Revenue Update on GSI Technology(NASDAQ:GSIT)

GSI Technology(NASDAQ:GSIT) announced the earnings results for Fiscal Year 2017 and Q1. The results came in during After-hours on Jul 28, 2016. Company reported revenue of $12.95M. Analysts estimated a revenue of $12.70M. Earnings per share were $0.01. Analysts had estimated an EPS of $-0.03.

GSI Technology (GSIT) shares turned negative on Thursdays trading session with the shares closing down -0.02 points or -0.40% at a volume of 34,113. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $5. The peak price level was also seen at $5 while the days lowest was $4.98. Finally the shares closed at $4.98. The 52-week high of the shares is $5.27 while the 52-week low is $3.33. According to the latest information available, the market cap of the company is $106 M.

Several Insider Transactions has been reported to the SEC. On Feb 19, 2016, Jack A. Bradley (director) purchased 3,000 shares at $3.55 per share price.Also, On Feb 11, 2016, Douglas Schirle (CFO) purchased 5,000 shares at $3.50 per share price.On Feb 10, 2016, Arthur O Whipple (director) purchased 5,000 shares at $3.50 per share price, according to the Form-4 filing with the securities and exchange commission.

GSI Technology Inc. develops and markets memory products including Very Fast static random access memory (SRAM) and low latency dynamic random access memory (LLDRAM). The Company’s products are incorporated primarily in networking and telecommunications equipment such as routers switches wide area network infrastructure equipment wireless base stations and network access equipment. In addition it serves in military industrial test and measurement equipment automotive and medical markets for SRAMs. It sells products to original equipment manufacturer (OEM) customers including Alcatel-Lucent Cisco Systems and Huawei Technologies. It offers products in various categories including Synchronous SRAM Products Asynchronous SRAM Products Low Latency DRAM Products and Bandwidth Engine Products. It utilizes a fabless business model which allows it to focus its resources on research and development product design and marketing and to gain access to process technologies.

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