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Stock Investors Bid Up Shares of GSI Technology, Up 2.8%

Published on Fri, 06/07/2013 - 10:37
By Adrienne Chilton

GSI Technology (NASDAQ:GSIT) is one of today's notable stocks on the rise, up 2.8% to $5.88. The S&P is currently trading 1.1% higher to 1,640 and the Dow Jones Industrial Average is trading 1.2% higher to 15,225.

GSI Technology Inc. designs, develops and markets high performance SRAM, or static random access memory, integrated circuits, or ICs, for the networking and telecommunications markets.

Potential upside of 36.1% exists for GSI Technology, based on a current level of $5.88 and analysts' average consensus price target of $8.00. The stock should find resistance at its 50-day moving average (MA) of $6.11, as well as support at its 200-day MA of $5.82.

In the past 52 weeks, GSI Technology share prices have been bracketed by a low of $4.04 and a high of $10.20 and are now at $5.88, 46% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has declined 1.3%.

By Adrienne Chilton
achilton@fnno.com