We have performed an investigation of random telegraph switchings and hysteresis in I–V of a short‐channel GaAs MESFET, when the conductance shows insulating behavior. We have seen that, in the voltage‐fixed regime, the switching rate of the current exponentially depends on the bias and magnetic field. Measurements of I–V in the current‐controlled regime have shown that the origin of these switchings is in an S‐type behavior of I–V. In the S region, random jumps of the voltage have also been detected, as well as its periodic oscillations. We perform a comparative study of the current and voltage switchings and discuss their origin.