Insider Selling: Netlist, Inc. (NLST) CEO Sells 24,732 Shares of Stock
Netlist, Inc. (NASDAQ:NLST) CEO Chun K. Hong sold 24,732 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $1.09, for a total value of $26,957.88. Following the completion of the sale, the chief executive officer now directly owns 85,568 shares of the company’s stock, valued at $93,269.12. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Shares of Netlist, Inc. (NLST) traded down 6.31% during midday trading on Friday, hitting $1.04. The company had a trading volume of 93,911 shares. The company has a 50-day moving average of $1.21 and a 200-day moving average of $1.07. The company’s market capitalization is $64.31 million. Netlist, Inc. has a 12 month low of $0.83 and a 12 month high of $2.19.
Netlist (NASDAQ:NLST) last released its quarterly earnings data on Thursday, May 18th. The semiconductor company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. The business had revenue of $9.43 million during the quarter, compared to analyst estimates of $8.25 million. Analysts predict that Netlist, Inc. will post ($0.07) earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Netlist by 0.4% in the first quarter. Vanguard Group Inc. now owns 1,619,687 shares of the semiconductor company’s stock worth $1,603,000 after buying an additional 6,500 shares in the last quarter. Dialectic Capital Management LP boosted its position in Netlist by 1.2% in the first quarter. Dialectic Capital Management LP now owns 1,375,882 shares of the semiconductor company’s stock worth $1,362,000 after buying an additional 16,511 shares in the last quarter. Royce & Associates LP boosted its position in Netlist by 20.1% in the first quarter. Royce & Associates LP now owns 1,200,500 shares of the semiconductor company’s stock worth $1,188,000 after buying an additional 200,500 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Netlist by 0.3% in the first quarter. Geode Capital Management LLC now owns 277,378 shares of the semiconductor company’s stock worth $274,000 after buying an additional 906 shares in the last quarter. Hedge funds and other institutional investors own 31.74% of the company’s stock.
Several research firms have recently issued reports on NLST. B. Riley reaffirmed a “buy” rating and issued a $2.80 price objective on shares of Netlist in a research note on Monday, May 15th. Zacks Investment Research raised Netlist from a “hold” rating to a “buy” rating and set a $1.00 price objective for the company in a research note on Saturday, April 1st.
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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