The stock of GSI Technology, Inc. (NASDAQ:GSIT) gapped up by $0.01 today and has $6.41 target or 31.00% above today’s $4.89 share price. The 5 months technical chart setup indicates low risk for the $102.02M company. The gap was reported on Oct, 4 by Barchart.com. If the $6.41 price target is reached, the company will be worth $31.63M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 3.38% or $0.16 on October 3, hitting $4.89. About 95,575 shares traded hands or 268.35% up from the average. GSI Technology, Inc. (NASDAQ:GSIT) has risen 24.37% since March 1, 2016 and is uptrending. It has outperformed by 12.15% the S&P500.
Analysts await GSI Technology, Inc. (NASDAQ:GSIT) to report earnings on November, 3.
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 decreased to 0.71 in Q2 2016. Its down 0.44, from 1.15 in 2016Q1. The ratio dropped, 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.
Central Square Ltd Liability Corp has 0.43% invested in the company for 72,303 shares. The Texas-based Bridgeway Capital Mgmt has invested 0.01% in GSI Technology, Inc. (NASDAQ:GSIT). Moreover, California Public Employees Retirement has 0% invested in GSI Technology, Inc. (NASDAQ:GSIT) for 45,010 shares. Blackrock Fund Advsrs last reported 0% of its portfolio in the stock. Vanguard holds 991,702 shares or 0% of its portfolio. Millennium Mngmt Ltd Liability reported 806,798 shares or 0.01% of all its holdings. Tower Ltd Limited Liability Company (Trc) last reported 0% of its portfolio in the stock. Menta Cap Lc holds 0.03% or 54,425 shares in its portfolio. Rbf Ltd Company has invested 0.03% of its portfolio in GSI Technology, Inc. (NASDAQ:GSIT). Moreover, Walleye Trading Limited Com has 0% invested in GSI Technology, Inc. (NASDAQ:GSIT) for 400 shares. Blackrock Advisors Limited Company accumulated 4,254 shares or 0% of the stock. Financial Bank Of New York Mellon Corporation holds 0% of its portfolio in GSI Technology, Inc. (NASDAQ:GSIT) for 47,336 shares. Connor Clark Lunn Investment Mngmt owns 10,175 shares or 0% of their US portfolio. Blackrock Invest Llc accumulated 0% or 2,405 shares. Renaissance Tech Limited Liability Company last reported 601,700 shares in the company.
More notable recent GSI Technology, Inc. (NASDAQ:GSIT) news were published by: Seekingalpha.com which released: “Exclusive Interview With GSI Technology Management” on September 28, 2016, also Businesswire.com with their article: “GigOptix, Inc. Renews Interest in Acquiring GSI Technology, Inc. for $6.50 Per …” published on June 04, 2015, Wsj.com published: “GigOptix Offers $154 Million to Buy Chip-Part Maker GSI Technology” on August 19, 2014. More interesting news about GSI Technology, Inc. (NASDAQ:GSIT) were released by: Seekingalpha.com and their article: “GSI Technology: Activist Investor Continues Push For A Buyout (GSIT)” published on July 14, 2015 as well as Businesswire.com‘s news article titled: “GSI Technology and MoSys, Inc. Announce Dual-Sourcing Product and Technology …” with publication date: May 19, 2014.
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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