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In recent transactions, Gail M. Sasaki, Executive Vice President and Chief Financial Officer; netlist Inc. (NASDAQ:OTC:) sold a total of 20,830 shares of its common stock for proceeds of over $35,000. The sales took place on March 15 and March 18, with prices ranging from $1.580 to $1.815 per share.
The first sale on March 15th involved 10,415 shares at a weighted average price of $1.791, and the second sale on March 18th had a lower weighted average price of $1.6162 with 10,415 shares. These transactions are part of a “sell to cover” strategy to satisfy withholding tax obligations associated with vesting of restricted stock units, indicating that they were not discretionary transactions on Mr. Sasaki's part.
Following these transactions, Mr. Sasaki's remaining direct ownership interest in Netlist includes 282,933 shares, representing both vested and unvested restricted stock units. Details of the exact number of shares sold at each price within the reporting range will be provided by Sasaki upon request, as set out in the footnotes of the filing.
Netlist is based in Irvine, California and operates in the semiconductor and related devices industry. The company's recent stock activity, including by management, has been closely watched by investors who seek insider credibility and insight into company performance.
Investment Pro Insights
Netlist Inc. (NASDAQ:NLST) has recently attracted the attention of investors not only due to the stock trading by its executives, but also due to its financial performance metrics. According to InvestingPro, Netlist's market capitalization is modest at $425.77 million, reflecting the company's size in the highly competitive semiconductor industry. Despite the challenging environment, Netlist has shown strong quarterly revenue growth of 54.39% in his first quarter of 2023, which may indicate a positive change in the company's sales dynamics.
However, there are some concerns about the company's financial health. Profitability remains elusive, with a P/E ratio of -6.77 and an adjusted trailing twelve months of -12.06 as of Q4 2023. The PEG ratio for the same period was 0.09, which could indicate potential for future growth if the company can pivot in a direction that emphasizes profitability. Additionally, his gross profit margin is low at 3.46%, indicating that Netlist is currently generating little profit from its revenue.
InvestingPro Tips suggests that investors should consider the company's recent stock price movement and valuation metrics. Netlist stock has recorded a total return of 36.89% in the past three months, but the total return for the year has significantly decreased to -54.18%. These fluctuations can indicate market volatility and investor sentiment regarding a company's growth prospects and management challenges.
For investors who want to learn more about Netlist's financials and stock performance, InvestingPro provides additional insights. 15 more of her InvestingPro tips are available that can provide valuable context for understanding a netlist's current position and future prospects.Use coupon code pro news 24 Get an extra 10% off annual or biennial Pro and Pro+ subscriptions and uncover all the data and expert analysis to help you make investment decisions.
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