Needham Remains a Hold on GSI Technology (GSIT)

By Jason Carr

Needham analyst Rajvindra Gill maintained a Hold rating on GSI Technology (GSITResearch Report) today. The company’s shares closed yesterday at $7.98.

Gill wrote:

“In the third quarter of its fiscal 2019, GSIT grew its revenue by 14.8% on a sequential basis due to exceptionally strong SRAM sales to its largest customer. Nokia. GSIT’s fiscal third quarter performance shows how the business can rapidly scale on higher revenue and expanding gross margins. However, the company expects softer performance in F4Q, with revenue set to decline 17.7% Q/ Q. GSIT has shown healthy progress in their Rad-hard products and APU technology, which we believe are key long-term drivers.”

According to TipRanks.com, Gill is a 5-star analyst with an average return of 11.5% and a 57.0% success rate. Gill covers the Consumer Goods sector, focusing on stocks such as Everspin Technologies Inc, Smart Global Holdings Inc, and Adesto Technologies Corp.

The word on The Street in general, suggests a Hold analyst consensus rating for GSI Technology.

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Based on GSI Technology’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $2.26 million. In comparison, last year the company had a GAAP net loss of $1.53 million.

Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of GSIT in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

GSI Technology, Inc. engages in the design and development of high performance memory products for networking, military, medical, automotive and other applications. It offers long product support life cycles, short lead times, the largest high performance memory product portfolio in the market and complete pre and post-sale support.