SanDisk Corp. PT Raised to $79.00 at B. Riley (SNDK)
Equities researchers at B. Riley raised their target price on shares of SanDisk Corp. (NASDAQ:SNDK) to $79.00 in a research report issued on Thursday, Analyst Ratings Network reports. The firm currently has a “buy” rating on the stock. B. Riley’s target price points to a potential upside of 15.33% from the company’s current price.
In other SanDisk Corp. news, CEO Sanjay Mehrotra sold 45,000 shares of the stock on the open market in a transaction that occurred on 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 legal filing with the SEC, which is available at this link.
A number of other analysts have also recently weighed in on SNDK. Analysts at Jefferies Group raised their price target on shares of SanDisk Corp. from $71.00 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 investment analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $68.83.
Shares of SanDisk Corp. (NASDAQ:SNDK) traded up 8.83% during mid-day trading on Thursday, hitting $68.50. 13,680,201 shares of the company’s stock traded hands. SanDisk Corp. has a one year low of $38.47 and a one year 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 posted its quarterly 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. 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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