SanDisk Corp. Price Target Increased to $75.00 by Analysts at Jefferies Group (SNDK)
Stock analysts at Jefferies Group raised their price target on shares of SanDisk Corp. (NASDAQ:SNDK) to $75.00 in a report issued on Thursday, AmericanBankingNews.com reports. The firm currently has a “buy” rating on the stock. Jefferies Group’s target price points to a potential upside of 19.16% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. 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. Separately, 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. Finally, analysts at RBC Capital raised their price target on shares of SanDisk Corp. from $76.00 to $82.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $68.27.
In other SanDisk Corp. news, CEO Sanjay Mehrotra unloaded 45,000 shares of the stock on the open market in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $61.07, for a total value of $2,748,150.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of SanDisk Corp. (NASDAQ:SNDK) traded up 7.85% on Thursday, hitting $67.8838. 8,264,274 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 $60.01 and a 200-day moving average of $58.24. The company has a market cap of $16.319 billion and a price-to-earnings ratio of 21.53.
SanDisk Corp. (NASDAQ:SNDK) last posted its quarterly earnings results on Wednesday, October 16th. The company reported $1.59 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.48 earnings per share. The company’s quarterly revenue was up 27.7% on a year-over-year basis. 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. Stockholders 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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