GSI Technology (GSIT)


Market Price (9/21/2026): $5.33 | Market Cap: $199.1 MilSector: Information Technology | Industry: Semiconductors

GSI Technology (GSIT)


Market Price (9/21/2026): $5.33
Market Cap: $199.1 Mil
Sector: Information Technology
Industry: Semiconductors

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -35%

Megatrend and thematic drivers
Megatrends include Artificial Intelligence. Themes include AI Chips, Data Centers & Infrastructure, and Edge AI.

Meaningful short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.47, Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11%

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -21 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -82%

Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.4%

Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 13%

Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -72%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -75%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -12%

High stock price volatility
Vol 12M is 196%

Key risks
GSIT key risks include [1] financial instability and liquidity challenges stemming from ongoing net losses and [2] a heavy dependence on the uncertain commercial success and market adoption of its Gemini II APU.

0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -35%
1 Megatrend and thematic drivers
Megatrends include Artificial Intelligence. Themes include AI Chips, Data Centers & Infrastructure, and Edge AI.
2 Meaningful short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.47, Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11%
3 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -21 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -82%
4 Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.4%
5 Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 13%
6 Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -72%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -75%
7 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -12%
8 High stock price volatility
Vol 12M is 196%
9 Key risks
GSIT key risks include [1] financial instability and liquidity challenges stemming from ongoing net losses and [2] a heavy dependence on the uncertain commercial success and market adoption of its Gemini II APU.

GSIT in ETFs

Weight = GSIT's share of each fund

VTI0.00%
IWM0.01%
IWN0.31%
IWO0.01%
VTWO0.01%
DFAS0.00%

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 9/18/2026

GSI Technology (GSIT) stock has lost about 45% since 5/31/2026 because of the following key factors:

1. Widening Net Loss and Increased R&D Expenses: GSI Technology reported a significant widening of its net loss to $4.8 million, or $(0.13) per diluted share, for fiscal Q1 2027 (ended June 30, 2026), compared to a net loss of $2.2 million, or $(0.08) per diluted share, in fiscal Q1 2026. This exacerbated loss was primarily driven by a substantial increase in operating expenses, particularly research and development (R&D) costs, which rose by $2.8 million year-over-year to $5.9 million due to ongoing development of its Gemini-II software and Plato chip. The market noted this as a key factor in the stock's decline, as investors weighed technology progress against these increasing losses.

2. Limited Commercialization Progress for New AI Products: Despite technical advancements, including Gemini-II being declared production-ready and successful radiation testing, and securing small contracts like a ~$2 million U.S. Army SBIR award and a Phase I smart city project, the company's new Associative Processing Unit (APU) based AI products have not yet achieved substantial commercialization or revenue generation. Analysts and investors remain on the sidelines, awaiting evidence of scalable growth and larger, more definitive contracts to demonstrate the commercial viability and profitability of these new initiatives beyond proof-of-concepts.

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Updated on 9/18/2026

GSI Technology (GSIT) stock has lost about 45% since 5/31/2026 because of the following key factors:

1. Widening Net Loss and Increased R&D Expenses: GSI Technology reported a significant widening of its net loss to $4.8 million, or $(0.13) per diluted share, for fiscal Q1 2027 (ended June 30, 2026), compared to a net loss of $2.2 million, or $(0.08) per diluted share, in fiscal Q1 2026. This exacerbated loss was primarily driven by a substantial increase in operating expenses, particularly research and development (R&D) costs, which rose by $2.8 million year-over-year to $5.9 million due to ongoing development of its Gemini-II software and Plato chip. The market noted this as a key factor in the stock's decline, as investors weighed technology progress against these increasing losses.

2. Limited Commercialization Progress for New AI Products: Despite technical advancements, including Gemini-II being declared production-ready and successful radiation testing, and securing small contracts like a ~$2 million U.S. Army SBIR award and a Phase I smart city project, the company's new Associative Processing Unit (APU) based AI products have not yet achieved substantial commercialization or revenue generation. Analysts and investors remain on the sidelines, awaiting evidence of scalable growth and larger, more definitive contracts to demonstrate the commercial viability and profitability of these new initiatives beyond proof-of-concepts.

3. Flat Revenue Performance and Subdued Guidance: GSI Technology's net revenues for fiscal Q1 2027 were $6.3 million, which remained largely flat both sequentially and year-over-year, and fell short of the consensus estimate of $7.30 million. Furthermore, the company's revenue guidance for fiscal Q2 2027 was projected to be between $5.7 million and $6.5 million, with the midpoint below the prior quarter's revenue. This lack of top-line growth and the modest near-term outlook contributed to investor concerns regarding the company's ability to translate its technological advancements into accelerated financial performance.

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Stock Movement Drivers

Fundamental Drivers

The -46.4% change in GSIT stock from 5/31/2026 to 9/20/2026 was primarily driven by a -43.1% change in the company's P/S Multiple.
(LTM values as of)53120269202026Change
Stock Price ($)9.935.32-46.4%
Change Contribution By: 
Total Revenues ($ Mil)25251.9%
P/S Multiple13.97.9-43.1%
Shares Outstanding (Mil)3537-7.6%
Cumulative Contribution-46.4%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2026 to 9/20/2026
ReturnCorrelation
GSIT-46.4% 
Market (SPY)0.9%66.5%
Sector (XLK)-0.7%82.1%

Fundamental Drivers

The -34.8% change in GSIT stock from 2/28/2026 to 9/20/2026 was primarily driven by a -30.8% change in the company's P/S Multiple.
(LTM values as of)22820269202026Change
Stock Price ($)8.165.32-34.8%
Change Contribution By: 
Total Revenues ($ Mil)25251.9%
P/S Multiple11.47.9-30.8%
Shares Outstanding (Mil)3537-7.6%
Cumulative Contribution-34.8%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 9/20/2026
ReturnCorrelation
GSIT-34.8% 
Market (SPY)11.6%56.7%
Sector (XLK)36.8%64.2%

Fundamental Drivers

The 81.0% change in GSIT stock from 8/31/2025 to 9/20/2026 was primarily driven by a 120.5% change in the company's P/S Multiple.
(LTM values as of)83120259202026Change
Stock Price ($)2.945.3281.0%
Change Contribution By: 
Total Revenues ($ Mil)222513.7%
P/S Multiple3.67.9120.5%
Shares Outstanding (Mil)2737-27.8%
Cumulative Contribution81.0%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2025 to 9/20/2026
ReturnCorrelation
GSIT81.0% 
Market (SPY)19.4%31.7%
Sector (XLK)45.1%33.2%

Fundamental Drivers

The 71.1% change in GSIT stock from 8/31/2023 to 9/20/2026 was primarily driven by a 169.4% change in the company's P/S Multiple.
(LTM values as of)83120239202026Change
Stock Price ($)3.115.3271.1%
Change Contribution By: 
Total Revenues ($ Mil)2625-4.6%
P/S Multiple2.97.9169.4%
Shares Outstanding (Mil)2537-33.4%
Cumulative Contribution71.1%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2023 to 9/20/2026
ReturnCorrelation
GSIT71.1% 
Market (SPY)75.6%25.5%
Sector (XLK)119.9%28.1%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
GSIT Return-37%-63%53%15%105%-16%-29%
Peers Return72%-50%119%13%97%134%883%
S&P 500 Return27%-19%24%23%16%12%103%

Monthly Win Rates [3]
GSIT Win Rate33%25%33%58%50%44% 
Peers Win Rate52%37%63%52%58%58% 
S&P 500 Win Rate75%42%67%75%67%44% 

Max Drawdowns [4]
GSIT Max Drawdown-45%-67%-79%-61%-59%-61% 
Peers Max Drawdown-28%-58%-20%-45%-38%-39% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: MRAM, MU, NVDA, INTC, AMD.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/18/2026 (YTD)

How Low Can It Go

EventGSITS&P 500
2025 US Tariff Shock
  % Loss-50.8%-18.8%
  % Gain to Breakeven103.3%23.1%
  Time to Breakeven31 days79 days
2024 Yen Carry Trade Unwind
  % Loss-22.5%-7.8%
  % Gain to Breakeven29.0%8.5%
  Time to Breakeven16 days18 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-59.4%-9.5%
  % Gain to Breakeven146.6%10.5%
  Time to Breakeven156 days24 days
2022 Inflation Shock & Fed Tightening
  % Loss-58.9%-24.5%
  % Gain to Breakeven143.4%32.4%
  Time to Breakeven196 days427 days
2020 COVID-19 Crash
  % Loss-36.0%-33.7%
  % Gain to Breakeven56.2%50.9%
  Time to Breakeven16 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-32.8%-19.2%
  % Gain to Breakeven48.7%23.8%
  Time to Breakeven25 days105 days

Compare to MRAM, MU, NVDA, INTC, AMD

In The Past

GSI Technology's stock fell -50.8% during the 2025 US Tariff Shock. Such a loss loss requires a 103.3% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventGSITS&P 500
2025 US Tariff Shock
  % Loss-50.8%-18.8%
  % Gain to Breakeven103.3%23.1%
  Time to Breakeven31 days79 days
2024 Yen Carry Trade Unwind
  % Loss-22.5%-7.8%
  % Gain to Breakeven29.0%8.5%
  Time to Breakeven16 days18 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-59.4%-9.5%
  % Gain to Breakeven146.6%10.5%
  Time to Breakeven156 days24 days
2022 Inflation Shock & Fed Tightening
  % Loss-58.9%-24.5%
  % Gain to Breakeven143.4%32.4%
  Time to Breakeven196 days427 days
2020 COVID-19 Crash
  % Loss-36.0%-33.7%
  % Gain to Breakeven56.2%50.9%
  Time to Breakeven16 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-32.8%-19.2%
  % Gain to Breakeven48.7%23.8%
  Time to Breakeven25 days105 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-33.3%-12.2%
  % Gain to Breakeven50.0%13.9%
  Time to Breakeven191 days62 days
2014-2016 Oil Price Collapse
  % Loss-41.0%-6.8%
  % Gain to Breakeven69.5%7.3%
  Time to Breakeven330 days15 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-32.4%-17.9%
  % Gain to Breakeven47.9%21.8%
  Time to Breakeven646 days123 days
Summer 2007 Credit Crunch
  % Loss-46.8%-8.6%
  % Gain to Breakeven87.9%9.5%
  Time to Breakeven804 days47 days

Compare to MRAM, MU, NVDA, INTC, AMD

In The Past

GSI Technology's stock fell -50.8% during the 2025 US Tariff Shock. Such a loss loss requires a 103.3% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About GSI Technology (GSIT)

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GSI Technology (GSIT) is a fabless semiconductor company that specializes in designing, developing, and marketing high-performance semiconductor memory solutions. As a "fabless" entity, the company focuses on the intellectual property and design aspects of its chips, relying on external partners for manufacturing. Its core business revolves around providing specialized memory components that are crucial for enabling advanced functionalities in a wide array of electronic systems.

The company's main product line consists of various types of Static Random Access Memory (SRAM) products. These include SyncBurst SRAMs for microprocessor cache and general applications, No Bus Turnaround SRAMs tailored for networking and telecom infrastructure, and high-density SigmaQuad and SigmaDDR products optimized for demanding networking and telecom requirements. GSI Technology also produces highly specialized radiation-hardened and radiation-tolerant SRAMs, essential for critical aerospace and military applications.

GSI Technology serves a diverse global customer base across several key industries. Its memory solutions are integral to networking and telecommunications equipment, including core routers, wireless base stations, and Ethernet switches. Additionally, the company's products are vital for military and aerospace applications such as radar and guidance systems, industrial equipment, professional audio systems, high-speed test and measurement devices, automotive smart cruise control, and medical imaging systems like ultrasound and CAT scan equipment.

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AI Analysis | Feedback

Analogy 1: Think of GSI Technology as the **Micron** for specialized, high-performance SRAM (memory) chips, particularly for demanding applications like satellites, military systems, and high-end industrial equipment.

Analogy 2: A **fabless semiconductor company** (like **NVIDIA**) that focuses solely on designing highly specialized, robust SRAM (memory) for critical aerospace, military, and industrial systems.

AI Analysis | Feedback

  • SyncBurst SRAMs: Semiconductor memory products optimized for microprocessor cache and general purpose applications.
  • No Bus Turnaround SRAMs: Semiconductor memory products specifically designed for networking and telecom applications.
  • SigmaQuad SRAMs: High-density SRAMs engineered for high random transaction rate requirements in networking and telecom.
  • SigmaDDR SRAMs: High-density SRAMs providing high random transaction rates for networking and telecom applications.
  • Radiation-Hardened and Radiation-Tolerant SRAMs: Specialized SRAM products developed for aerospace and military applications in harsh radiation environments.

AI Analysis | Feedback

Based on the provided company description, GSI Technology (GSIT) is a fabless semiconductor company that sells its memory solutions primarily to other companies (B2B model) for integration into their end products. The description does not list specific names of major customer companies or their stock symbols.

However, the company description clearly identifies the following major customer categories and applications where its products are utilized:

  • Networking and Telecommunications: Customers in this sector develop equipment such as core routers, multi-service access routers, universal gateways, enterprise edge routers, service provider edge routers, optical edge routers, fast Ethernet switches, wireless base stations, and network access equipment.
  • Military and Aerospace: Customers include those developing applications such as radar and guidance systems, as well as satellites.
  • Medical: Companies manufacturing medical applications like ultrasound and CAT scan equipment.
  • Industrial and Other Specialized Applications: This broad category encompasses customers in professional audio (sound mixing systems), test and measurement (high-speed testers), and automotive (smart cruise control).

AI Analysis | Feedback

  • Taiwan Semiconductor Manufacturing Company Limited (TSM)
  • Advanced Semiconductor Engineering, Inc. (ASX)
  • King Yuan Electronics Co., Ltd. (2444.TW)
  • Integrated Micro-Electronics, Inc. (IMI)

AI Analysis | Feedback

Lee-Lean Shu, President and Chief Executive Officer

Lee-Lean Shu co-founded GSI Technology in March 1995 and has served as its President and Chief Executive Officer, and as a member of its Board of Directors since inception. In October 2000, he also became Chairman of the Board. Before co-founding GSI Technology, Mr. Shu was Director of SRAM Design at Sony Microelectronics Corporation from January 1995 to March 1995, and a design manager there from July 1990 to January 1995. He holds a B.S. in Electrical Engineering from Tatung Institute of Technology and an M.S. in Electrical Engineering from the University of California, Los Angeles. In 2017, Mr. Shu was named the 40th Annual Inventor of the Year by the Silicon Valley Intellectual Property Law Association (SVIPLA).

Douglas Schirle, Chief Financial Officer and Corporate Secretary

Douglas Schirle has served as GSI Technology's Chief Financial Officer since August 2000. Prior to this role, he was the Corporate Controller for GSI Technology from June 1999 to August 2000. His experience also includes serving as Corporate Controller at Pericom Semiconductor Corporation from March 1997 to June 1999, and as Vice President, Finance (November 1996 to February 1997) and Controller (December 1993 to October 1996) for Paradigm Technology. Mr. Schirle was formerly a certified public accountant.

Didier Lasserre, Vice President, Sales

Didier Lasserre has been GSI Technology's Vice President, Sales since July 2002. Before this, he served as the company's Director of Sales for the Western United States and Europe from November 1997 to July 2002. His prior experience includes working as an account manager at Solectron Corporation from July 1996 to October 1997, and as a field sales engineer at Cypress Semiconductor from June 1988 to July 1996.

Bor-Tay Wu, Vice President, Taiwan Operations

Bor-Tay Wu has served as GSI Technology's Vice President, Taiwan Operations since January 1997. From January 1995 to December 1996, he held the position of design manager at Atalent, an IC design company based in Taiwan.

Ping Wu, Vice President, U.S. Operations

Ping Wu has served as GSI Technology's Vice President, U.S. Operations since September 2006, a role he also held from February 2004 to April 2006. Between these periods, from April 2006 to August 2006, he was Vice President of Operations at QPixel Technology. Earlier in his career at GSI Technology, he was Director of Operations from July 1999 to January 2004. From July 1997 to June 1999, Mr. Wu served as Vice President of Operations at Scan Vision, a semiconductor manufacturer.

AI Analysis | Feedback

The following are the key risks to GSI Technology (GSIT):
  • Securities Class-Action Lawsuit: GSI Technology is currently under investigation by a global investor rights firm concerning allegations that the company may have issued materially misleading business information. This probe, announced on February 28, 2026, could lead to a securities class-action lawsuit, potentially exposing the company to substantial legal costs and financial penalties. Such litigation could also significantly erode investor confidence, which might negatively impact the company's stock price and corporate reputation.
  • Strategic Transition and Persistent Unprofitability: GSI Technology is in a deep strategic transition, shifting from its legacy Very Fast SRAM products to next-generation Associative Processing Units (APUs) such as Gemini-II and Plato. This pivotal shift, while crucial for the company's future, carries clear near-term financial and operational risks. The company has been operating at a loss, reporting a net loss of ($10.6) million for the fiscal year ended March 31, 2025. Furthermore, revenue has experienced a significant contraction over several years, and persistent profitability struggles and cash burn remain a concern. The success of this transition and the monetization of its APU products are critical, but the company faces execution challenges in this new technology paradigm.
  • Customer Concentration: GSI Technology faces risks associated with customer concentration. For instance, Nokia was identified as the company's largest customer in fiscal years 2020, 2021, and 2022. A significant portion of the company's net revenues has also come from direct sales to contract manufacturers and consignment warehouses, as well as foreign and domestic distributors.

AI Analysis | Feedback

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AI Analysis | Feedback

GSI Technology (GSIT) primarily designs, develops, and markets semiconductor memory solutions, with a focus on various types of Static Random Access Memory (SRAM) products, including radiation-hardened and radiation-tolerant SRAMs. These products cater to networking, industrial, medical, aerospace, and military sectors.

Addressable Market Sizes for GSI Technology's Main Products:

  • Global Static Random Access Memory (SRAM) Market: The global SRAM market was valued at approximately USD 712.3 million in 2025 and is projected to reach USD 1.18 billion by 2035, growing at a compound annual growth rate (CAGR) of 5.2% during the forecast period. Another estimate places the global SRAM market at USD 718 million in 2025, expected to reach USD 1.16 billion in 2035, with a CAGR of 4.9%.
  • Global Radiation Hardened Static Random Access Memory (SRAM) Market: This more specialized segment, directly relevant to GSI Technology's offerings for aerospace and military applications, was estimated to be worth US$ 335 million in 2025 and is projected to reach US$ 555 million by 2032, growing at a CAGR of 7.6% from 2026 to 2032.
  • Global Radiation Tolerant Memory Market: A broader category encompassing radiation-hardened SRAM, this market was valued at USD 818 million in 2024 and is projected to reach USD 1.14 billion by 2034, exhibiting a CAGR of 5.0%.
  • Global Radiation Hardened Electronics Market: GSI Technology's radiation-hardened SRAMs are a component within this larger market. This market size was valued at USD 1.81 billion in 2024 and is expected to grow at a CAGR of 6.5% during 2025–2034. Memory is identified as a component within this market. North America accounted for 41.54% of this market in 2024.
  • Global Memory for Military and Aerospace Applications: The global market for memory and processors for military and aerospace applications was valued at USD 6.97 billion in 2024 and is projected to reach USD 16.67 billion by 2031, with a robust CAGR of 11.50%. The non-volatile memory segment, which includes SRAM, held a 41% share of this market in 2024. The memory segment is also expected to hold the largest share of the global semiconductor in military and aerospace market, which is projected to grow from USD 6.02 billion in 2023 to USD 15.01 billion by 2033.

AI Analysis | Feedback

Here are the expected drivers of future revenue growth for GSI Technology (GSIT) over the next 2-3 years:

  1. Increased demand for SRAM products driven by AI and HPC applications: GSI Technology anticipates continued strong momentum in its Static Random Access Memory (SRAM) chip business. This growth is fueled by the expanding needs of artificial intelligence (AI) workloads, including generative AI and large model training, which require high-performance memory solutions. The company has observed consistent quarterly growth in SRAM sales, supported by orders from key industry players.
  2. Commercialization and adoption of the Gemini-II Associative Processing Unit (APU) in Edge AI markets: The Gemini-II APU is a significant anticipated driver for future revenue. This next-generation product is designed for high-growth AI and high-performance computing (HPC) markets, particularly at the edge. GSI Technology has completed successful evaluations and pilot shipments of the Gemini-II chip, with third-party studies validating its performance and energy efficiency for AI applications.
  3. Expansion into defense and aerospace sectors with APU and specialized SRAM products: GSI Technology is strategically focusing on high-growth AI edge processor markets, including defense systems, drones, robotics, and mobile platforms. The company is leveraging its unique APU architecture, which offers advantages in power efficiency and performance for these applications. This strategy includes establishing proof-of-concept engagements with government entities and offshore defense contractors.
  4. Development and future launch of the Plato chip: The planned Plato chip represents another new product driver for GSI Technology. The company is actively investing in the development of this next-generation product, acquiring necessary intellectual property and building its software team to accelerate its time to market. The Plato chip is also targeting high-growth areas within edge AI and defense applications.

AI Analysis | Feedback

Share Repurchases

No significant share repurchases have been made or authorized by GSI Technology over the last 3-5 years.

Share Issuance

  • GSI Technology's cash reserves increased significantly due to a direct offering in October 2025.
  • Insiders have been involved in share issuances and sales through option exercises, including a filing to sell 40,000 shares via option exercise on March 13, 2026, and an SVP exercising options and selling 20,000 shares on March 2, 2026.
  • Shareholders have experienced substantial dilution over the past year.

Inbound Investments

  • A direct offering in October 2025 bolstered the company's cash reserves, increasing them from $13.4 million in March 2025 to $70.7 million.
  • The Galloway group acquired a 5.02% stake in GSI Technology, which included 1,048,450 shares of common stock and 770,500 shares underlying call options, between April 2025 and February 2026.

Capital Expenditures

  • Capital expenditures in the most recent quarter (Q4 2025) totaled -$0.296 million USD.
  • GSI Technology's cash from investing activities ranged from a high of $11.3 million in Q2 2024 to a low of -$2.8 million during Q4 2021, with Q4 2025 at -$296,000.
  • Capital expenditures are primarily focused on the development and commercialization of new technologies such as the Gemini-I and Gemini-II Associative Processing Units (APUs) and radiation-hardened memory products.

Better Bets vs. GSI Technology (GSIT)

Peer Outperformance in Semiconductors

GSIT has trailed 61% of its 54 Semiconductors peers over 5Y. Among the peers that beat it are INTC, AMKR and LSCC. Semiconductors ranks 7th of 12 industries in Information Technology by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Semiconductors constituents that GSIT has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
64%
of 64 industry peers · 45.4% return
3Y
66%
of 58 industry peers · 92.1% return
5Y
39%
of 54 industry peers · -4.3% return
Semiconductors peers with revenue growth within 4pp of GSIT's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
Ticker Name Rev Growth 3Y Avg P/E 1Y3Y5Y 5Y Gap
GSIT GSI Technology -0.4% -12.6x 45.4%92.1%-4.3%
INTC Intel 1.9% -49.1x 267.1%218.7%123.0% +127pp
AMKR Amkor Technology 3.1% 22.5x 78.9%137.1%110.4% +115pp
LSCC Lattice Semiconductor -0.7% 418.6x 53.8%33.9%71.0% +75pp
TXN Texas Instruments 1.9% 40.2x 52.5%81.1%59.2% +64pp
SLAB Silicon Laboratories 1.5% -187.2x 60.7%92.5%56.4% +61pp
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Information Technology sector, ranked by 5Y. Semiconductors is GSIT's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Electronic Manufacturing Services 9 54.5%185.9%278.9% TTMI 845% · FLEX 734% · SANM 435%
Technology Distributors 9 30.1%72.9%99.7% CLMB 337% · AVT 199% · SNX 156%
Semiconductor Materials & Equipment 26 90.9%83.7%97.5% AXTI 792% · AEHR 738% · KLAC 421%
Communications Equipment 36 16.3%86.8%75.8% AAOI 1451% · FEIM 1030% · LITE 1005%
Electronic Components 26 31.5%70.6%70.4% CLS 4032% · BELFA 1349% · COHR 435%
Technology Hardware, Storage & Peripherals 20 31.9%90.0%47.2% DELL 1150% · STX 1112% · WDC 969%
Semiconductors ← 55 23.7%33.9%40.8% POET 1815% · MU 1344% · NVDA 951%
Internet Services & Infrastructure 6 7.5%49.3%33.5% DOCN 64% · VRSN 44% · GDDY 38%
Electronic Equipment & Instruments 26 -16.0%9.2%-10.0% PI 225% · OSIS 117% · ACFN 108%
IT Consulting & Other Services 28 -24.6%-9.9%-29.0% CHRN 537268% · APLD 1265% · TSSI 669%
Application Software 123 -30.5%-13.3%-45.3% VIDA 176264% · INLX 5435% · PLTR 567%
Systems Software 68 -19.6%12.4%-54.0% QNC 478% · ZETA 406% · PANW 361%
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

Latest Trefis Analyses

Title
0ARTICLES

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

GSITMRAMMUNVDAINTCAMDMedian
NameGSI Tech.Everspin.Micron T.NVIDIA Intel Advanced. 
Mkt Price5.3215.281,015.80222.27108.60559.82165.44
Mkt Cap0.20.41,145.85,376.7554.3913.6734.0
Rev LTM256290,274302,96957,03241,30549,168
Op Inc LTM-21-1059,282197,5794,3086,4885,398
FCF LTM-19-726,172127,0062,8318,4035,617
FCF 3Y Avg-1628,89281,938-6,8994,6012,301
CFO LTM-18451,432134,36014,93610,08012,508
CFO 3Y Avg-15823,99486,68612,1785,6248,901

Growth & Margins

GSITMRAMMUNVDAINTCAMDMedian
NameGSI Tech.Everspin.Micron T.NVIDIA Intel Advanced. 
Rev Chg LTM13.7%20.9%167.0%83.4%7.5%39.5%30.2%
Rev Chg 3Y Avg-0.4%1.4%80.9%116.5%1.9%24.4%13.1%
Rev Chg Q0.5%41.9%345.7%105.9%25.4%50.1%46.0%
QoQ Delta Rev Chg LTM0.1%9.7%55.3%19.5%6.1%10.3%10.0%
Op Inc Chg LTM-46.2%-28.4%676.0%105.9%198.0%164.5%135.2%
Op Inc Chg 3Y Avg-11.5%-1,790.5%437.5%206.3%-214.9%225.5%97.4%
Op Mgn LTM-82.2%-15.5%65.7%65.2%7.6%15.7%11.6%
Op Mgn 3Y Avg-80.6%-10.0%27.0%61.7%0.1%9.2%4.7%
QoQ Delta Op Mgn LTM-12.7%-2.7%17.3%1.2%5.6%4.1%2.6%
CFO/Rev LTM-71.8%6.8%57.0%44.3%26.2%24.4%25.3%
CFO/Rev 3Y Avg-68.2%14.2%42.3%47.2%22.0%16.4%19.2%
FCF/Rev LTM-75.1%-11.5%29.0%41.9%5.0%20.3%12.7%
FCF/Rev 3Y Avg-69.5%3.5%9.4%44.7%-12.8%13.3%6.4%

Valuation

GSITMRAMMUNVDAINTCAMDMedian
NameGSI Tech.Everspin.Micron T.NVIDIA Intel Advanced. 
Mkt Cap0.20.41,145.85,376.7554.3913.6734.0
P/S7.95.812.717.79.722.111.2
P/Op Inc-9.6-37.619.327.2128.7140.823.3
P/EBIT-9.6-37.619.323.4-63.7118.84.9
P/E-12.6-138.522.727.9-49.1142.05.1
P/CFO-11.086.222.340.037.190.638.6
Total Yield-8.0%-0.7%4.5%3.7%-2.0%0.7%-0.0%
Dividend Yield0.0%0.0%0.0%0.1%0.0%0.0%0.0%
FCF Yield 3Y Avg-14.9%2.5%0.8%2.0%-6.8%1.1%0.9%
D/E0.00.00.00.00.10.00.0
Net D/E-0.3-0.1-0.0-0.00.0-0.0-0.0

Returns

GSITMRAMMUNVDAINTCAMDMedian
NameGSI Tech.Everspin.Micron T.NVIDIA Intel Advanced. 
1M Rtn-11.2%-10.7%5.1%3.6%20.6%18.3%4.4%
3M Rtn-29.8%-43.6%-10.4%5.6%-18.9%4.2%-14.7%
6M Rtn-8.7%74.6%140.3%29.0%147.5%178.1%107.5%
12M Rtn45.4%92.2%525.2%26.1%267.1%255.7%173.9%
3Y Rtn92.1%66.1%1,412.7%443.5%218.7%482.5%331.1%
1M Excs Rtn-10.1%-11.6%9.1%3.0%17.8%20.8%6.1%
3M Excs Rtn-31.8%-45.6%-12.4%3.6%-20.9%2.2%-16.7%
6M Excs Rtn-30.4%45.9%113.0%9.0%119.4%156.9%79.4%
12M Excs Rtn40.1%78.5%520.0%14.9%320.2%235.8%157.2%
3Y Excs Rtn32.6%-13.9%1,278.5%318.9%114.0%348.5%216.4%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20262025202420232022
Static random access memory (SRAM) products25202229 
Design, development and sale of integrated circuits    33
Total2520222933


Price Behavior

Price Behavior
Market Price$5.32 
Market Cap ($ Bil)0.2 
First Trading Date03/29/2007 
Distance from 52W High-59.0% 
   50 Days200 Days
DMA Price$5.88$7.00
DMA Trenddowndown
Distance from DMA-9.5%-24.0%
 3M1YR
Volatility81.0%196.7%
Downside Capture519.83487.15
Upside Capture283.84457.50
Correlation (SPY)59.7%31.7%
GSIT Betas & Captures as of 8/31/2026

 1M2M3M6M1Y3Y
Beta5.684.844.544.974.882.33
Up Beta8.098.425.483.664.972.19
Down Beta3.592.083.454.533.881.35
Up Capture380%284%394%1226%4017%8786%
Bmk +ve Days10213268138427
Stock +ve Days10192761122340
Down Capture575%473%396%299%196%113%
Bmk -ve Days11213259113324
Stock -ve Days11233765126390

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with GSIT
GSIT56.3%195.7%0.87-
Sector ETF (XLK)40.5%26.4%1.2533.4%
Equity (SPY)16.9%12.9%0.9431.7%
Gold (GLD)19.1%29.3%0.6025.3%
Commodities (DBC)46.3%20.6%1.733.5%
Real Estate (VNQ)4.9%13.6%0.107.6%
Bitcoin (BTCUSD)-30.6%44.3%-0.7024.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with GSIT
GSIT-4.0%151.8%0.46-
Sector ETF (XLK)20.2%25.9%0.6919.8%
Equity (SPY)12.9%17.2%0.5717.6%
Gold (GLD)19.1%18.8%0.8313.2%
Commodities (DBC)11.2%19.5%0.452.7%
Real Estate (VNQ)1.1%18.8%-0.059.1%
Bitcoin (BTCUSD)12.5%52.5%0.4211.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with GSIT
GSIT-0.7%112.4%0.36-
Sector ETF (XLK)24.4%25.0%0.8820.3%
Equity (SPY)15.1%18.0%0.7219.0%
Gold (GLD)12.1%16.4%0.6111.6%
Commodities (DBC)8.3%18.1%0.375.5%
Real Estate (VNQ)4.4%20.7%0.1812.1%
Bitcoin (BTCUSD)62.6%66.2%1.027.8%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date8312026
Short Interest: Shares Quantity4.2 Mil
Short Interest: % Change Since 8152026-2.5%
Average Daily Volume0.4 Mil
Days-to-Cover Short Interest10.5 days
Basic Shares Quantity37.3 Mil
Short % of Basic Shares11.4%

Earnings Returns History

Updated 9/2/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/30/2026-3.9%13.5%-2.4%
5/7/20263.8%33.4%-1.5%
1/29/2026-4.3%-19.1%15.3%
10/30/2025-17.8%-24.2%-44.7%
7/31/2025-13.8%-23.9%-32.4%
5/1/20256.7%10.5%0.2%
1/30/2025-4.1%7.9%-8.9%
10/24/2024-1.2%-7.3%-7.0%
...
SUMMARY STATS   
# Positive6810
# Negative181614
Median Positive1.6%9.2%10.9%
Median Negative-5.2%-7.4%-8.1%
Max Positive6.7%33.4%112.0%
Max Negative-19.8%-24.2%-44.7%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/30/2026-3.9%13.5%-2.4%
5/7/20263.8%33.4%-1.5%
1/29/2026-4.3%-19.1%15.3%
10/30/2025-17.8%-24.2%-44.7%
7/31/2025-13.8%-23.9%-32.4%
5/1/20256.7%10.5%0.2%
1/30/2025-4.1%7.9%-8.9%
10/24/2024-1.2%-7.3%-7.0%
7/25/20240.4%-6.3%-7.0%
5/2/2024-19.8%-16.3%-30.4%
1/25/2024-14.9%-5.4%21.3%
10/26/2023-18.3%-3.3%14.1%
7/27/2023-9.1%-14.9%-32.9%
5/16/20230.7%31.9%112.0%
1/26/2023-1.5%1.0%-16.0%
10/27/2022-5.5%-7.5%8.0%
7/28/20220.7%-1.0%-14.0%
5/5/2022-3.8%-17.3%13.5%
1/27/2022-1.6%3.2%-7.3%
10/28/2021-4.9%6.4%2.2%
7/29/20212.4%-2.1%8.4%
5/6/2021-1.7%-3.2%-2.0%
1/28/2021-6.8%-5.6%-0.4%
10/29/2020-7.7%-13.9%0.3%
SUMMARY STATS   
# Positive6810
# Negative181614
Median Positive1.6%9.2%10.9%
Median Negative-5.2%-7.4%-8.1%
Max Positive6.7%33.4%112.0%
Max Negative-19.8%-24.2%-44.7%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/11/202610-Q
03/31/202606/05/202610-K
12/31/202502/06/202610-Q
09/30/202511/07/202510-Q
06/30/202508/08/202510-Q
03/31/202506/18/202510-K
12/31/202402/10/202510-Q
09/30/202411/01/202410-Q
06/30/202408/02/202410-Q
03/31/202406/13/202410-K
12/31/202302/02/202410-Q
09/30/202311/08/202310-Q
06/30/202308/08/202310-Q
03/31/202306/28/202310-K
12/31/202202/14/202310-Q
09/30/202211/04/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/11/202610-Q
03/31/202606/05/202610-K
12/31/202502/06/202610-Q
09/30/202511/07/202510-Q
06/30/202508/08/202510-Q
03/31/202506/18/202510-K
12/31/202402/10/202510-Q
09/30/202411/01/202410-Q
06/30/202408/02/202410-Q
03/31/202406/13/202410-K
12/31/202302/02/202410-Q
09/30/202311/08/202310-Q
06/30/202308/08/202310-Q
03/31/202306/28/202310-K
12/31/202202/14/202310-Q
09/30/202211/04/202210-Q
06/30/202208/05/202210-Q
03/31/202206/29/202210-K
12/31/202102/04/202210-Q
09/30/202111/05/202110-Q
06/30/202108/06/202110-Q
03/31/202106/04/202110-K
12/31/202002/05/202110-Q
09/30/202011/05/202010-Q
06/30/202008/10/202010-Q
03/31/202006/05/202010-K
12/31/201902/07/202010-Q
09/30/201911/05/201910-Q

Recent Forward Guidance

Updated 7/31/2026

Latest: Q1 2027 Earnings Reported 7/30/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q2 2027 RevenueReported5.70 Mil6.10 Mil6.50 Mil-3.2% Lower NewGuidance: 6.30 Mil for Q1 2027
Q2 2027 Gross ProfitCalculated3.02 Mil3.29 Mil3.58 Mil  Rev x Gross Margin
Q2 2027 Gross MarginReported53.0%54.0%55.0% -1.0%Lower NewGuidance: 55.0% for Q1 2027


Prior: Q4 2026 Earnings Reported 5/7/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q1 2027 RevenueReported5.90 Mil6.30 Mil6.70 Mil3.3% Higher NewGuidance: 6.10 Mil for Q4 2026
Q1 2027 Gross ProfitCalculated3.19 Mil3.47 Mil3.75 Mil  Rev x Gross Margin
Q1 2027 Gross MarginReported54.0%55.0%56.0% 0Same NewGuidance: 55.0% for Q4 2026

Q3 2026 Earnings Reported 1/29/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q4 2026 RevenueReported5.70 Mil6.10 Mil6.50 Mil-4.7% Lower NewActual: 6.40 Mil for Q3 2026
Q4 2026 Gross ProfitCalculated3.08 Mil3.36 Mil3.64 Mil  Rev x Gross Margin
Q4 2026 Gross MarginReported54.0%55.0%56.0% 0Same NewActual: 55.0% for Q3 2026
2026 Government FundingReported 1.00 Mil    

Q2 2026 Earnings Reported 10/30/2025

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q3 2026 RevenueReported6.00 Mil6.40 Mil6.80 Mil1.6% Higher NewGuidance: 6.30 Mil for Q2 2026
Q3 2026 Gross ProfitCalculated3.24 Mil3.52 Mil3.81 Mil  Rev x Gross Margin
Q3 2026 Gross MarginReported54.0%55.0%56.0% -2.0%Lower NewGuidance: 57.0% for Q2 2026

Insider Activity

Updated 9/10/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Chuang, Patrick TSenior VP, Memory DesignDirectSell603202610.9840,000439,064166,471Form
2Chuang, Patrick TSenior VP, Memory DesignDirectSell603202611.3140,000452,584171,597Form
3Wu, Bor-TayVP, Taiwan OperationsDirectSell603202610.9320,000218,6589,976,271Form
4Wu, Ping TakVP, U.S. OperationsDirectSell527202611.0130,000330,3961,634,810Form
5Wu, Bor-TayVP, Taiwan OperationsDirectSell526202610.9340,000437,3589,977,229Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Chuang, Patrick TSenior VP, Memory DesignDirectSell603202610.9840,000439,064166,471Form
2Chuang, Patrick TSenior VP, Memory DesignDirectSell603202611.3140,000452,584171,597Form
3Wu, Bor-TayVP, Taiwan OperationsDirectSell603202610.9320,000218,6589,976,271Form
4Wu, Ping TakVP, U.S. OperationsDirectSell527202611.0130,000330,3961,634,810Form
5Wu, Bor-TayVP, Taiwan OperationsDirectSell526202610.9340,000437,3589,977,229Form
6Lasserre, DidierVP, SalesDirectSell52220269.3130,000279,1802,893,301Form
7Schirle, DouglasCFODirectSell514202611.3240,000452,928781,822Form
8Shu, Lee-LeanPres., CEO and ChairmanSpouseSell514202612.5110,313128,9776,640,082Form
9Wu, Ping TakVP, U.S. OperationsDirectSell514202610.8011,763127,0401,594,588Form
10Shu, Lee-LeanPres., CEO and ChairmanDirectSell512202611.54132,7491,531,78822,875,066Form
11Shu, Lee-LeanPres., CEO and ChairmanSpouseSell512202610.5110,313108,4205,581,709Form
12Shu, Lee-LeanPres., CEO and ChairmanDirectSell317202610.0136,517365,59419,847,166Form
13Shu, Lee-LeanPres., CEO and ChairmanDirectSell317202610.0230,734308,03519,868,973Form
14Chuang, Patrick TSenior VP, Memory DesignDirectSell31620268.5640,000342,440129,836Form
15Wu, Bor-TayVP, Taiwan OperationsDirectSell31020268.6640,000346,5447,905,535Form
16Chuang, Patrick TSenior VP, Memory DesignDirectSell30220268.3720,000167,310126,871Form
17Chuang, Patrick TSenior VP, Memory DesignDirectSell110620258.6640,000346,552131,395Form
18Akerib, AvidanVP, Associative ComputingDirectSell110520258.5454,732467,510199,084Form
19Akerib, AvidanVP, Associative ComputingDirectSell110520259.05135,2861,223,824210,840Form
20Chuang, Patrick TSenior VP, Memory DesignDirectSell110420259.0440,000361,600137,101Form
Core Cache Last Updated: 9/20/2026