Insider Selling: Eddy Hartenstein Sells 31,250 Shares of SanDisk Corp. Stock (SNDK)
SanDisk Corp. (NASDAQ:SNDK) Director Eddy Hartenstein unloaded 31,250 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $70.19, for a total value of $2,193,437.50. Following the sale, the director now directly owns 25,064 shares in the company, valued at approximately $1,759,242. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on SNDK. Analysts at Merrill Lynch downgraded shares of SanDisk Corp. from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday. Separately, analysts at Bank of America Corp. downgraded shares of SanDisk Corp. from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday. They now have a $75.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at BMO Capital Markets upgraded shares of SanDisk Corp. from an “underperform” rating to a “market perform” rating in a research note to investors on Tuesday, October 22nd. They now have a $70.00 price target on the stock, up previously from $40.00. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $70.65.
Shares of SanDisk Corp. (NASDAQ:SNDK) traded down 0.52% during mid-day trading on Thursday, hitting $69.495. The stock had a trading volume of 4,089,574 shares. SanDisk Corp. has a 1-year low of $38.47 and a 1-year high of $63.97. The stock’s 50-day moving average is $63.32 and its 200-day moving average is $59.20. The company has a market cap of $15.698 billion and a price-to-earnings ratio of 18.48. SanDisk Corp. also saw some unusual options trading activity on Wednesday. Stock traders purchased 30,601 call options on the stock. This represents an increase of approximately 167% compared to the typical volume of 11,454 call options.
SanDisk Corp. (NASDAQ:SNDK) last released its earnings data 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. On average, analysts predict that SanDisk Corp. will post $5.19 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, November 25th. Shareholders of record on Monday, November 4th will be paid a dividend of $0.23 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.30%. The ex-dividend date 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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