GSIT
GSI Technology, Inc.

GSI Technology, Inc.GSIT

Technology · Semiconductors
3.02USD
-5.63%
Nov 08, 2026
GSIT overview ready
Fabless developer of very-fast SRAM and edge AI associative processors
GSI is a fabless semiconductor developer whose current revenue base is very-fast SRAM, while its prospective growth strategy is commercialization of Gemini associative processing units that perform compute-in-memory similarity search and edge AI workloads.
Primary theme is lagging
Memory Semiconductors is lagging (-29.1pp vs SPY over 21 sessions; 0 of 6 members ahead of SPY).
Price trend is broken
Longer-term context reads damaged structure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
Fair valuation
The price broadly reflects the strength of its balance sheet, with upside and risk reasonably balanced.
Fundamentals not measured
Primary risk
High operating losses and negative operating margin.
Market Nov 6Filing Sep 30Price action Nov 7Research Aug 30

Conviction Level

PriceAction1.4BusinessPerformance2.0BusinessQuality—Valuation3.5ThemeMomentum1.0Weakening — Revenue fell 7% year over year in the latest quarter. The company is still loss-making: the diluted loss per share widened to -$0.18 from -$0.11 a year earlier. — From filed financial statements. Describes the recent trajectory of the business, not the stock. 20 of the 100 Conviction points.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
vs SPY
−29.1pp
Theme return
−34.1%
Beating SPY
0 of 6
21 sessions to Nov 6, 2026 · Theme Leadership V2
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads damaged structure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
EntryDamaged / breakdown

The technical structure itself is broken across timeframes — the weakest entry profile.

Key Financials

Market Cap
$116.3M
Avg Volume (60D)
503.6K
60 sessions
Revenue Growth YoY
+22.4%
FY2026 vs FY2025
Gross Margin
+51.8%
Trailing twelve months
Operating Margin
-100.8%
Trailing twelve months
Free Cash Flow Yield
-22.4%
Distance from 200DMA
-54.4%
Next Earnings
2027-01-28
P/E
N/M
Market metrics as of Nov 6, 2026
Financial results for the period ended Sep 30, 2026
Filed balance-sheet data as of Sep 30, 2026

Business Performance

Weakening

Revenue fell 7% year over year in the latest quarter. The company is still loss-making: the diluted loss per share widened to -$0.18 from -$0.11 a year earlier.

Latest reported: Q2 FY2027, ended Sep 30
Revenue growthDeclining
-6.6%
$6.0M in Q2 FY2027 · YoY
YoY growth, last 4 quarters
  1. +12%
  2. +7.4%
  3. +0.5%
  4. -6.6%
Earnings growthLoss widening
-$0.18
Diluted EPS -$0.18 vs -$0.11 a year earlier · GAAP
Too few comparable EPS quarters: a loss or a turn to profit has no meaningful percentage.
Operating marginContracting
-123.5%
-74.1 pp YoY · gross margin 48.5% (-6.3 pp)
The business is consuming cash
The share count is rising

Business Quality

Not assessed

Not assessed yet — the business is too early-stage for its economics to show in filings.

Fundamentals & Valuation

Both valuation perspectives agree this company is cheap. The published stance is held at fair because no positive free cash flow behind the low multiple.
GSI Technology, Inc. has a Fair valuation stance because the price broadly reflects the strength of its balance sheet, with upside and risk reasonably balanced.

Company Research

Thesis
GSI is a fabless semiconductor developer whose current revenue base is very-fast SRAM, while its prospective growth strategy is commercialization of Gemini associative processing units that perform compute-in-memory similarity search and edge AI workloads. The story is still emerging, so the exposure is real but early.
Opportunity
Moderate opportunity
Deployment of inference, search, perception and sensor-data processing in power- and latency-constrained devices, vehicles, industrial systems and tactical environments, driving demand for specialized local AI processors and architectures that reduce data movement.
Key risk
High operating losses and negative operating margin.

Economic classification

Loading the economic classification…

Business & Markets

Technology · Semiconductors
What they do

GSI Technology designs, develops, and markets semiconductor memory solutions, operating as a fabless semiconductor company serving global customers across multiple industries.

How it earns

The company generates revenue primarily through product sales of semiconductor memory and associative processing units.

Products & services
Associative processing units (Gemini)
Static random-access memory (SRAM) products including SyncBurst, NBT, SigmaQuad, SigmaDDR
Customers & end markets
Networking
Industrial
Test equipment
Medical
Aerospace
Military
Market position

Niche fabless semiconductor developer focused on very-fast SRAM and emerging edge AI processors.

Demand drivers
Medium cyclicality

Semiconductor demand is influenced by broader technology cycles and end-market capital spending.