B. Riley Reiterates “Buy” Rating for Netlist, Inc. (NLST)
Netlist, Inc. (NASDAQ:NLST)‘s stock had its “buy” rating reaffirmed by analysts at B. Riley in a report issued on Friday. They currently have a $2.46 target price on the semiconductor company’s stock. B. Riley’s price objective would suggest a potential upside of 310.00% from the company’s current price.
Separately, Zacks Investment Research downgraded Netlist from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 19th.
Netlist (NASDAQ NLST) opened at 0.60 on Friday. Netlist has a 12 month low of $0.58 and a 12 month high of $2.19. The stock’s 50 day moving average price is $1.07 and its 200 day moving average price is $1.08. The company’s market capitalization is $37.15 million.
Netlist (NASDAQ:NLST) last posted its earnings results on Thursday, August 10th. The semiconductor company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $11.40 million during the quarter, compared to the consensus estimate of $10.65 million. Equities research analysts anticipate that Netlist will post ($0.10) earnings per share for the current fiscal year.
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In related news, 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 value of $26,957.88. Following the sale, the chief executive officer now directly owns 85,568 shares in the company, valued at $93,269.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Chun K. Hong sold 74,206 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $1.12, for a total value of $83,110.72. Following the sale, the chief executive officer now directly owns 85,568 shares in the company, valued at $95,836.16. The disclosure for this sale can be found here. Insiders sold 200,200 shares of company stock worth $228,545 over the last quarter. 15.42% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the company. Penn Capital Management Co. Inc. bought a new stake in shares of Netlist during the third quarter valued at $1,367,000. B. Riley Financial Inc. bought a new stake in shares of Netlist during the third quarter valued at $906,000. AWM Investment Company Inc. boosted its stake in shares of Netlist by 14.3% in the third quarter. AWM Investment Company Inc. now owns 5,680,928 shares of the semiconductor company’s stock valued at $7,044,000 after buying an additional 711,385 shares during the last quarter. Fortress Investment Group LLC bought a new stake in shares of Netlist during the second quarter valued at $788,000. Finally, Royce & Associates LP boosted its stake in shares of 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. 31.74% of the stock is currently owned by institutional investors.
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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