Investors Purchase High Volume of SanDisk Corp. Put Options (SNDK)
SanDisk Corp. (NASDAQ:SNDK) was the target of unusually large options trading on Wednesday. Stock traders bought 20,462 put options on the stock, AnalystRatingsNetwork.com reports. This represents an increase of 334% compared to the average daily volume of 4,717 put options.
A number of analysts have recently weighed in on SNDK shares. Analysts at Nomura downgraded shares of SanDisk Corp. from a “neutral” rating to a “reduce” rating in a research note to investors on Thursday, December 12th. They now have a $56.00 price target on the stock, down previously from $66.00. Separately, analysts at Sterne Agee reiterated an “in-line” rating on shares of SanDisk Corp. in a research note to investors on Wednesday, December 4th. They now have a $67.90 price target on the stock, down previously from $74.00. Finally, analysts at Drexel Hamilton initiated coverage on shares of SanDisk Corp. in a research note to investors on Wednesday, November 13th. They set a “buy” rating and a $80.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $70.78.
Shares of SanDisk Corp. (NASDAQ:SNDK) traded up 6.02% during mid-day trading on Wednesday, hitting $73.45. 9,634,367 shares of the company’s stock traded hands. SanDisk Corp. has a 1-year low of $45.06 and a 1-year high of $70.93. The stock’s 50-day moving average is $68.27 and its 200-day moving average is $63.09. The company has a market cap of $16.592 billion and a P/E ratio of 18.32.
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. On average, analysts predict that SanDisk Corp. will post $5.19 earnings per share for the current fiscal year.
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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