Piper Jaffray Cos. Increases SanDisk Corp. Price Target to $78.00 (SNDK)
Analysts at Piper Jaffray Cos. raised their target price on shares of SanDisk Corp. (NASDAQ:SNDK) from $75.00 to $78.00 in a research report issued to clients and investors on Thursday, AmericanBankingNews.com reports. The firm currently has an “overweight” rating on the stock. Piper Jaffray Cos.’s price objective points to a potential upside of 13.87% from the company’s current price.
In other SanDisk Corp. news, CEO Sanjay Mehrotra unloaded 45,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $61.07, for a total transaction of $2,748,150.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Several other analysts have also recently commented on the stock. Analysts at Susquehanna raised their price target on shares of SanDisk Corp. from $77.00 to $80.00 in a research note to investors on Thursday. They now have a “positive” rating on the stock. Separately, analysts at Morgan Stanley raised their price target on shares of SanDisk Corp. from $66.00 to $71.00 in a research note to investors on Thursday. They now have an “equal weight” rating on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of SanDisk Corp. from $70.00 to $75.00 in a research note to investors on Thursday. They now have a “neutral” rating on the stock. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $68.93.
Shares of SanDisk Corp. (NASDAQ:SNDK) traded up 8.83% during mid-day trading on Thursday, hitting $68.50. 13,680,301 shares of the company’s stock traded hands. SanDisk Corp. has a 52-week low of $38.47 and a 52-week high of $68.55. The stock’s 50-day moving average is $60.39 and its 200-day moving average is $58.3. The company has a market cap of $16.467 billion and a P/E ratio of 21.53.
SanDisk Corp. (NASDAQ:SNDK) last issued its quarterly earnings data on Wednesday, October 16th. The company reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.28. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the previous year, the company posted $0.48 earnings per share. The company’s revenue for the quarter was up 27.7% on a year-over-year basis. Analysts expect that SanDisk Corp. will post $4.80 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, November 25th. Investors of record on Monday, November 4th will be given a dividend of $0.23 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend is Thursday, October 31st.
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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