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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Jun. 30, 2015	Jul. 31, 2015
Document And Entity Information
Entity Registrant Name	GSI TECHNOLOGY INC
Entity Central Index Key	0001126741
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		22,632,701
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2016

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2015	Mar. 31, 2015
ASSETS
Cash and cash equivalents	$ 39,176	$ 36,776
Short-term investments	19,299	22,201
Accounts receivable, net	9,423	8,257
Inventories	8,674	8,412
Prepaid expenses and other current assets	3,181	2,297
Total current assets	79,753	77,943
Property and equipment, net	8,421	8,708
Long-term investments	17,545	21,740
Other assets	481	498
Total assets	106,200	108,889
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable	4,495	2,961
Accrued expenses and other liabilities	4,082	5,937
Deferred revenue	3,022	2,815
Total current liabilities	11,599	11,713
Income taxes payable	790	780
Total liabilities	12,389	12,493
Commitments and contingencies (Note 6)
Stockholders' equity:
Preferred stock: $0.001 par value authorized: 5,000,000 shares; issued and outstanding: none
Common Stock: $0.001 par value authorized: 150,000,000 shares; issued and outstanding: 22,746,842 and 23,128,372 shares, respectively	23	23
Additional paid-in capital	27,744	29,407
Accumulated other comprehensive income	21	26
Retained earnings	66,023	66,940
Total stockholders' equity	93,811	96,396
Total liabilities and stockholders' equity	$ 106,200	$ 108,889

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2015	Mar. 31, 2015
Stockholders' Equity
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	22,746,842	23,128,372
Common stock, shares outstanding	22,746,842	23,128,372

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Income Statement
Net revenues	$ 14,025	$ 12,945
Cost of revenues	6,730	7,006
Gross profit	7,295	5,939
Operating expenses:
Research and development	2,998	3,073
Selling, general and administrative	5,305	4,335
Total operating expenses	8,303	7,408
Loss from operations	(1,008)	(1,469)
Interest income, net	79	96
Other income (expense), net	37	(25)
Loss before income taxes	(892)	(1,398)
Provision for income taxes	25	48
Net loss	$ (917)	$ (1,446)
Net loss per share:
Basic	$ (0.04)	$ (0.05)
Diluted	$ (0.04)	$ (0.05)
Weighted average shares used in per share calculations:
Basic	22,943	27,495
Diluted	22,943	27,495

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Consolidated Statements Of Comprehensive Loss
Net loss	$ (917)	$ (1,446)
Net unrealized gain (loss) on available-for-sale investments, net of tax	(5)	5
Total comprehensive loss	$ (922)	$ (1,441)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net loss	$ (917)	$ (1,446)
Adjustments to reconcile net loss to net cash used in operating activities:
Allowance for sales returns, doubtful accounts and other	3	(11)
Provision for excess and obsolete inventories	388	356
Depreciation and amortization	333	510
Stock-based compensation.	474	573
Windfall tax benefits from stock options exercised	0	0
Amortization of bond premium on investments	93	187
Changes in assets and liabilities:
Accounts receivable	(1,169)	(709)
Inventory	(650)	(534)
Prepaid expenses and other assets	(908)	249
Accounts payable	1,534	(1,243)
Accrued expenses and other liabilities	(1,845)	(966)
Deferred revenue	207	1,135
Net cash used in operating activities	(2,457)	(1,899)
Cash flows from investing activities:
Purchase of investments		(250)
Sales and maturities of short-term investments	7,000	4,596
Purchases of property and equipment	(6)	(24)
Net cash provided by investing activities	6,994	4,322
Cash flows from financing activities:
Repurchase of common stock	(2,453)	(913)
Proceeds from issuance of common stock under employee stock plans	316	316
Net cash used in financing activities	(2,137)	(597)
Net increase in cash and cash equivalents	2,400	1,826
Cash and cash equivalents at beginning of the year	36,776	41,520
Cash and cash equivalents at end of the period	39,176	43,346
Supplemental cash flow information:
Net cash paid (received) for income taxes	$ (132)	$ 31

1. THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Jun. 30, 2015
Company And Summary Of Significant Accounting Policies Details Narrative
NOTE 1-THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1—THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The accompanying unaudited condensed consolidated financial statements of GSI Technology, Inc. and its subsidiaries (“GSI” or the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the instructions to Form 10-Q and Article 10 of Regulation S-X of the Securities and Exchange Commission. Accordingly, the interim financial statements do not include all of the information and footnotes required by GAAP for annual financial statements. These interim financial statements contain all adjustments (which consist of only normal, recurring adjustments) that are, in the opinion of management, necessary to state fairly the interim financial information included therein. The Company believes that the disclosures are adequate to make the information not misleading. However, these financial statements should be read in conjunction with the audited consolidated financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2015. The consolidated results of operations for the three months ended June 30, 2015 are not necessarily indicative of the results to be expected for the entire fiscal year. Significant accounting policies The Company’s significant accounting policies are disclosed in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2015. Litigation and settlement costs From time to time, the Company is involved in legal actions. See Note 6 for information regarding litigation that was resolved during the three months ended June 30, 2015. There are many uncertainties associated with any litigation, and the Company may not prevail. If information becomes available that causes us to determine that a loss in any of our pending litigation, or the settlement of such litigation, is probable, and we can reasonably estimate the loss associated with such events, we will record the loss in accordance with GAAP. However, the actual liability in any such litigation may be materially different from our estimates, which could require us to record additional expenses. Recent accounting pronouncements In August 2014, the Financial Accounting Standards Board (“FASB”) issued new guidance related to the Company’s responsibility to evaluate whether there is substantial doubt about its ability to continue ongoing business operations and to provide relevant footnote disclosures. The new guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. Early adoption is permitted. The adoption of this guidance is not expected to have a material impact on the Company’s consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers." The new accounting standard outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance. The accounting standard is effective for annual reporting periods (including interim reporting periods within those periods) beginning after December 15, 2017. Early adoption is permitted for annual reporting periods (including interim reporting periods within those periods) beginning after December 15, 2016. ASU No. 2014-09 provides for one of two methods of transition: retrospective application to each prior period presented; or, recognition of the cumulative effect of retrospective application of the new standard in the period of initial application. The Company is currently evaluating the impact of this accounting standard on its consolidated financial statements.

2. NET LOSS PER COMMON SHARE

3 Months Ended

Jun. 30, 2015

NET LOSS PER COMMON SHARE

NOTE 2 - NET LOSS PER COMMON SHARE

NOTE 2—NET LOSS PER COMMON SHARE

The Company uses the treasury stock method to calculate the weighted average shares used in computing diluted net loss per share. The following table sets forth the computation of basic and diluted net loss per share:



	Three Months Ended June 30,
	2015		2014

	(In thousands, except per share amounts)
Net loss	$	(917)	$	(1,446)

Denominators:
Weighted average shares—Basic		22,943		27,495
Dilutive effect of employee stock options		—		—
Weighted average shares—Dilutive		22,943		27,495
Net loss per common share—Basic	$	(0.04)	$	(0.05)
Net loss per common share—Diluted	$	(0.04)	$	(0.05)

The following shares of common stock underlying outstanding stock options, determined on a weighted average basis, were excluded from the computation of diluted net loss per share as they had an anti-dilutive effect:



	Three Months Ended June 30,
	2015	2014

	(In thousands)
Shares underlying options	4,782	3,260

3. BALANCE SHEET DETAIL

3 Months Ended

Jun. 30, 2015

Balance Sheet Detail

NOTE 3 - BALANCE SHEET DETAIL

NOTE 3—BALANCE SHEET DETAIL



	June 30, 2015		March 31, 2015

	(In thousands)
Inventories:
Work-in-progress	$	2,273	$	2,422
Finished goods		5,732		5,362
Inventory at distributors		669		628
	$	8,674	$	8,412


	June 30, 2015		March 31, 2015
	(In thousands)
Accounts receivable, net:
Accounts receivable	$	9,529	$	8,360
Less: Allowances for sales returns, doubtful accounts and other		(106)		(103)
	$	9,423	$	8,257


	June 30, 2015		March 31, 2015
	(In thousands)
Prepaid expenses and other current assets:
Prepaid tooling and masks	$	2,205	$	1,208
Prepaid income taxes		—		139
Other receivables		360		350
Other prepaid expenses		616		600
	$	3,181	$	2,297


	June 30, 2015		March 31, 2015
	(In thousands)
Property and equipment, net:
Computer and other equipment	$	17,269	$	17,264
Software		4,792		4,792
Land		3,900		3,900
Building and building improvements		2,256		2,256
Furniture and fixtures		110		110
Leasehold improvements		791		791
		29,118		29,113
Less: Accumulated depreciation and amortization		(20,697)		(20,405)
	$	8,421	$	8,708

Depreciation and amortization expense was $292,000 and $465,000, respectively, for the three months ended June 30, 2015 and 2014.


	June 30, 2015		March 31, 2015
	(In thousands)
Other assets:
Non-current deferred income taxes	$	51	$	27
Intangibles, net		352		393
Deposits		78		78
	$	481	$	498

The following table summarizes the components of intangible assets and related accumulated amortization balances at June 30, 2015 (in thousands):


	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Intangible assets:
Product designs	$	590	$	492	$	98
Patents		720		466		254
Software		80		80		—
Total	$	1,390	$	1,038	$	352

Amortization of intangible assets included in cost of revenues was $41,000 and $45,000, respectively, for the three months ended June 30, 2015 and 2014.


	June 30, 2015		March 31, 2015
	(In thousands)
Accrued expenses and other liabilities:
Accrued compensation	$	2,144	$	3,386
Accrued professional fees		780		1,380
Accrued commissions		312		268
Other accrued expenses		846		903
	$	4,082	$	5,937

4. INCOME TAXES	3 Months Ended
4. INCOME TAXES	Jun. 30, 2015
Income Taxes
NOTE 4-INCOME TAXES	NOTE 4—INCOME TAXES The current portion of the Company’s unrecognized tax benefits was $0 at both June 30, 2015 and March 31, 2015. The long-term portion at June 30, 2015 and March 31, 2015 was $790,000 and $780,000, respectively, of which the timing of the resolution is uncertain. As of June 30, 2015, $1,318,000 of unrecognized tax benefits had been recorded as a reduction to net deferred tax assets. As of June 30, 2015 and March 31, 2015, the Company’s net deferred tax assets of $6.4 million and $6.0 million, respectively, were subject to a full valuation allowance. Management believes that it is reasonably possible that within the next twelve months the Company could have a reduction in uncertain tax benefits of up to $729,000, including interest and penalties, related to positions taken with respect to credits and loss carryforwards on previously filed tax returns. The Company’s policy is to include interest and penalties related to unrecognized tax benefits within the provision for income taxes in the Condensed Consolidated Statements of Operations. The Company is subject to taxation in the United States and various state and foreign jurisdictions. Fiscal years 2012 through 2015 remain open to examination by federal tax authorities, and fiscal years 2011 through 2015 remain open to examination by California tax authorities. The Company’s estimated annual effective income tax rate was approximately 2.6% and 5.0% as of June 30, 2015 and 2014, respectively. The annual effective tax rate as of June 30, 2015 and 2014 varies from the United States statutory income tax rate primarily due to valuation allowances in the United States whereby pre-tax losses do not result in the recognition of corresponding income tax benefits and expenses and the foreign tax differential.

5. FINANCIAL INSTRUMENTS

3 Months Ended

Jun. 30, 2015

Financial Instruments.

NOTE 5-FINANCIAL INSTRUMENTS

NOTE 5—FINANCIAL INSTRUMENTS

Fair value measurements

Authoritative accounting guidance for fair value measurements provides a framework for measuring fair value and related disclosures. The guidance applies to all financial assets and financial liabilities that are measured on a recurring basis. The guidance requires fair value measurement to be classified and disclosed in one of the following three categories:

Level 1: Valuations based on quoted prices in active markets for identical assets and liabilities. The fair value of available-for-sale securities included in the Level 1 category is based on quoted prices that are readily and regularly available in an active market. As of June 30, 2015, the Level 1 category included money market funds of $6.5 million, which were included in cash and cash equivalents on the Condensed Consolidated Balance Sheets.

Level 2: Valuations based on observable inputs (other than Level 1 prices), such as quoted prices for similar assets at the measurement date; quoted prices in markets that are not active; or other inputs that are observable, either directly or indirectly. The fair value of available-for-sale securities included in the Level 2 category is based on the market values obtained from an independent pricing service that were evaluated using pricing models that vary by asset class and may incorporate available trade, bid and other market information and price quotes from well established independent pricing vendors and broker-dealers. As of June 30, 2015, the Level 2 category included short-term investments of $19.3 million and long-term investments of $17.5 million, which were comprised of certificates of deposit, corporate debt securities and government and agency securities.

Level 3: Valuations based on inputs that are unobservable and involve management judgment and the reporting entity’s own assumptions about market participants and pricing. As of June 30, 2015, the Company had no Level 3 financial assets measured at fair value on the Condensed Consolidated Balance Sheets.

As of June 30, 2015, there were no liabilities measured at fair value on a recurring basis.

The fair value of financial assets measured on a recurring basis is as follows (in thousands):


			Fair Value Measurements at Reporting Date Using
			Quoted Prices in Active Markets for Identical Assets and Liabilities		Significant Other Observable Inputs		Significant Unobservable Inputs
	June 30, 2015		(Level 1)		(Level 2)		(Level 3)
Assets:
Money market funds	$	6,474	$	6,474	$	—	$	—
Marketable securities		36,844		—		36,844		—
Total	$	43,318	$	6,474	$	36,844	$	—


			Fair Value Measurements at Reporting Date Using
			Quoted Prices in Active Markets for Identical Assets and Liabilities		Significant Other Observable Inputs		Significant Unobservable Inputs
	March 31, 2015		(Level 1)		(Level 2)		(Level 3)
Assets:
Money market funds	$	4,409	$	4,409	$	—	$	—
Marketable securities		43,941		—		43,941		—
Total	$	48,350	$	4,409	$	43,941	$	—

Short-term and long-term investments

All of the Company’s short-term and long-term investments are classified as available-for-sale. Available-for-sale debt securities with maturities greater than twelve months are classified as long-term investments when they are not intended for use in current operations. Investments in available-for-sale securities are reported at fair value with unrecognized gains (losses), net of tax, as a component of accumulated other comprehensive income in the Condensed Consolidated Balance Sheets. The Company had money market funds of $6.5 million and $4.4 million at June 30, 2015 and March 31, 2015, respectively, included in cash and cash equivalents on the Condensed Consolidated Balance Sheet. The Company monitors its investments for impairment periodically and records appropriate reductions in carrying values when declines are determined to be other-than-temporary.

The following table summarizes the Company’s available-for-sale investments:



	June 30, 2015
			Gross		Gross
			Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
	(In thousands)
Short-term investments:
State and municipal obligations	$	2,751	$	—	$	(1)	$	2,750
Corporate notes		8,784		4		(2)		8,786
Certificates of deposit		6,750		9		—		6,759
Agency bonds		1,004		—		—		1,004
Total short-term investments	$	19,289	$	13	$	(3)	$	19,299
Long-term investments:
State and municipal obligations	$	1,043	$	3	$	—	$	1,046
Corporate notes		2,790		—		(7)		2,783
Certificates of deposit		8,000		22		(1)		8,021
Agency bonds		3,003		5		—		3,008
International government obligations		2,687		—		—		2,687
Total long-term investments	$	17,523	$	30	$	(8)	$	17,545



	March 31, 2015
			Gross		Gross
			Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
	(In thousands)
Short-term investments:
State and municipal obligations	$	6,810	$	—	$	—	$	6,810
Corporate notes		7,366		10		—		7,376
Agency bonds		1,006		—		—		1,006
Certificates of deposit		7,000		9		—		7,009
Total short-term investments	$	22,182	$	19	$	—	$	22,201
Long-term investments:
State and municipal obligations	$	1,053	$	4	$	—	$	1,057
Corporate notes		4,232		—		(10)		4,222
Certificates of deposit		9,750		24		(1)		9,773
Agency bonds		4,003		4		(2)		4,005
Other		2,684		—		(1)		2,683
Total long-term investments	$	21,722	$	32	$	(14)	$	21,740

The Company’s investment portfolio consists of both corporate and governmental securities that have a maximum maturity of three years. All unrealized gains are due to changes in interest rates and bond yields. Subject to normal credit risks, the Company has the ability to realize the full value of all these investments upon maturity.

The deferred tax liability related to unrecognized gains and losses on short-term and long-term investments was $11,000 at June 30, 2015 and $11,000 at March 31, 2015.

As of June 30, 2015, contractual maturities of the Company’s available-for-sale investments were as follows:



			Fair
	Cost		Value
	(In thousands)
Maturing within one year	$	19,289	$	19,299
Maturing in one to three years		17,523		17,545
Maturing in more than three years		—		—
	$	36,812	$	36,844

The Company classifies its short-term investments as “available-for-sale” as they are intended to be available for use in current operations.

6. COMMITMENTS AND CONTINGENCIES

3 Months Ended

Jun. 30, 2015

Commitments and Contingencies Disclosure

NOTE 6-COMMITMENTS AND CONTINGENCIES

NOTE 6—COMMITMENTS AND CONTINGENCIES

Indemnification obligations

The Company is a party to a variety of agreements pursuant to which it may be obligated to indemnify the other party with respect to certain matters. Typically, these obligations arise in the context of contracts entered into by the Company, under which the Company agrees to hold the other party harmless against losses arising from a breach of representations and covenants related to such matters as title to assets sold and certain intellectual property rights. In each of these circumstances, the Company’s indemnification obligations are conditioned on the other party making a claim pursuant to the procedures specified in the particular contract, which procedures typically allow the Company to challenge the other party’s claims. Further, the Company’s obligations under these agreements may be limited in terms of time and/or amount, and in some instances, the Company may have recourse against third parties for certain payments made by it under these agreements.

It is not possible to predict the maximum potential amount of future payments that may be required under these or similar agreements due to the conditional nature of the Company’s obligations and the unique facts and circumstances involved in each particular agreement. Historically, payments made by the Company under these agreements have not had a material effect on its business, financial condition, cash flows or results of operations.

Product warranties

The Company warrants its products to be free of defects generally for a period of three years. The Company estimates its warranty costs based on historical warranty claim experience and includes such costs in cost of revenues. Warranty costs were not significant for the three months ended June 30, 2015 or 2014.

Legal proceedings

In March 2011, Cypress Semiconductor Corporation, a semiconductor manufacturer, filed a lawsuit against the Company in the United States District Court for the District of Minnesota alleging that the Company’s products, including its SigmaDDR and SigmaQuad families of Very Fast SRAMs, infringe five patents held by Cypress. The complaint sought unspecified damages for past infringement and a permanent injunction against future infringement.

On June 10, 2011, Cypress filed a complaint against the Company with the United States International Trade Commission (the “ITC”). The ITC complaint, as subsequently amended, alleged infringement by the Company of three of the five patents involved in the District Court case and one additional patent and also alleged infringement by three of the Company’s distributors and 11 of its customers who allegedly incorporate the Company’s SRAMs in their products. The ITC complaint sought a limited exclusion order excluding the allegedly infringing SRAMs, and products containing them, from entry into the United States and permanent orders directing the Company and the other respondents to cease and desist from selling or distributing such products in the United States. On July 21, 2011, the ITC formally instituted an investigation in response to Cypress’s complaint. On June 7, 2013, the ITC announced that the full Commission had affirmed the determination of Chief Administrative Judge Charles E. Bullock that GSI’s SRAM devices, and products containing them, do not infringe the Cypress patents and that Cypress had failed to establish existence of a domestic industry that practices the patents. Moreover, the Commission reversed a portion of Judge Bullock’s determination with respect to the validity of the patents, finding the asserted claims of one of the patents to have been anticipated by prior art and, therefore, invalid. The Commission ordered the investigation terminated, and Cypress did not appeal the ruling.

The Minnesota District Court case had been stayed pending the conclusion of the ITC proceeding. Following the termination of the ITC investigation, the stay was lifted. On May 1, 2013, Cypress filed an additional lawsuit in the United States District Court for the Northern District of California alleging infringement by our products of five additional Cypress patents. Like the Minnesota case, the complaint in the California lawsuit sought unspecified damages for past infringement and a permanent injunction against future infringement. The Company filed answers in both cases denying liability and asserting affirmative defenses. On August 7, 2013, the parties stipulated that the claims in the Minnesota case with respect to three of the asserted patents would be dismissed without prejudice and that the claims with respect to the remaining two patents would be transferred to, and consolidated with, the California case. On August 20, 2013, the Court in the California case ordered the cases consolidated.

The Company did not record any loss contingency during fiscal 2013, fiscal 2014 or fiscal 2015 in connection with these legal proceedings as the Company was unable to predict their outcome and could not estimate the likelihood or potential dollar amount of any adverse results.

On May 6, 2015, the Company and Cypress entered into a settlement agreement to resolve the patent infringement litigation and a separate lawsuit pending in the United States District Court for the Northern District of California in which the Company alleged that Cypress had violated federal and state antitrust laws. Under the settlement agreement:

Each of the parties agreed to dismiss its lawsuit with prejudice in consideration of the dismissal with prejudice of the lawsuit brought by the other party; and

Each party agreed to release all claims against the other with respect to issues raised in the two lawsuits.

The parties agreed that the settlement agreement was entered into to resolve disputed claims, and that each party denies any liability to the other party.

7. STOCK- BASED COMPENSATION

3 Months Ended

Jun. 30, 2015

Stock-Based Compensation

NOTE 7-STOCK- BASED COMPENSATION

NOTE 7—STOCK-BASED COMPENSATION

As of June 30, 2015, 7,329,636 shares of common stock were available for grant under the Company’s 2007 Equity Incentive Plan.

The following table summarizes the Company’s stock option activities for the three months ended June 30, 2015:



			Weighted
		Number of Shares	Average	Weighted
	Shares	Underlying	Remaining	Average
	Available for	Options	Contractual	Exercise		Intrinsic
	Grant	Outstanding	Life (Years)	Price		Value
Balance at March 31, 2015	6,213,943	6,774,151		$	5.16
Options reserved	1,156,419	—			—
Granted	(50,590)	50,590			5.34
Exercised	—	(15,945)			3.28	$	25,940
Forfeited	9,864	(9,864)			4.78
Balance at June 30, 2015	7,329,636	6,798,932		$	5.16
Options vested and exercisable		4,730,077	4.06	$	5.02	$	3,272,981
Options vested and expected to vest		6,758,383	5.28	$	5.16	$	3,643,374

The weighted average fair value per underlying share of options granted during the three months ended June 30, 2015 and 2014 was $1.89 and $2.34, respectively.

Options outstanding by exercise price at June 30, 2015 were as follows:



				Number of	Options Outstanding			Options Exercisable
				Shares	Weighted		Weighted Average		Weighted
				Underlying	Average		Remaining	Number	Average
				Options	Exercise		Contractual	Vested and	Exercise
Exercise Price				Outstanding	Price		Life (Years)	Exercisable	Price
$	2.43	-	3.43	895,584	$	3.18	3.60	895,584	$	3.18
$	3.75	-	4.00	812,779	$	3.96	3.71	812,779	$	3.96
$	4.17	-	4.68	700,615	$	4.31	5.19	385,551	$	4.30
$	4.81	-	5.23	1,076,786	$	5.05	8.03	266,888	$	4.91
$	5.34			50,590	$	5.34	9.86	—	$	—
$	5.50			783,433	$	5.50	1.38	783,433	$	5.50
$	5.59	-	5.76	695,410	$	5.70	6.38	288,753	$	5.70
$	6.00	-	6.54	798,182	$	6.32	5.91	714,596	$	6.31
$	6.61	-	7.00	871,933	$	6.83	7.04	468,873	$	6.87
$	9.20			113,620	$	9.20	5.58	113,620	$	9.20
				6,798,932	$	5.16	5.30	4,730,077	$	5.02

The following table summarizes stock-based compensation expense by line item in the Condensed Consolidated Statements of Operations, all relating to employee stock plans:



	Three Months Ended June 30,
	2015		2014
	(In thousands)
Cost of revenues	$	69	$	99
Research and development		217		242
Selling, general and administrative		188		232
Total	$	474	$	573

As stock-based compensation expense recognized in the Condensed Consolidated Statement of Operations is based on awards ultimately expected to vest, it has been reduced for estimated forfeitures in accordance with authoritative guidance. The Company estimates forfeitures at the time of grant and revises the original estimates, if necessary, in subsequent periods if actual forfeitures differ from those estimates.

No tax benefit related to stock-based compensation was recognized in the three months ended June 30, 2015 or June 30, 2014 due to a full valuation allowance. There were no windfall tax benefits realized from exercised stock options in either period. Compensation cost capitalized within inventory at June 30, 2015 was immaterial. As of June 30, 2015, the Company’s total unrecognized compensation cost was $2.9 million, which will be recognized over a weighted average period of 1.86 years. The Company calculated the fair value of stock-based awards in the periods presented using the Black-Scholes option pricing model and the following weighted average assumptions:



	Three Months Ended June 30,
	2015			2014
	(In thousands)
Stock Option Plans:
Risk-free interest rate		1.52	%		1.66	%
Expected life (in years)		5.00			5.00
Volatility		38.0	%		44.5	%
Dividend yield		—	%		—	%
Employee Stock Purchase Plan:
Risk-free interest rate		0.09	%		0.052	%
Expected life (in years)		0.50			0.50
Volatility		26.3	%		30.8	%
Dividend yield		—	%		—	%

8. SEGMENT AND GEOGRAPHIC INFORMATION

3 Months Ended

Jun. 30, 2015

Segment And Geographic Information

NOTE 8-SEGMENT AND GEOGRAPHIC INFORMATION

NOTE 8—SEGMENT AND GEOGRAPHIC INFORMATION

Based on its operating management and financial reporting structure, the Company has determined that it has one reportable business segment: the design, development and sale of integrated circuits.

The following is a summary of net revenues by geographic area based on the location to which product is shipped:



	Three Months Ended June 30,
	2015		2014
	(In thousands)
United States	$	5,948	$	3,618
China		3,798		3,530
Malaysia		—		1,603
Netherlands		1,698		1,016
Singapore		1,398		1,666
Rest of the world		1,183		1,512
	$	14,025	$	12,945

All sales are denominated in United States dollars.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-SubTopic 10
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-Paragraph 12
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-SubTopic 10
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-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 280
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-Paragraph 35
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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-Paragraph 42
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-Name Accounting Standards Codification
-Topic 280
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
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Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599

+ Details

1. THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Jun. 30, 2015
Company And Summary Of Significant Accounting Policies Details Narrative
Basis of consolidation	Basis of presentation The accompanying unaudited condensed consolidated financial statements of GSI Technology, Inc. and its subsidiaries (“GSI” or the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the instructions to Form 10-Q and Article 10 of Regulation S-X of the Securities and Exchange Commission. Accordingly, the interim financial statements do not include all of the information and footnotes required by GAAP for annual financial statements. These interim financial statements contain all adjustments (which consist of only normal, recurring adjustments) that are, in the opinion of management, necessary to state fairly the interim financial information included therein. The Company believes that the disclosures are adequate to make the information not misleading. However, these financial statements should be read in conjunction with the audited consolidated financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2015. The consolidated results of operations for the three months ended June 30, 2015 are not necessarily indicative of the results to be expected for the entire fiscal year.
Significant accounting policies	Significant accounting policies The Company’s significant accounting policies are disclosed in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2015.
Litigation and settlement costs	Litigation and settlement costs From time to time, the Company is involved in legal actions. See Note 6 for information regarding litigation that was resolved during the three months ended June 30, 2015. There are many uncertainties associated with any litigation, and the Company may not prevail. If information becomes available that causes us to determine that a loss in any of our pending litigation, or the settlement of such litigation, is probable, and we can reasonably estimate the loss associated with such events, we will record the loss in accordance with GAAP. However, the actual liability in any such litigation may be materially different from our estimates, which could require us to record additional expenses.
Recent accounting pronouncements	Recent accounting pronouncements In August 2014, the Financial Accounting Standards Board (“FASB”) issued new guidance related to the Company’s responsibility to evaluate whether there is substantial doubt about its ability to continue ongoing business operations and to provide relevant footnote disclosures. The new guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. Early adoption is permitted. The adoption of this guidance is not expected to have a material impact on the Company’s consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers." The new accounting standard outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance. The accounting standard is effective for annual reporting periods (including interim reporting periods within those periods) beginning after December 15, 2017. Early adoption is permitted for annual reporting periods (including interim reporting periods within those periods) beginning after December 15, 2016. ASU No. 2014-09 provides for one of two methods of transition: retrospective application to each prior period presented; or, recognition of the cumulative effect of retrospective application of the new standard in the period of initial application. The Company is currently evaluating the impact of this accounting standard on its consolidated financial statements.

2. NET LOSS PER COMMON SHARE (Tables)

3 Months Ended

Jun. 30, 2015

NET LOSS PER COMMON SHARE

Basic and diluted net loss per share



	Three Months Ended June 30,
	2015		2014

	(In thousands, except per share amounts)
Net loss	$	(917)	$	(1,446)

Denominators:
Weighted average shares—Basic		22,943		27,495
Dilutive effect of employee stock options		—		—
Weighted average shares—Dilutive		22,943		27,495
Net loss per common share—Basic	$	(0.04)	$	(0.05)
Net loss per common share—Diluted	$	(0.04)	$	(0.05)

Anti-dilutive shares



	Three Months Ended June 30,
	2015	2014

	(In thousands)
Shares underlying options	4,782	3,260

3. BALANCE SHEET DETAIL (Tables)

3 Months Ended

Jun. 30, 2015

Balance Sheet Detail

Schedule of Inventories



	June 30, 2015		March 31, 2015

	(In thousands)
Inventories:
Work-in-progress	$	2,273	$	2,422
Finished goods		5,732		5,362
Inventory at distributors		669		628
	$	8,674	$	8,412

Schedule of Accounts Receivable, Net


	June 30, 2015		March 31, 2015
	(In thousands)
Accounts receivable, net:
Accounts receivable	$	9,529	$	8,360
Less: Allowances for sales returns, doubtful accounts and other		(106)		(103)
	$	9,423	$	8,257

Schedule of Prepaid Expenses and Other Current Assets


	June 30, 2015		March 31, 2015
	(In thousands)
Prepaid expenses and other current assets:
Prepaid tooling and masks	$	2,205	$	1,208
Prepaid income taxes		—		139
Other receivables		360		350
Other prepaid expenses		616		600
	$	3,181	$	2,297

Schedule of Property and Equipment, Net


	June 30, 2015		March 31, 2015
	(In thousands)
Property and equipment, net:
Computer and other equipment	$	17,269	$	17,264
Software		4,792		4,792
Land		3,900		3,900
Building and building improvements		2,256		2,256
Furniture and fixtures		110		110
Leasehold improvements		791		791
		29,118		29,113
Less: Accumulated depreciation and amortization		(20,697)		(20,405)
	$	8,421	$	8,708

Schedule of Other Assets


	June 30, 2015		March 31, 2015
	(In thousands)
Other assets:
Non-current deferred income taxes	$	51	$	27
Intangibles, net		352		393
Deposits		78		78
	$	481	$	498

Schedule of Intangible Assets

The following table summarizes the components of intangible assets and related accumulated amortization balances at June 30, 2015 (in thousands):


	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Intangible assets:
Product designs	$	590	$	492	$	98
Patents		720		466		254
Software		80		80		—
Total	$	1,390	$	1,038	$	352

Schedule of Accrued Expenses and Other Liabilities


	June 30, 2015		March 31, 2015
	(In thousands)
Accrued expenses and other liabilities:
Accrued compensation	$	2,144	$	3,386
Accrued professional fees		780		1,380
Accrued commissions		312		268
Other accrued expenses		846		903
	$	4,082	$	5,937

5. FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Jun. 30, 2015

Financial Instruments.

Schedule of Fair value of financial assets and liabilities measured on a recurring basis

The fair value of financial assets measured on a recurring basis is as follows (in thousands):


			Fair Value Measurements at Reporting Date Using
			Quoted Prices in Active Markets for Identical Assets and Liabilities		Significant Other Observable Inputs		Significant Unobservable Inputs
	June 30, 2015		(Level 1)		(Level 2)		(Level 3)
Assets:
Money market funds	$	6,474	$	6,474	$	—	$	—
Marketable securities		36,844		—		36,844		—
Total	$	43,318	$	6,474	$	36,844	$	—


			Fair Value Measurements at Reporting Date Using
			Quoted Prices in Active Markets for Identical Assets and Liabilities		Significant Other Observable Inputs		Significant Unobservable Inputs
	March 31, 2015		(Level 1)		(Level 2)		(Level 3)
Assets:
Money market funds	$	4,409	$	4,409	$	—	$	—
Marketable securities		43,941		—		43,941		—
Total	$	48,350	$	4,409	$	43,941	$	—

Schedule of Available-for-sale investments



	June 30, 2015
			Gross		Gross
			Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
	(In thousands)
Short-term investments:
State and municipal obligations	$	2,751	$	—	$	(1)	$	2,750
Corporate notes		8,784		4		(2)		8,786
Certificates of deposit		6,750		9		—		6,759
Agency bonds		1,004		—		—		1,004
Total short-term investments	$	19,289	$	13	$	(3)	$	19,299
Long-term investments:
State and municipal obligations	$	1,043	$	3	$	—	$	1,046
Corporate notes		2,790		—		(7)		2,783
Certificates of deposit		8,000		22		(1)		8,021
Agency bonds		3,003		5		—		3,008
International government obligations		2,687		—		—		2,687
Total long-term investments	$	17,523	$	30	$	(8)	$	17,545



	March 31, 2015
			Gross		Gross
			Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
	(In thousands)
Short-term investments:
State and municipal obligations	$	6,810	$	—	$	—	$	6,810
Corporate notes		7,366		10		—		7,376
Agency bonds		1,006		—		—		1,006
Certificates of deposit		7,000		9		—		7,009
Total short-term investments	$	22,182	$	19	$	—	$	22,201
Long-term investments:
State and municipal obligations	$	1,053	$	4	$	—	$	1,057
Corporate notes		4,232		—		(10)		4,222
Certificates of deposit		9,750		24		(1)		9,773
Agency bonds		4,003		4		(2)		4,005
Other		2,684		—		(1)		2,683
Total long-term investments	$	21,722	$	32	$	(14)	$	21,740

Schedule of Contractual maturities of the available-for-sale non-equity investments



			Fair
	Cost		Value
	(In thousands)
Maturing within one year	$	19,289	$	19,299
Maturing in one to three years		17,523		17,545
Maturing in more than three years		—		—
	$	36,812	$	36,844

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References + Details

7. STOCK- BASED COMPENSATION (Tables)

3 Months Ended

Jun. 30, 2015

Stock-Based Compensation

Summary of stock option activities



			Weighted
		Number of Shares	Average	Weighted
	Shares	Underlying	Remaining	Average
	Available for	Options	Contractual	Exercise		Intrinsic
	Grant	Outstanding	Life (Years)	Price		Value
Balance at March 31, 2015	6,213,943	6,774,151		$	5.16
Options reserved	1,156,419	—			—
Granted	(50,590)	50,590			5.34
Exercised	—	(15,945)			3.28	$	25,940
Forfeited	9,864	(9,864)			4.78
Balance at June 30, 2015	7,329,636	6,798,932		$	5.16
Options vested and exercisable		4,730,077	4.06	$	5.02	$	3,272,981
Options vested and expected to vest		6,758,383	5.28	$	5.16	$	3,643,374

Schedule of options outstanding by exercise price



				Number of	Options Outstanding			Options Exercisable
				Shares	Weighted		Weighted Average		Weighted
				Underlying	Average		Remaining	Number	Average
				Options	Exercise		Contractual	Vested and	Exercise
Exercise Price				Outstanding	Price		Life (Years)	Exercisable	Price
$	2.43	-	3.43	895,584	$	3.18	3.60	895,584	$	3.18
$	3.75	-	4.00	812,779	$	3.96	3.71	812,779	$	3.96
$	4.17	-	4.68	700,615	$	4.31	5.19	385,551	$	4.30
$	4.81	-	5.23	1,076,786	$	5.05	8.03	266,888	$	4.91
$	5.34			50,590	$	5.34	9.86	—	$	—
$	5.50			783,433	$	5.50	1.38	783,433	$	5.50
$	5.59	-	5.76	695,410	$	5.70	6.38	288,753	$	5.70
$	6.00	-	6.54	798,182	$	6.32	5.91	714,596	$	6.31
$	6.61	-	7.00	871,933	$	6.83	7.04	468,873	$	6.87
$	9.20			113,620	$	9.20	5.58	113,620	$	9.20
				6,798,932	$	5.16	5.30	4,730,077	$	5.02

Summary of stock-based compensation expense by line item



	Three Months Ended June 30,
	2015		2014
	(In thousands)
Cost of revenues	$	69	$	99
Research and development		217		242
Selling, general and administrative		188		232
Total	$	474	$	573

Schedule of weighted average assumptions



	Three Months Ended June 30,
	2015			2014
	(In thousands)
Stock Option Plans:
Risk-free interest rate		1.52	%		1.66	%
Expected life (in years)		5.00			5.00
Volatility		38.0	%		44.5	%
Dividend yield		—	%		—	%
Employee Stock Purchase Plan:
Risk-free interest rate		0.09	%		0.052	%
Expected life (in years)		0.50			0.50
Volatility		26.3	%		30.8	%
Dividend yield		—	%		—	%

8. SEGMENT AND GEOGRAPHIC INFORMATION (Tables)

3 Months Ended

Jun. 30, 2015

Segment And Geographic Information

Net revenues by geographic area



	Three Months Ended June 30,
	2015		2014
	(In thousands)
United States	$	5,948	$	3,618
China		3,798		3,530
Malaysia		—		1,603
Netherlands		1,698		1,016
Singapore		1,398		1,666
Rest of the world		1,183		1,512
	$	14,025	$	12,945

2. NET LOSS PER COMMON SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
NET LOSS PER COMMON SHARE
Net loss	$ (917)	$ (1,446)
Weighted average shares-Basic	22,943	27,495
Weighted average shares-Dilutive	22,943	27,495
Net loss per common share - Basic	$ (0.04)	$ (0.05)
Net loss per common share - Diluted	$ (0.04)	$ (0.05)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

2. NET LOSS PER COMMON SHARE (Details 2) - shares shares in Thousands	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
NET LOSS PER COMMON SHARE
Antidilutive shares excluded from computation of EPS	4,782	3,260

3. BALANCE SHEET DETAIL (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Mar. 31, 2015
Inventories:
Work-in-progress	$ 2,273	$ 2,422
Finished goods	5,732	5,362
Inventory at distributors	669	628
Total Inventory	$ 8,674	$ 8,412

3. BALANCE SHEET DETAIL (Details 2) - USD ($) $ in Thousands	Jun. 30, 2015	Mar. 31, 2015
Accounts receivable, net:
Accounts receivable	$ 9,529	$ 8,360
Less: Allowances for sales returns, doubtful accounts and other	(106)	(103)
Total accounts receivable, net	$ 9,423	$ 8,257

3. BALANCE SHEET DETAIL (Details 3) - USD ($) $ in Thousands	Jun. 30, 2015	Mar. 31, 2015
Prepaid expenses and other current assets:
Prepaid tooling and masks	$ 2,205	$ 1,208
Prepaid income taxes		139
Other receivables	360	350
Other prepaid expenses	616	600
Total prepaid expenses and other current assets	$ 3,181	$ 2,297

3.BALANCE SHEET DETAIL - Property, Plant and Equipment (Details 4) - USD ($)	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Mar. 31, 2015
Property and equipment, net:
Property and equipment, gross	$ 29,118,000		$ 29,113,000
Less: Accumulated depreciation and amortization	(20,697,000)		(20,405,000)
Property, Plant and Equipment, Net, Total	8,421,000		8,708,000
Depreciation and amortization	292,000	$ 465,000
Computer and other equipment
Property and equipment, net:
Property and equipment, gross	17,269,000		17,264,000
Software
Property and equipment, net:
Property and equipment, gross	4,792,000		4,792,000
Land
Property and equipment, net:
Property and equipment, gross	3,900,000		3,900,000
Building and building improvements
Property and equipment, net:
Property and equipment, gross	2,256,000		2,256,000
Furniture and fixtures
Property and equipment, net:
Property and equipment, gross	110,000		110,000
Leasehold improvements
Property and equipment, net:
Property and equipment, gross	$ 791,000		$ 791,000

3. BALANCE SHEET DETAIL (Details 5) - USD ($) $ in Thousands	Jun. 30, 2015	Mar. 31, 2015
Other assets:
Non-current deferred income taxes	$ 51	$ 27
Intangibles, net	352	393
Deposits	78	78
Total Other Assets	$ 481	$ 498

3. BALANCE SHEET DETAIL (Details 6) - USD ($)	3 Months Ended
3. BALANCE SHEET DETAIL (Details 6) - USD ($)	Jun. 30, 2015	Jun. 30, 2014	Mar. 31, 2015
Gross Carrying Amount	$ 1,390,000
Accumulated Amortization	1,038,000
Net Carrying Amount	352,000		$ 393,000
Amortization of intangible assets	41,000	$ 45,000
Product designs
Gross Carrying Amount	590,000
Accumulated Amortization	492,000
Net Carrying Amount	98,000
Patents
Gross Carrying Amount	720,000
Accumulated Amortization	466,000
Net Carrying Amount	254,000
Software.
Gross Carrying Amount	80,000
Accumulated Amortization	$ 80,000

3. BALANCE SHEET DETAIL (Details 7) - USD ($) $ in Thousands	Jun. 30, 2015	Mar. 31, 2015
Accrued expenses and other liabilities:
Accrued compensation	$ 2,144	$ 3,386
Accrued professional fees	780	1,380
Accrued commissions	312	268
Other accrued expenses	846	903
Total Accrued Expenses and Other Liabilities	$ 4,082	$ 5,937

4. INCOME TAXES (Details 4) - USD ($)	3 Months Ended
4. INCOME TAXES (Details 4) - USD ($)	Jun. 30, 2015	Jun. 30, 2014	Mar. 31, 2015
Income Taxes
Unrecognized tax benefits, current	$ 0		$ 0
Unrecognized tax benefits, noncurrent	790,000		780,000
Deferred tax assets unrecognized tax benefit	1,318,000
Deferred tax assets net of liabilities	6,400,000		$ 6,000,000
Possible reduction in uncertain tax benefits	$ 729,000
Effective annual income tax rate	2.60%	5.00%

5. FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Mar. 31, 2015
Fair value measurements
Short-term investments	$ 19,299	$ 22,201
Long-term investments	17,545	21,740
Recurring
Fair value measurements
Money market funds included in cash and cash equivalents	6,474	4,409
Marketable securities	36,844	43,941
Assets	43,318	48,350
Liabilities	0
Recurring \| Level 1
Fair value measurements
Money market funds included in cash and cash equivalents	6,474	4,409
Assets	6,474	4,409
Recurring \| Level 2
Fair value measurements
Marketable securities	36,844	43,941
Assets	36,844	$ 43,941
Recurring \| Level 3
Fair value measurements
Assets	$ 0

5. FINANCIAL INSTRUMENTS (Details 2) - USD ($)	3 Months Ended
5. FINANCIAL INSTRUMENTS (Details 2) - USD ($)	Jun. 30, 2015	Mar. 31, 2015
Available-for-sale investments
Cost	$ 36,812,000
Fair Value	$ 36,844,000
Other information
Maximum maturity period of investment portfolio	3 years
Deferred tax liability related to unrecognized gains and losses on short-term and long-term investments	$ 11,000	$ 11,000
Short-term investments
Available-for-sale investments
Cost	19,289,000	22,182,000
Gross Unrealized Gains	13,000	19,000
Gross Unrealized Losses	(3,000)
Fair Value	19,299,000	22,201,000
Short-term investments \| State and municipal obligations
Available-for-sale investments
Cost	2,751,000	6,810,000
Gross Unrealized Losses	(1,000)
Fair Value	2,750,000	6,810,000
Short-term investments \| Corporate notes
Available-for-sale investments
Cost	8,784,000	7,366,000
Gross Unrealized Gains	4,000	10,000
Gross Unrealized Losses	(2,000)
Fair Value	8,786,000	7,376,000
Short-term investments \| Agency bonds
Available-for-sale investments
Cost	1,004,000	1,006,000
Fair Value	1,004,000	1,006,000
Short-term investments \| Certificates of deposits
Available-for-sale investments
Cost	6,750,000	7,000,000
Gross Unrealized Gains	9,000	9,000
Fair Value	6,759,000	7,009,000
Long-term investment
Available-for-sale investments
Cost	17,523,000	21,722,000
Gross Unrealized Gains	30,000	32,000
Gross Unrealized Losses	(8,000)	(14,000)
Fair Value	17,545,000	21,740,000
Long-term investment \| State and municipal obligations
Available-for-sale investments
Cost	1,043,000	1,053,000
Gross Unrealized Gains	3,000	4,000
Fair Value	1,046,000	1,057,000
Long-term investment \| Corporate notes
Available-for-sale investments
Cost	2,790,000	4,232,000
Gross Unrealized Losses	(7,000)	(10,000)
Fair Value	2,783,000	4,222,000
Long-term investment \| Agency bonds
Available-for-sale investments
Cost	3,003,000	4,003,000
Gross Unrealized Gains	5,000	4,000
Gross Unrealized Losses		(2,000)
Fair Value	3,008,000	4,005,000
Long-term investment \| Certificates of deposits
Available-for-sale investments
Cost	8,000,000	9,750,000
Gross Unrealized Gains	22,000	24,000
Gross Unrealized Losses	(1,000)	(1,000)
Fair Value	8,021,000	9,773,000
Long-term investment \| Other
Available-for-sale investments
Cost		2,684,000
Gross Unrealized Losses		(1,000)
Fair Value		$ 2,683,000
Long-term investment \| International government obligations
Available-for-sale investments
Cost	2,687,000
Fair Value	$ 2,687,000

5. FINANCIAL INSTRUMENTS (Details 3) $ in Thousands	Jun. 30, 2015 USD ($)
Financial Instruments.
Maturing within one year, Cost	$ 19,289
Maturing in one to three years, Cost	17,523
Total	36,812
Maturing within one year, Fair Value	19,299
Maturing in one to three years, Fair Value	17,545
Fair Value	$ 36,844

6-COMMITMENTS AND CONTINGENCIES - Royalties and Product Warranties (Details)	3 Months Ended
	Jun. 30, 2015
Product warranties
Warranty period	3 years

6-COMMITMENTS AND CONTINGENCIES - Legal proceedings (Details)	3 Months Ended
	Jun. 30, 2015 lawsuit item customer patent
Legal proceedings
Number of lawsuits \| lawsuit	2
Cypress Semiconductor Litigation
Legal proceedings
Number of patents infringed	5
Cypress Semiconductor International Trade Commission
Legal proceedings
Number of patents infringed	3
Number of additional patent infringement complaints	1
Number of distributors \| item	3
Number of customers who infringed patents \| customer	11
Number of terminated or dismissed patent claims	1
Cypress Semiconductor Northern District Litigation
Legal proceedings
Number of terminated or dismissed patent claims	3
Number of patent claims transferred	2

7. STOCK- BASED COMPENSATION (Details)	3 Months Ended
7. STOCK- BASED COMPENSATION (Details)	Jun. 30, 2015 USD ($) $ / shares shares
Stock-Based Compensation
Shares available for grant, Beginning	6,213,943
Options reserved (in shares)	1,156,419
Granted (in shares)	(50,590)
Forfeited (in shares)	9,864
Shares available for grant, Ending	7,329,636
Number of Shares Underlying Options Outstanding
Balance at the beginning of the period (in shares)	6,774,151
Granted (in shares)	50,590
Exercised (in shares)	(15,945)
Forfeited (in shares)	(9,864)
Balance at the end of the period (in shares)	6,798,932
Options vested and exercisable (in shares)	4,730,077
Options vested and expected to vest (in shares)	6,758,383
Weighted Average Remaining Contractual Life
Options vested and exercisable (in dollars per share)	4 years 22 days
Options vested and expected to vest (in dollars per share)	5 years 3 months 11 days
Weighted Average Exercise Price
Balance at the beginning of the period (in dollars per share) \| $ / shares	$ 5.16
Granted (in dollars per share) \| $ / shares	5.34
Exercised (in dollars per share) \| $ / shares	3.28
Forfeited (in dollars per share) \| $ / shares	4.78
Balance at the end of the period (in dollars per share) \| $ / shares	5.16
Options vested and exercisable (in dollars per share) \| $ / shares	5.02
Options vested and expected to vest (in dollars per share) \| $ / shares	$ 5.16
Intrinsic Value
Exercised (in dollars) \| $	$ 25,940
Options vested and exercisable (in dollars) \| $	3,272,981
Options vested and expected to vest (in dollars) \| $	$ 3,643,374

7. STOCK- BASED COMPENSATION (Details 2) - $ / shares	3 Months Ended
7. STOCK- BASED COMPENSATION (Details 2) - $ / shares	Jun. 30, 2015	Mar. 31, 2015
Options outstanding by exercise price
Exercise Price (in dollars per share)	$ 5.16	$ 5.16
Number of Shares Underlying Options Outstanding (in shares)	6,798,932
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 5.16
Options Outstanding, Weighted Average Remaining Contractual Life	5 years 3 months 18 days
Options Exercisable, Number Vested and Exercisable (in shares)	4,730,077
$2.43 - $3.43
Options outstanding by exercise price
Exercise Price, low end of range (in dollars per share)	$ 2.43
Exercise Price, high end of range (in dollars per share)	$ 3.43
Number of Shares Underlying Options Outstanding (in shares)	895,584
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 3.18
Options Outstanding, Weighted Average Remaining Contractual Life	3 years 7 months 6 days
Options Exercisable, Number Vested and Exercisable (in shares)	895,584
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 3.18
$3.75 - $4.00
Options outstanding by exercise price
Exercise Price, low end of range (in dollars per share)	3.75
Exercise Price, high end of range (in dollars per share)	$ 4.00
Number of Shares Underlying Options Outstanding (in shares)	812,779
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 3.96
Options Outstanding, Weighted Average Remaining Contractual Life	3 years 8 months 16 days
Options Exercisable, Number Vested and Exercisable (in shares)	812,779
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 3.96
$4.17 - $4.68
Options outstanding by exercise price
Exercise Price, low end of range (in dollars per share)	4.17
Exercise Price, high end of range (in dollars per share)	$ 4.68
Number of Shares Underlying Options Outstanding (in shares)	700,615
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 4.31
Options Outstanding, Weighted Average Remaining Contractual Life	5 years 2 months 9 days
Options Exercisable, Number Vested and Exercisable (in shares)	385,551
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 4.30
$4.81 - $5.23
Options outstanding by exercise price
Exercise Price, low end of range (in dollars per share)	4.81
Exercise Price, high end of range (in dollars per share)	$ 5.23
Number of Shares Underlying Options Outstanding (in shares)	1,076,786
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 5.05
Options Outstanding, Weighted Average Remaining Contractual Life	8 years 11 days
Options Exercisable, Number Vested and Exercisable (in shares)	266,888
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 4.91
$5.34
Options outstanding by exercise price
Exercise Price (in dollars per share)	$ 5.34
Number of Shares Underlying Options Outstanding (in shares)	50,590
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 5.34
Options Outstanding, Weighted Average Remaining Contractual Life	9 years 10 months 10 days
$5.50
Options outstanding by exercise price
Exercise Price (in dollars per share)	$ 5.50
Number of Shares Underlying Options Outstanding (in shares)	783,433
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 5.50
Options Outstanding, Weighted Average Remaining Contractual Life	1 year 4 months 17 days
Options Exercisable, Number Vested and Exercisable (in shares)	783,433
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 5.50
$5.59 - $5.76
Options outstanding by exercise price
Exercise Price, low end of range (in dollars per share)	5.59
Exercise Price, high end of range (in dollars per share)	$ 5.76
Number of Shares Underlying Options Outstanding (in shares)	695,410
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 5.70
Options Outstanding, Weighted Average Remaining Contractual Life	6 years 4 months 17 days
Options Exercisable, Number Vested and Exercisable (in shares)	288,753
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 5.70
$6.00 - $6.54
Options outstanding by exercise price
Exercise Price, low end of range (in dollars per share)	6.00
Exercise Price, high end of range (in dollars per share)	$ 6.54
Number of Shares Underlying Options Outstanding (in shares)	798,182
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 6.32
Options Outstanding, Weighted Average Remaining Contractual Life	5 years 10 months 28 days
Options Exercisable, Number Vested and Exercisable (in shares)	714,596
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 6.31
$6.61 - $7.00
Options outstanding by exercise price
Exercise Price, low end of range (in dollars per share)	6.61
Exercise Price, high end of range (in dollars per share)	$ 7.00
Number of Shares Underlying Options Outstanding (in shares)	871,933
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 6.83
Options Outstanding, Weighted Average Remaining Contractual Life	7 years 15 days
Options Exercisable, Number Vested and Exercisable (in shares)	468,873
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 6.87
$9.20
Options outstanding by exercise price
Exercise Price (in dollars per share)	$ 9.20
Number of Shares Underlying Options Outstanding (in shares)	113,620
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 9.20
Options Outstanding, Weighted Average Remaining Contractual Life	5 years 6 months 29 days
Options Exercisable, Number Vested and Exercisable (in shares)	113,620
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 9.20

7. STOCK- BASED COMPENSATION (Details 3) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Stock-based compensation expense by line item
Stock-based compensation expense	$ 474	$ 573
Other information
Income tax benefit recognized from allocation of share-based compensation expense	0	0
Windfall tax benefits recognized	0	0
Unrecognized compensation costs	$ 2,900
Weighted average period of recognition of unrecognized compensation costs	1 year 10 months 10 days
Cost of revenues
Stock-based compensation expense by line item
Stock-based compensation expense	$ 69	99
Research and Development Expense
Stock-based compensation expense by line item
Stock-based compensation expense	217	242
Selling, general and administrative
Stock-based compensation expense by line item
Stock-based compensation expense	$ 188	$ 232

7. STOCK- BASED COMPENSATION (Details 4) - $ / shares	3 Months Ended
7. STOCK- BASED COMPENSATION (Details 4) - $ / shares	Jun. 30, 2015	Jun. 30, 2014
Stock-based compensation
Weighted average fair value per underlying share of options granted (in dollars per share)	$ 1.89	$ 2.34
Employee Consultants And Directors Stock Options
Stock-based compensation
Risk-free interest rate (as a percent)	1.52%	1.66%
Expected life	5 years	5 years
Volatility (as a percent)	38.00%	44.50%
Dividend yield (as a percent)	0.00%	0.00%
Employee stock purchase plan
Stock-based compensation
Risk-free interest rate (as a percent)	0.09%	0.052%
Expected life	6 months	6 months
Volatility (as a percent)	26.30%	30.80%
Dividend yield (as a percent)	0.00%	0.00%

8. SEGMENT AND GEOGRAPHIC INFORMATION (Details) $ in Thousands	3 Months Ended
	Jun. 30, 2015 USD ($) segment	Jun. 30, 2014 USD ($)
Net revenues by geographic area
Net revenues	$ 14,025	$ 12,945
Number of reportable business segments \| segment	1
United States
Net revenues by geographic area
Net revenues	$ 5,948	3,618
China
Net revenues by geographic area
Net revenues	3,798	3,530
Malaysia
Net revenues by geographic area
Net revenues		1,603
Singapore
Net revenues by geographic area
Net revenues	1,398	1,666
Netherlands
Net revenues by geographic area
Net revenues	1,698	1,016
Rest of the world
Net revenues by geographic area
Net revenues	$ 1,183	$ 1,512