Insider Selling: SanDisk Corp. CAO Sells 15,593 Shares of Stock (SNDK)
SanDisk Corp. (NASDAQ:SNDK) CAO Donald Robertson, Jr. sold 15,593 shares of SanDisk Corp. stock on the open market in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $70.15, for a total value of $1,093,848.95. Following the sale, the chief accounting officer now directly owns 3,704 shares in the company, valued at approximately $259,836. The sale was disclosed in a filing with the SEC, which is available at this link.
Shares of SanDisk Corp. (NASDAQ:SNDK) traded down 0.52% during mid-day trading on Thursday, hitting $69.495. 4,089,574 shares of the company’s stock traded hands. SanDisk Corp. has a one year low of $38.47 and a one year high of $63.97. The stock has a 50-day moving average of $63.32 and a 200-day moving average of $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 investors bought 30,601 call options on the stock. This represents an increase of 167% compared to the average daily 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 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. On average, analysts predict that SanDisk Corp. will post $5.19 earnings per share 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 1.30%. The ex-dividend date of this dividend is Thursday, October 31st.
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 analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $70.65.
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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