SanDisk Corp. CEO Sells $3,250,000 in Stock (SNDK)
SanDisk Corp. (NASDAQ:SNDK) CEO Sanjay Mehrotra sold 50,000 shares of SanDisk Corp. stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $65.00, for a total value of $3,250,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
SanDisk Corp. (NASDAQ:SNDK) traded up 8.83% during mid-day trading on Thursday, hitting $68.50. The stock had a trading volume of 13,680,301 shares. SanDisk Corp. has a 1-year low of $38.47 and a 1-year high of $68.55. The stock has a 50-day moving average of $60.39 and a 200-day moving average of $58.3. The company has a market cap of $16.467 billion and a price-to-earnings ratio of 21.53.
SanDisk Corp. (NASDAQ:SNDK) last announced its earnings results on Wednesday, October 16th. The company reported $1.59 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.48 earnings per share. SanDisk Corp.’s revenue was up 27.7% compared to the same quarter last year. On average, analysts predict that SanDisk Corp. will post $4.80 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, November 25th. Shareholders 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.
A number of research firms have recently commented on SNDK. Analysts at Piper Jaffray Cos. raised their price target on shares of SanDisk Corp. from $75.00 to $78.00 in a research note to investors on Thursday. They now have an “overweight” rating on the stock. Separately, 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. Finally, 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. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. SanDisk Corp. currently has a consensus rating of “Buy” and a consensus price target of $68.93.
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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