Needham slashes price target on GSI Technology Inc [GSIT] – find out why.

GSI Technology Inc [NASDAQ: GSIT] gained 35.09% on the last trading session, reaching $4.62 price per share at the time. The company report on April 2, 2024 at 8:55 AM that GSI Technology Announces Production Release of Two Gemini-I® APU Servers.

GSI’s true compute-in-memory technology has proven differentiated capabilities in large (billion item) database search and high-performance compute applications, such as facial recognition, drug discovery, Opensearch, and object detection and re-identification. The low 1.2kW full server power of these formidable systems unlocks the potential for the 1U server to be used in mobile or remote applications.

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If compared to the average trading volume of 403.71K shares, GSIT reached a trading volume of 7142381 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about GSI Technology Inc [GSIT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GSIT shares is $8.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GSIT stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Needham have made an estimate for GSI Technology Inc shares, keeping their opinion on the stock as Hold, with their previous recommendation back on October 28, 2011. While these analysts kept the previous recommendation, Robert W. Baird raised their target price from $5 to $6. The new note on the price target was released on April 12, 2010, representing the official price target for GSI Technology Inc stock. Previously, the target price had yet another drop from $5 to $4, while Needham kept a Buy rating on GSIT stock. On December 05, 2008, analysts decreased their price target for GSIT shares from 5 to 3.

The Average True Range (ATR) for GSI Technology Inc is set at 0.50, with the Price to Sales ratio for GSIT stock in the period of the last 12 months amounting to 5.32. The Price to Book ratio for the last quarter was 2.95, with the Price to Cash per share for the same quarter was set at 0.85.

Trading performance analysis for GSIT stock

GSI Technology Inc [GSIT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 26.58. With this latest performance, GSIT shares gained by 28.33% in over the last four-week period, additionally plugging by 70.48% over the last 6 months – not to mention a rise of 212.16% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GSIT stock in for the last two-week period is set at 64.88, with the RSI for the last a single of trading hit 68.82, and the three-weeks RSI is set at 63.01 for GSI Technology Inc [GSIT]. The present Moving Average for the last 50 days of trading for this stock 3.08, while it was recorded at 3.68 for the last single week of trading, and 3.32 for the last 200 days.

GSI Technology Inc [GSIT]: A deeper dive into fundamental analysis

GSI Technology Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.09 and a Current Ratio set at 3.75.

GSI Technology Inc [GSIT]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for GSIT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for GSI Technology Inc go to 10.00%.

An analysis of Institutional ownership at GSI Technology Inc [GSIT]

The top three institutional holders of GSIT stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in GSIT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in GSIT stock with ownership which is approximately 5.8386%.