Netlist’s (NLST) Buy Rating Reiterated at B. Riley
Netlist, Inc. (NASDAQ:NLST)‘s stock had its “buy” rating restated by equities research analysts at B. Riley in a research report issued on Monday. They currently have a $2.80 target price on the semiconductor company’s stock. B. Riley’s price objective would indicate a potential upside of 150.00% from the stock’s previous close.
Separately, Zacks Investment Research raised shares of Netlist from a “sell” rating to a “hold” rating in a research note on Wednesday, July 26th.
Netlist (NLST) traded up 1.82% during mid-day trading on Monday, hitting $1.12. 83,330 shares of the company were exchanged. Netlist has a 12-month low of $0.83 and a 12-month high of $2.19. The company’s market capitalization is $69.26 million. The company’s 50-day moving average is $1.09 and its 200 day moving average is $1.08.
Netlist (NASDAQ:NLST) last posted its quarterly earnings results on Thursday, May 18th. The semiconductor company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.01. The company had revenue of $9.43 million during the quarter, compared to the consensus estimate of $8.25 million. Analysts expect that Netlist will post ($0.07) EPS for the current year.
In other news, CEO Chun K. Hong sold 101,262 shares of the business’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $1.17, for a total transaction of $118,476.54. Following the completion of the sale, the chief executive officer now directly owns 85,568 shares of the company’s stock, valued at $100,114.56. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Chun K. Hong sold 24,732 shares of the business’s 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 sale, the chief executive officer now directly owns 85,568 shares of the company’s stock, valued at $93,269.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 200,200 shares of company stock valued at $228,545. 12.32% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of the company. Royce & Associates LP increased its stake in Netlist by 20.1% in the first quarter. Royce & Associates LP now owns 1,200,500 shares of the semiconductor company’s stock valued at $1,188,000 after buying an additional 200,500 shares during the last quarter. Dialectic Capital Management LP increased its stake 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 valued at $1,362,000 after buying an additional 16,511 shares during the last quarter. Fortress Investment Group LLC increased its stake in Netlist by 130.2% in the fourth quarter. Fortress Investment Group LLC now owns 1,070,654 shares of the semiconductor company’s stock valued at $1,092,000 after buying an additional 605,599 shares during the last quarter. Penn Capital Management Co. Inc. acquired a new stake in Netlist during the third quarter valued at approximately $1,367,000. Finally, B. Riley Financial Inc. acquired a new stake in Netlist during the third quarter valued at approximately $906,000. 31.74% of the stock is owned by institutional investors.
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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