Traders Buy High Volume of SanDisk Corp. Call Options (SNDK)
Shares of SanDisk Corp. (NASDAQ:SNDK) was the target of some unusual options trading activity on Wednesday. Investors bought 19,718 call options on the company, ARN reports. This is an increase of 301% compared to the typical volume of 4,920 call options.
A number of research firms have recently commented on SNDK. 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 analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $70.78.
Shares of SanDisk Corp. (NASDAQ:SNDK) traded down 0.97% during mid-day trading on Thursday, hitting $72.74. The stock had a trading volume of 1,013,599 shares. SanDisk Corp. has a one year low of $45.11 and a one year high of $73.92. The stock has a 50-day moving average of $68.45 and a 200-day moving average of $63.16. The company has a market cap of $16.431 billion and a price-to-earnings ratio of 19.43.
SanDisk Corp. (NASDAQ:SNDK) last issued its quarterly earnings data on Wednesday, October 16th. The company reported $1.59 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.48 earnings per share. The company’s quarterly revenue 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.
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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