Needham Sticks to Their Hold Rating for GSI Technology

By Carrie Williams

In a report released today, Rajvindra Gill from Needham reiterated a Hold rating on GSI Technology (NASDAQ: GSIT). The company’s shares opened today at $7.22.

According to TipRanks.com, Gill is a top 100 analyst with an average return of 21.9% and a 67.2% success rate. Gill covers the Consumer Goods sector, focusing on stocks such as Everspin Technologies Inc, Smart Global Holdings Inc, and Adesto Technologies Corp.

GSI Technology has an analyst consensus of Hold.

Based on GSI Technology’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $10.69 million and GAAP net loss of $1.51 million. In comparison, last year the company earned revenue of $12.95 million and had a net profit of $260K.

Based on the recent corporate insider activity of 16 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. Last month, Lee-Lean Shu, the President of GSIT bought 20,626 shares for a total of $77,451.

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. designs, develops and markets 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.