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GSI Technology

GSIT on Nasdaq. GSI Technology sells memory chips and AI processors to networking, telecom, and defense customers. Market value $216m.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to March 2026.

We can't read total debt from the filing, so debt is left out.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

Nothing stands out yet.

What to watch out for

See Technology stocks that passed both tests

This is not advice. Check the numbers below.

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Cash yield
past 12 months to June 2026
-8.9%low

For every $100 of what the whole company costs, it produced $-8.85 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026
n/a

The filings do not give us enough to work this out.

Return on capital
five annual reports to March 2026
n/a

The filings do not give us enough to work this out.

Quality score: 20 of 100. Price score: 0 of 100. Our list needs 70 on quality and 60 on price.

$5.58 a share, 24% above its 1-year low

Over the past year the price has ranged from $4.51 to $18.15.

Pays no dividend

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

-0.0
-0.0
-0.0
-0.0
-0.0
-0.0
2022202320242025202612 monthsto Jun '26
Revenue
$33m$30m$22m$21m$25m
Operating margin
-49.0%-53.2%-93.9%-52.8%-69.6%
Debt to equity
n/an/an/an/an/a
Shares outstanding
0.02bn0.03bn0.03bn0.04bn0.04bn

Health checks

  • Free cash flow positive0 of 5 years
  • Accounting checksSkipped: company is not yet profitable
  • DebtUnknown
  • Revenue growth, five yearsShrinking, 2.0% a year
  • Buying back its own sharesNo, 56% more shares since 2022

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $6 million last quarter, about the same as a year ago.
  • A loss of $5 million, compared with a loss of $2 million a year ago.
  • It loses 82 cents on each $1 of sales, compared with 64 cents a year earlier.
  • Over the past 12 months it spent $19 million more cash than it brought in, compared with $10 million a year earlier.
  • 38% more shares than a year ago. Each share owns a bit less of the company.
  • Sales grew on a year ago in each of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$5m
December 2024$5m
March 2025$6m
June 2025$6m
September 2025$6m
December 2025$6m
March 2026$6m
June 2026$6m
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024-$5m
December 2024-$4m
March 2025-$2m
June 2025-$2m
September 2025-$3m
December 2025-$3m
March 2026-$5m
June 2026-$5m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
5 June 2026
Next quarterly (estimated, 10-Q)
10 November 2026

Who owns it

None of the long-term investors we follow own it. 89 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

3 investors own more than 5%.

  • Lee-Lean Shu
    Passive investor
    9.0%−0.8 pts
    Since 30 June 2026
  • BlackRock, Inc.
    Passive investor
    6.2%
    Since 30 June 2026
  • Galloway Capital Partners, LLC
    at least 5.0%
    (filed with 3 related holders)
    Since 18 February 2026
    What they said

    Each Reporting Person acquired the securities described in this Schedule 13D for investment purposes and intend to review its investment in the Issuer on a continuing basis. Each Reporting Person may from time to time acquire additional securities of the Issuer or retain or sell…

    Read the filing

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

No insider bought shares on the open market in the last 12 months. 7 sold $9m, $2m of it under preset trading plans.

  • CHUANG PATRICK T
    Senior VP, Memory Design
    Sold
    Date
    2 June 2026
    Shares
    40,000
    Price
    $10.98
    Value
    $439,200
  • CHUANG PATRICK T
    Senior VP, Memory Design
    Sold
    Date
    1 June 2026
    Shares
    40,000
    Price
    $11.31
    Value
    $452,400
  • Wu Bor-Tay
    VP, Taiwan Operations
    Sold
    Date
    1 June 2026
    Shares
    20,000
    Price
    $10.93
    Value
    $218,600
  • Wu Ping Tak
    VP, U.S. Operations
    Sold
    Date
    26 May 2026
    Shares
    30,000
    Price
    $11.01
    Value
    $330,300
  • Wu Bor-Tay
    VP, Taiwan Operations
    Sold
    Date
    22 May 2026
    Shares
    20,000
    Price
    $10.93
    Value
    $218,600
  • Lasserre Didier
    VP, Sales
    Sold
    Date
    21 May 2026
    Shares
    30,000
    Price
    $9.31
    Value
    $279,300
  • Schirle Douglas
    CFO
    Sold
    Date
    14 May 2026
    Shares
    40,000
    Price
    $11.32
    Value
    $452,800
  • Shu Lee-Lean
    Pres., CEO and Chairman, Director
    Sold
    under a preset trading plan
    Date
    13 May 2026
    Shares
    10,313
    Price
    $12.51
    Value
    $129,016
  • Akerib Avidan
    VP, Associative Computing
    Sold
    Date
    13 May 2026
    Shares
    19,653
    Price
    $11.47
    Value
    $225,420
  • Wu Ping Tak
    VP, U.S. Operations
    Sold
    Date
    12 May 2026
    Shares
    11,763
    Price
    $10.80
    Value
    $127,040

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the serious warning signs we check for were found. 1 thing worth knowing.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 5 Jun 2026, plus the 10-Q filed 11 Aug 2026 and 2 later 8-Ks.

  • One big customer

    Worth knowing

    One customer brings in a big share of sales: 63.7% last year. Losing that customer would hurt.

    “For example, in fiscal 2026, 2025 and 2024, our largest distributor Avnet Logistics accounted for 63.7%, 49.6% and 50.6%, respectively, of our net revenues.”

    From the 10-K filed 5 June 2026, Item 1A. Risk Factors. Read it in the filing

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

  • Sales have shrunk: 2.0% a year.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.