GSI Technology Inc (NASDAQ:GSIT) director Barbara H. Nelson has sold a total of $27,807 worth of company stock, according to a recent SEC filing. The transactions, which took place over two consecutive days, involved shares sold at prices ranging from $2.8072 to $2.815.
On July 30, Nelson sold 5,706 shares of GSI Technology, with the sales amounting to an average price of $2.815 per share. The following day, on July 31, an additional 4,184 shares were sold at an average price of $2.8072 per share. These sales represent a significant transaction for Nelson, who had also acquired shares on the same days through option exercises.
The price reported for the sales is a weighted average, and the shares were sold in multiple transactions at prices within the stated range. Nelson has made a commitment to provide full information regarding the number of shares sold at each separate price within the range upon request.
In addition to the sales, Nelson acquired shares through option exercises priced at $1.87 per share. On July 30, 5,706 shares were acquired, and on July 31, another 4,184 shares were added to Nelson's holdings, for a total transaction value of $18,494.
These transactions have adjusted Nelson's stake in the company, with all the acquired shares from option exercises being sold immediately. The sale of shares by a company director often attracts the attention of investors, as it may provide insights into the insider's view of the company's current valuation and future prospects.
GSI Technology, based in Sunnyvale, California, is a semiconductor company specializing in high-performance memory solutions for the networking and telecommunications markets.
In other recent news, GSI Technology reported a net revenue of $4.7 million for the first quarter of fiscal 2025, a decrease from the $5.6 million reported in the same quarter of the previous year. The company recorded an operating loss of $4.7 million, which was offset by a one-time gain of $5.7 million from a sale and leaseback transaction. GSI Technology is actively seeking a strategic partner for its Gemini-II software and is exploring potential strategic opportunities with the assistance of Needham & Company.
The company is also preparing for the launch of the GXL platform and is expanding its SBIR proposal pipeline. In addition, GSI Technology is in talks with a major networking telecom customer to incorporate its IP into their ASIC. These developments are part of the company's ongoing efforts to generate new revenue streams and secure additional government funding for Gemini-II development.
It's important to note that these are recent developments and may influence the company's future performance. Investors are advised to keep an eye on the company's progress, particularly its efforts to mitigate its decline in legacy SRAM business and its ongoing discussions with significant industry players.
InvestingPro Insights
As GSI Technology Inc (NASDAQ:GSIT) makes headlines with insider transactions, investors are keen to understand the financial health and market performance of the company. According to InvestingPro data, GSI Technology has a market capitalization of $71.35 million, indicating its size within the semiconductor industry. The company's revenue for the last twelve months as of Q1 2023 stood at $20.85 million, with a notable gross profit margin of 52.35%. Despite these figures, GSI Technology's operating income margin was reported at -100.48%, reflecting significant operational challenges.
InvestingPro Tips reveal that GSI Technology holds more cash than debt, suggesting a stable balance sheet, but it is also quickly burning through cash, which could be a concern for investors. The stock has experienced a considerable decline over the past week, with a 16.57% drop in price total return. Over the last three months, the price has fallen by 29.52%, yet there was a large price uptick of 39.9% over the past six months. It's important to note that the company has not been profitable over the last twelve months and does not pay a dividend to shareholders.
For investors seeking a deeper understanding of GSI Technology's financials and market performance, InvestingPro offers additional insights. There are currently 7 more InvestingPro Tips available at https://www.investing.com/pro/GSIT, which can provide valuable information for making informed investment decisions.
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