holds 0% or 7,100 shares in its portfolio. Soros Fund Limited Com accumulated 0.02% or 171,081 shares. Millennium Management Limited Company holds 0.01% of its portfolio in GSI Technology, Inc. (NASDAQ:GSIT) for 806,798 shares. Northern Trust has 34,570 shares for 0% of their US portfolio. Earnest Prns Ltd Liability holds 2,200 shares or 0% of its portfolio. Fmr Ltd Liability Corporation last reported 61,185 shares in the company.
Insider Transactions: Since November 1, 2016, the stock had 0 insider purchases, and 3 insider sales for $156,103 net activity. Another trade for 90 shares valued at $468 was sold by Yau Robert.
More recent GSI Technology, Inc. (NASDAQ:GSIT) news were published by: Businesswire.com which released: “GigOptix, Inc. Renews Interest in Acquiring GSI Technology, Inc. for $6.50 Per …” on June 04, 2015. Also Wsj.com published the news titled: “GigOptix Offers $154 Million to Buy Chip-Part Maker GSI Technology” on August 19, 2014. Seekingalpha.com‘s news article titled: “Exclusive Interview With GSI Technology Management” with publication date: September 28, 2016 was also an interesting one.
GSIT Company Profile
GSI Technology, Inc., incorporated on October 14, 2000, is a well-known provider of Very Fast static random access memory (SRAM) products and low latency dynamic random access memory (LLDRAM) products. The Firm operates through the design, development and sale of integrated circuits segment. The Company’s products are incorporated primarily in networking and telecommunications equipment, such as routers, switches, area network infrastructure equipment, wireless base stations and network access equipment. It offers products in various categories, including Synchronous SRAM Products, LLDRAM Products and Bandwidth Engine Products.
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