SanDisk Corp. Price Target Increased to $82.00 by Analysts at RBC Capital (SNDK)
Investment analysts at RBC Capital hoisted their target price on shares of SanDisk Corp. (NASDAQ:SNDK) from $76.00 to $82.00 in a note issued to investors on Thursday, AnalystRatings.NET reports. The firm currently has an “outperform” rating on the stock. RBC Capital’s target price would indicate a potential upside of 19.71% from the stock’s previous close.
Shares of SanDisk Corp. (NASDAQ:SNDK) traded up 8.83% on Thursday, hitting $68.50. The stock had a trading volume of 13,680,301 shares. 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 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. 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. 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 1.31%. The ex-dividend date of this dividend is Thursday, October 31st.
In other SanDisk Corp. news, CEO Sanjay Mehrotra sold 45,000 shares of the company’s stock 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 transaction was disclosed in a filing with the SEC, which is available at this link.
A number of other analysts have also recently weighed in on SNDK. Analysts at Wedbush raised their price target on shares of SanDisk Corp. from $69.00 to $71.00 in a research note to investors on Monday. They now have an “outperform” rating on the stock. Separately, 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, October 11th. They now have a “buy” rating on the stock. Finally, 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. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. SanDisk Corp. has an average rating of “Buy” and an average 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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