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GSI Technology , Inc. (NASDAQ:GSIT), a $91 million market cap technology company, announced changes to its board of directors and committee leadership following its annual meeting of stockholders held Thursday. Trading at $3.11, the stock has gained 20% over the past year despite recent weakness. According to InvestingPro analysis, the company appears to be slightly overvalued at current levels. The information is based on a statement from the company’s SEC filing.
At the meeting, stockholders elected five directors to serve until the next annual meeting: Elizabeth Cholawsky, Haydn Hsieh, Ruey L. Lu, Lee-Lean Shu, and Ronald R. Steger. The vote counts for each nominee ranged from 12,479,186 to 12,618,015 shares in favor, with 65,007 to 203,836 shares withheld, and 6,103,899 broker non-votes recorded for each candidate.
Following the elections, the board made several committee appointments effective immediately. Ronald R. Steger, newly elected to the board, was named chair of the Audit Committee and joined the Nominating and Corporate Governance Committee. Ruey L. Lu was appointed chair of the Nominating and Corporate Governance Committee. Elizabeth Cholawsky was designated as lead director. InvestingPro data shows the company maintains strong liquidity with a current ratio of 5.79 and holds more cash than debt on its balance sheet, suggesting solid financial management oversight. The Audit Committee now includes Elizabeth Cholawsky, Haydn Hsieh, and Ronald R. Steger (chair). The Compensation Committee consists of Elizabeth Cholawsky (chair), Haydn Hsieh, and Ruey L. Lu. The Nominating and Governance Committee is now composed of Elizabeth Cholawsky, Ruey L. Lu (chair), and Ronald R. Steger.
Stockholders also ratified the appointment of BDO USA, P.C. as the company’s independent registered public accounting firm for the fiscal year ending March 31, 2025. The proposal received 18,436,156 votes in favor, 307,962 against, and 42,803 abstentions, with no broker non-votes.
Additionally, stockholders approved an advisory (non-binding) resolution on the compensation of the company’s named executive officers for fiscal 2025. The resolution received 12,482,730 votes in favor, 172,188 against, 28,104 abstentions, and 6,103,899 broker non-votes.
GSI Technology is incorporated in Delaware and is listed on the Nasdaq Stock Market under the ticker GSIT. The company disclosed these results in a press release statement filed with the Securities and Exchange Commission. For deeper insights into GSI Technology’s financial health, governance metrics, and detailed analysis, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US stocks with expert analysis and actionable intelligence.
In other recent news, GSI Technology Inc. announced its first-quarter financial results for fiscal year 2026, reporting a 35% increase in revenue compared to the previous year, reaching $6.3 million. Despite this growth in revenue, the company reported an earnings per share (EPS) loss of $0.08, which was in line with market expectations. The company remains committed to its strategic initiatives in the edge AI and satellite sectors. These recent developments reflect GSI Technology’s ongoing efforts to expand its market presence and enhance its technological offerings. The financial results indicate a positive trend in revenue growth, although challenges remain in achieving profitability. As the company continues to focus on its strategic priorities, investors may find these developments noteworthy.
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