$10.65 Million in Sales Expected for Netlist, Inc. (NLST) This Quarter
Equities research analysts predict that Netlist, Inc. (NASDAQ:NLST) will post $10.65 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Netlist’s earnings, with estimates ranging from $10.00 million to $11.30 million. Netlist posted sales of $6.93 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 53.7%. The business is expected to issue its next earnings results on Wednesday, August 2nd.
According to Zacks, analysts expect that Netlist will report full-year sales of $10.65 million for the current financial year, with estimates ranging from $45.50 million to $62.30 million. For the next fiscal year, analysts expect that the business will post sales of $85.80 million per share, with estimates ranging from $79.20 million to $92.40 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Netlist.
Netlist (NASDAQ:NLST) last posted 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 firm had revenue of $9.43 million for the quarter, compared to analysts’ expectations of $8.25 million.
Several research firms have recently weighed in on NLST. B. Riley reiterated a “buy” rating and set a $2.80 price objective on shares of Netlist in a report on Monday, May 15th. Zacks Investment Research upgraded Netlist from a “hold” rating to a “buy” rating and set a $1.00 price objective on the stock in a report on Saturday, April 1st.
Shares of Netlist (NLST) opened at 1.12 on Friday. The stock’s market capitalization is $69.26 million. The stock has a 50 day moving average of $1.16 and a 200-day moving average of $1.07. Netlist has a 52-week low of $0.83 and a 52-week high of $2.19.
In other news, CEO Chun K. Hong sold 24,732 shares of Netlist stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $1.09, for a total transaction of $26,957.88. Following the transaction, the chief executive officer now owns 85,568 shares in the company, valued at approximately $93,269.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Chun K. Hong sold 74,206 shares of Netlist stock in a transaction dated 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 owns 85,568 shares in the company, valued at approximately $95,836.16. The disclosure for this sale can be found here. Insiders have sold a total of 200,200 shares of company stock worth $228,545 in the last quarter. 15.42% of the stock is currently owned by company insiders.
An institutional investor recently raised its position in Netlist stock. Royce & Associates LP raised its stake in shares of Netlist, Inc. (NASDAQ:NLST) by 20.1% during the first quarter, according to its most recent filing with the SEC. The fund owned 1,200,500 shares of the semiconductor company’s stock after buying an additional 200,500 shares during the period. Royce & Associates LP owned about 1.95% of Netlist worth $1,188,000 at the end of the most recent quarter. Institutional investors and hedge funds own 31.74% of the company’s stock.
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Netlist Company Profile
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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