Traders Purchase Large Volume of Call Options on SanDisk Corp. (SNDK)
SanDisk Corp. (NASDAQ:SNDK) was the recipient of some unusual options trading on Friday. Investors bought 14,963 call options on the stock, ARN reports. This represents an increase of approximately 150% compared to the typical daily volume of 5,989 call options.
Several analysts have recently commented on the stock. Analysts at B. Riley raised their price target on shares of SanDisk Corp. (NASDAQ:SNDK) to $75.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, analysts at Argus reiterated a “buy” rating on shares of SanDisk Corp. (NASDAQ:SNDK) in a research note to investors on Thursday. They now have a $70.00 price target on the stock. Finally, analysts at RBC Capital reiterated an “outperform” rating on shares of SanDisk Corp. (NASDAQ:SNDK) in a research note to investors on Friday, September 13th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-two have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $66.79.
Shares of SanDisk Corp. (NASDAQ:SNDK) traded up 1.87% during mid-day trading on Friday, hitting $62.69. 4,534,122 shares of the company’s stock traded hands. SanDisk Corp. has a 52-week low of $38.47 and a 52-week high of $63.97. The stock has a 50-day moving average of $58.36 and a 200-day moving average of $57.76. The company has a market cap of $15.070 billion and a P/E ratio of 21.05.
SanDisk Corp. (NASDAQ:SNDK) last released its earnings data on Wednesday, July 17th. The company reported $1.21 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.93 by $0.28. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the company posted $0.21 earnings per share. The company’s quarterly revenue was up 43.0% on a year-over-year basis. On average, analysts predict that SanDisk Corp. will post $4.77 earnings per share for the current fiscal year.
SanDisk Corporation designs, develops and manufactures data storage solutions in a range of form factors using its flash memory, controller and firmware technologies.
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