Why the 4DS Memory (ASX:4DS) share price is charging 8% higher

The 4DS Memory share price is charging higher, up more than 8%. We look at the latest quarterly report from the ASX technology share.

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The 4DS Memory Ltd (ASX: 4DS) share price is charging higher today, up more than 8% in late morning trade.

Below we take a look at the ASX technology share’s latest quarterly activity report.

What did 4DS Memory report for the quarter?

The 4DS Memory share price is soaring after the company reported it had completed testing of its Second Non-Platform Lot, with positive results.

The memory storage provider said it managed to repeat the results for “each of the key memory characteristics (speed, endurance and retention)” which it had achieved with its First Non-Platform Lot.

In a milestone achievement for the company, it reported that 19 of the 21 device wafers were functional. 4DS noted that both non-functional wafers “were the result of being manufactured outside the imec process window”.

In a further boost to the 4DS Memory share price, the company said the latest testing has increased its knowledge of how changing key process parameters impact key memory characteristics. This could enable it to manipulate the process parameters to increase memory characteristics.

imec and Western Digital have been providing support and technical input for the project.

Earlier in the quarter, 4DS reported that production of the Second Platform Lot had started at imec’s Belgium facilities. 

In this morning’s update, 4DS said that production remains on track. Barring unexpected equipment issues or new impacts from COVID-19, it expects to analyse these wafers during the current quarter (Q2) and provide the market with results late in this quarter.

Financial summary and index inclusion

4DS reported it held $5.5 million of cash as at 31 March, down from $6.5 million at the end of the previous quarter. Just under $1 million was used for operating activities.

In a win for the company, it was admitted to the S&P/ASX All Technology Index (ASX: XTX) on 22 March.

4DS Memory share price snapshot

Over the past 12 months, the 4DS Memory share price is up an eye-popping 388%. By comparison, the All Ordinaries Index (ASX: XAO) is up 32% at the same time, whilst the All Tech index has gained 79%.

Year-to-date 4DS Memory shares are up 39%.

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Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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