Traders Purchase Large Volume of SanDisk Corp. Put Options (SNDK)
Shares of SanDisk Corp. (NASDAQ:SNDK) was the target of unusually large options trading activity on Friday. Traders bought 9,329 put options on the stock, StockRatingsNetwork reports. This is an increase of approximately 153% compared to the typical daily volume of 3,688 put options.
In other SanDisk Corp. news, CEO Sanjay Mehrotra sold 45,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $61.07, for a total value of $2,748,150.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on SNDK. Analysts at Stifel Nicolaus raised their price target on shares of SanDisk Corp. from $70.00 to $75.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, analysts at Cowen and Company raised their price target on shares of SanDisk Corp. from $60.00 to $64.00 in a research note to investors on Monday, October 7th. They now have a “market perform” rating on the stock. Finally, analysts at B. Riley raised their price target on shares of SanDisk Corp. to $75.00 in a research note to investors on Friday, October 4th. They now have a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $67.10.
Shares of SanDisk Corp. (NASDAQ:SNDK) opened at 62.17 on Monday. SanDisk Corp. has a 1-year low of $38.47 and a 1-year high of $63.97. The stock has a 50-day moving average of $59.40 and a 200-day moving average of $58.07. The company has a market cap of $14.945 billion and a price-to-earnings ratio of 21.30.
SanDisk Corp. (NASDAQ:SNDK) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $1.21 earnings per share for the quarter, beating the analysts’ 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 previous year, the company posted $0.21 earnings per share. The company’s revenue for the quarter was up 43.0% on a year-over-year basis. On average, analysts predict that SanDisk Corp. will post $4.78 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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