Netlist Enters Into Strategic Agreements With SK hynix


Memory and storage products and solutions provider Netlist Inc. entered into key agreements with SK hynix Inc. These include a patent cross-license (covering memory technologies) agreement and an agreement for the supply of SK hynix products and technical cooperation on Netlist’s CXL HybriDIMM technology.

Netlist (NLST) Chief Executive Officer C. K. Hong said, “We are delighted with the recognition of the value of Netlist’s intellectual property and very much look forward to partnering with SK hynix, a global leader in memory and storage technology.”

SK hynix is a semiconductor supplier, and its products include Dynamic Random Access Memory Chips (DRAM), Flash memory chips (NAND Flash), and CMOS Image Sensors (CIS). (See Netlist stock analysis on TipRanks)

Under the agreements, SK hynix will have access to Netlist’s patent portfolio. Netlist will receive royalties from SK hynix and will have a cross-license for its patent portfolio as well as memory and storage products.

The two companies also plan to collaborate on Netlist’s HD CXL technology, which will be commercialized in the future.

Last month, Roth Capital analyst Sujeeva De Silva reiterated a Buy rating on the stock with a $1.50 price target (11.8% downside potential).

De Silva commented, “NLST reported healthy growth and recovery in 4Q20 revenue ahead of consensus reflecting stabilizing storage/memory industry dynamics and recovering data center demand. We believe that NLST’s intermediate-term SSD/hybrid memoryopportunity remains healthy and that key litigation catalysts have meaningful upcoming milestones for the company.”

The other analyst covering the stock, Craig-Hallum’s Richard Shannon, has a Hold rating on the stock with a $1 price target (41.2% downside potential).

The two ratings add up to a Moderate Buy consensus rating alongside an average analyst price target of $1.25 (26.5% downside potential). Shares have gained about 456.7% over the past year.

Related News:
Abbott’s BinaxNOW COVID-19 Ag Self Test Cleared For Emergency Use In US
Acuity Brands Pops 13% After 2Q Earnings Beat, Sales Disappoint
United Therapeutics Receives FDA Approval For Tyvaso Therapy; Shares Pop 15%

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts