Zacks Investment Research cut shares of Netlist, Inc. (NASDAQ:NLST) from a buy rating to a hold rating in a report issued on Saturday morning.

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. “

Several other equities research analysts also recently weighed in on NLST. B. Riley reissued a buy rating and set a $2.80 price target on shares of Netlist in a research report on Monday, August 7th. ValuEngine downgraded shares of Netlist from a sell rating to a strong sell rating in a research report on Friday, September 1st. Finally, Roth Capital assumed coverage on shares of Netlist in a research report on Thursday, August 24th. They set a buy rating and a $2.00 price target for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $2.30.

Netlist (NASDAQ:NLST) opened at 0.74 on Friday. Netlist has a 1-year low of $0.55 and a 1-year high of $1.40. The firm’s market cap is $45.82 million. The firm’s 50-day moving average price is $0.81 and its 200-day moving average price is $1.03.

Netlist (NASDAQ:NLST) last announced its quarterly earnings results on Thursday, August 10th. The semiconductor company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.01). The company had revenue of $11.40 million for the quarter, compared to the consensus estimate of $10.65 million. Equities research analysts anticipate that Netlist will post ($0.16) earnings per share for the current fiscal year.

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Hedge funds have recently modified their holdings of the stock. Royce & Associates LP boosted its holdings in Netlist by 20.1% in the first quarter. Royce & Associates LP now owns 1,200,500 shares of the semiconductor company’s stock worth $1,188,000 after purchasing an additional 200,500 shares during the last quarter. Dialectic Capital Management LP boosted its holdings 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 worth $1,362,000 after purchasing an additional 16,511 shares during the last quarter. Finally, B. Riley Financial Inc. boosted its holdings in Netlist by 42.9% in the second quarter. B. Riley Financial Inc. now owns 1,351,013 shares of the semiconductor company’s stock worth $1,378,000 after purchasing an additional 405,375 shares during the last quarter. Institutional investors own 19.35% of the company’s stock.

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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