Zacks Investment Research Upgrades Netlist, Inc. (NLST) to “Hold”
Zacks Investment Research upgraded shares of Netlist, Inc. (NASDAQ:NLST) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.
According to Zacks, “Netlist, Inc. designs and manufactures high performance memory subsystems for the server, high performance computing and communications markets. The company’s memory subsystems are developed for applications in which memory plays a key role in enabling overall system performance. These applications include tower servers, rack-mounted servers, blade servers, high performance computing clusters, engineering workstations and telecommunication switches. “
Separately, B. Riley restated a buy rating and issued a $2.80 price objective on shares of Netlist in a report on Thursday, March 30th.
Netlist (NLST) opened at 1.21 on Wednesday. The stock’s 50 day moving average is $1.09 and its 200-day moving average is $1.08. Netlist has a 12 month low of $0.83 and a 12 month high of $2.19. The stock’s market capitalization is $74.82 million.
Netlist (NASDAQ:NLST) last issued its quarterly earnings data on Thursday, May 18th. The semiconductor company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.01. The company had revenue of $9.43 million during the quarter, compared to analyst estimates of $8.25 million. On average, equities research analysts expect that Netlist will post ($0.07) earnings per share for the current year.
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In other news, CEO Chun K. Hong sold 74,206 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $1.12, for a total value of $83,110.72. Following the transaction, the chief executive officer now directly owns 85,568 shares in the company, valued at approximately $95,836.16. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Chun K. Hong sold 101,262 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $1.17, for a total transaction of $118,476.54. Following the completion of the transaction, the chief executive officer now owns 85,568 shares in the company, valued at $100,114.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 200,200 shares of company stock worth $228,545. Company insiders own 15.42% of the company’s stock.
A hedge fund recently raised its stake in Netlist stock. Dialectic Capital Management LP increased its stake in Netlist, Inc. (NASDAQ:NLST) by 1.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,375,882 shares of the semiconductor company’s stock after buying an additional 16,511 shares during the period. Netlist makes up approximately 0.9% of Dialectic Capital Management LP’s investment portfolio, making the stock its 20th largest position. Dialectic Capital Management LP owned about 2.23% of Netlist worth $1,362,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 31.74% of the company’s stock.
Netlist, Inc designs, manufactures and sells a range of memory subsystems for datacenter, data storage and computing markets. The Company operates in the segment of design and manufacture of memory subsystems for the server, computing and communications markets. The Company’s memory subsystems consist of combinations of dynamic random access memory integrated circuits (DRAM ICs or DRAM), NAND flash memory (NAND flash), application-specific integrated circuits (ASICs) and other components assembled on printed circuit boards (PCBs).
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