SanDisk Corp. Sees Unusually Large Options Volume (SNDK)
Shares of SanDisk Corp. (NASDAQ:SNDK) saw unusually large options trading activity on Wednesday. Stock traders acquired 18,483 put options on the company, Analyst Ratings Network reports. This is an increase of 175% compared to the average daily volume of 6,724 put options.
In other SanDisk Corp. news, CEO Sanjay Mehrotra unloaded 75,000 shares of the company’s stock on the open market in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $72.20, for a total value of $5,415,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on SNDK. Analysts at S&P Equity Research downgraded shares of SanDisk Corp. to a “hold” rating in a research note to investors on Wednesday. Separately, analysts at Bank of America Corp. downgraded shares of SanDisk Corp. from a “neutral” rating to an “underperform” rating in a research note to investors on Tuesday. They now have a $65.00 price target on the stock, down previously from $75.00. Finally, analysts at Wedbush raised their price target on shares of SanDisk Corp. from $71.00 to $82.00 in a research note to investors on Friday, January 17th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $70.65.
Shares of SanDisk Corp. (NASDAQ:SNDK) traded up 0.42% on Wednesday, hitting $72.19. 5,994,466 shares of the company’s stock traded hands. SanDisk Corp. has a 1-year low of $46.78 and a 1-year high of $74.14. The stock’s 50-day moving average is $69.71 and its 200-day moving average is $63.89. The company has a market cap of $16.307 billion and a P/E ratio of 19.01.
SanDisk Corp. (NASDAQ:SNDK) last released its earnings data on Wednesday, January 22nd. The company reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.14. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the previous year, the company posted $1.05 earnings per share. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. Analysts expect that SanDisk Corp. will post $5.19 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, February 24th. Shareholders of record on Monday, February 3rd will be paid a dividend of 0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.25%.
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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