Netlist (NASDAQ:NLST) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Netlist (NASDAQ:NLST) from a hold rating to a buy rating in a report published on Wednesday, reports. Zacks Investment Research currently has $0.25 price target on the semiconductor company’s stock.

According to Zacks, “Netlist, Inc. designs and manufactures high performance memory subsystems for the server, high performance computing and communications markets. The company’s memory subsystems are developed for applications in which memory plays a key role in enabling overall system performance. These applications include tower servers, rack-mounted servers, blade servers, high performance computing clusters, engineering workstations and telecommunication switches. “

Shares of NLST remained flat at $$0.31 on Wednesday. 27,376 shares of the company traded hands, compared to its average volume of 544,514. The business has a 50 day moving average of $0.34. Netlist has a 12 month low of $0.10 and a 12 month high of $1.10.

Netlist (NASDAQ:NLST) last announced its quarterly earnings results on Thursday, August 8th. The semiconductor company reported ($0.02) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.02). The firm had revenue of $5.51 million for the quarter, compared to the consensus estimate of $6.00 million.

In other Netlist news, CEO Chun K. Hong sold 150,000 shares of Netlist stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $0.35, for a total value of $52,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 12.90% of the company’s stock.

Netlist Company Profile

Netlist, Inc designs, manufactures, and sells modular memory subsystems for the server, high-performance computing, and communications markets worldwide. It offers Hybri dual in-line memory module (DIMM), a storage class memory product, which unifies dynamic random access memory (DRAM)and NAND flash in a plug-and-play module delivering terabyte storage capacities operating at nanosecond memory speeds.

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