Insider Selling: Netlist, Inc. (NLST) CEO Sells 101,262 Shares of Stock

Netlist, Inc. (NASDAQ:NLST) CEO Chun K. Hong sold 101,262 shares of the 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 transaction, the chief executive officer now directly owns 85,568 shares in the company, valued at $100,114.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Shares of Netlist, Inc. (NASDAQ NLST) traded down 6.31% on Friday, hitting $1.04. 93,911 shares of the stock traded hands. The stock’s market cap is $64.31 million. The stock has a 50 day moving average price of $1.21 and a 200-day moving average price of $1.07. Netlist, Inc. has a 52 week low of $0.83 and a 52 week high of $2.19.

Netlist (NASDAQ:NLST) last posted its quarterly earnings results on Thursday, May 18th. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.01. The business had revenue of $9.43 million during the quarter, compared to the consensus estimate of $8.25 million. On average, equities research analysts forecast that Netlist, Inc. will post ($0.07) EPS for the current year.

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Several hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC raised its stake in Netlist by 0.3% in the first quarter. Geode Capital Management LLC now owns 277,378 shares of the semiconductor company’s stock valued at $274,000 after buying an additional 906 shares during the period. Vanguard Group Inc. raised its stake in Netlist by 0.4% in the first quarter. Vanguard Group Inc. now owns 1,619,687 shares of the semiconductor company’s stock valued at $1,603,000 after buying an additional 6,500 shares during the period. Royce & Associates LP raised 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 period. Dialectic Capital Management LP raised 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 period. Finally, Fortress Investment Group LLC raised 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 period. 31.74% of the stock is currently owned by institutional investors.

Several research firms have weighed in on NLST. B. Riley reissued a “buy” rating and issued a $2.80 price target on shares of Netlist in a report on Monday, May 15th. Zacks Investment Research raised shares of Netlist from a “hold” rating to a “buy” rating and set a $1.00 price target on the stock in a report on Saturday, April 1st.

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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