SanDisk Corp. Hits New 52-Week High at $68.25 (SNDK)
Shares of SanDisk Corp. (NASDAQ:SNDK) hit a new 52-week high during trading hours on Thursday, Analyst Ratings.Net reports. The company traded as high as $68.25 and last traded at $67.77, with a volume of 10,702,476 shares trading hands. The stock had previously closed at $62.94.
Several analysts have recently commented on the stock. Analysts at Jefferies Group raised their price target on shares of SanDisk Corp. to $75.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Pacific Crest raised their price target on shares of SanDisk Corp. from $70.00 to $74.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Finally, analysts at Needham & Company upgraded shares of SanDisk Corp. from a “buy” rating to a “strong-buy” rating in a research note to investors on Thursday. They now have a $90.00 price target on the stock, up previously from $80.00. Two research 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 issued a strong buy rating to the stock. SanDisk Corp. currently has an average rating of “Buy” and an average price target of $68.27.
In other SanDisk Corp. news, CEO Sanjay Mehrotra sold 45,000 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $61.07, for a total value of $2,748,150.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.
SanDisk Corp. has a one year low of $38.47 and a one year high of $63.97. The stock’s 50-day moving average is $60.01 and its 200-day moving average is $58.24. The company has a market cap of $16.296 billion and a P/E 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 (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. 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 1.43%.
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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