Vertex Capital, which owns 9.9% of GSI Technology, has been active in the name since early 2015. Shares are up 11% YTD for this $130mm market cap "vertical finder website" operator. Vertex is hoping to get three nominees on the board. This week they penned a letter to the company to voice their support for the potential buyout by GigOptx for $6.50 a share (shares trade at $5.50).
Vertex cites stock underperformance and revenue decline as reasons to take the buyout and run. Here's the five year performance chart of GSI relative to peers:
And the five year performance of revenues: