Gsi Technology Stock Price, News & Analysis

GSI Technology (Nasdaq: GSIT) announced its participation in the virtual Linley Fall Processor Conference 2020, occurring from October 20-22 and 27-29. Bob Haig and Dan Ilan will present on October 29 at 10:10 a.m. PT, discussing how Associative Processing Units (APUs) challenge traditional Von Neumann Architecture for better latency and energy efficiency. The conference highlights soaring industry demand for AI performance, despite pandemic challenges. Attendees can schedule one-on-ones with GSI and view live demonstrations of their Gemini APU technology.

GSI Technology, Inc. (Nasdaq: GSIT), a leader in high-performance memory solutions, announced that its CFO, Douglas Schirle, and VP of Sales, Didier Lasserre, will host one-on-one meetings at the Jefferies Virtual Semiconductor, IT Hardware & Communications Infrastructure Summit on September 1, 2020. This virtual event allows interested parties to connect with the GSI team by contacting their Jefferies representative to secure a meeting slot. GSI specializes in semiconductor memory for various markets, including AI applications through its Gemini® APU.

GSI Technology, Inc. (Nasdaq: GSIT), a provider of high-performance memory solutions, will participate in the LD 500 investor conference on September 3, 2020. Douglas Schirle, CFO, and Didier Lasserre, VP of Sales and Investor Relations, will present at 8:20 a.m. PDT and conduct one-on-one meetings. The conference runs from September 1-4, 2020, and interested participants can register online. GSI aims to leverage its advanced products, including the Gemini® APU for AI applications, to enhance its market positioning.

GSI Technology, Inc. (Nasdaq: GSIT) has published a white paper detailing its collaboration with the Weizmann Institute to aid in COVID-19 treatment research. Utilizing GSI's Gemini APU, the Weizmann scientists can execute rapid similarity structure searches on a database of 40 million compounds to identify potential antiviral treatments. The Gemini APU significantly reduces response times from minutes to seconds compared to traditional CPUs. This partnership aims to discover active compounds that may be beneficial in treating COVID-19, particularly similar to the antiviral, Remdesivir.

GSI Technology, Inc. (NASDAQ: GSIT) reported disappointing financial results for Q1 fiscal 2021, ending June 30, 2020. Net revenues totaled $6.6 million, a decline from $13 million a year ago, with a gross margin of 46.1%, significantly lower than 63.3% in the previous year. The company faced an operating loss of $(5.7 million) and a net loss of $(6.1 million) or $(0.26) per diluted share. CEO Lee-Lean Shu noted challenges from COVID-19 affecting sales and customer demand but remains optimistic about their Gemini APU technology's future. Guidance for Q2 expects revenues between $6 million and $7.2 million.

GSI Technology (Nasdaq: GSIT) has partnered with the SHREC NSF Center to advance its FRACTALS project, focusing on fault-tolerant AI computing systems for space applications. This collaboration aims to enhance the performance of GSI's Associative Processing Unit (APU) amid increasing satellite launches and deep-space missions. GSI's Gemini APU is designed to deliver rapid AI processing while withstanding harsh space conditions. The partnership will leverage research from SHREC to address challenges in space computing and high-performance computing, promoting advancements in AI applications for space exploration.

GSI Technology, Inc. (Nasdaq: GSIT) announced the publication of a whitepaper titled “In-Memory Acceleration For Big Data” by The Linley Group, detailing the advantages of its Gemini Associative Processing Unit (APU). The Gemini APU's unique architecture combines memory and compute units on a single chip, achieving exceptional performance with a memory bandwidth of 26 TB/s and power savings of 70%. The technology excels in applications requiring extensive data analysis, such as image recognition and drug discovery. This development aims to enhance market visibility and support GSI's sales activities.

On July 17, 2020, GSI Technology, Inc. (Nasdaq: GSIT) announced it will release its financial results for the first quarter of fiscal year 2021, ending June 30, 2020, after market close on July 30, 2020. The management will host a conference call at 1:30 p.m. PT to discuss the results and provide insights on the second quarter outlook. Investors can join the call by dialing in 10 minutes prior, and the session will be available via live stream. A replay will be accessible from July 30 at 7:30 p.m. ET through August 6, 2020.

GSI Technology, Inc. (NASDAQ: GSIT) reported its financial results for Q4 and FY2020, with net revenues of $8.5 million for Q4, down from $12.7 million a year prior. The company incurred a net loss of $3.8 million for the quarter, compared to a net loss of $102,000 in Q4 2019. For FY2020, net revenues were $43.3 million, a decline from $51.5 million in FY2019, resulting in a net loss of $10.3 million. Gross margin decreased to 58.5% from 61.4%. GSI maintains a strong cash position of $70.7 million and no debt, while expanding product opportunities amidst COVID-19 challenges.