Insider Selling: SanDisk Corp. CEO Sells 69,244 Shares of Stock (SNDK)
SanDisk Corp. (NASDAQ:SNDK) CEO Sanjay Mehrotra sold 69,244 shares of the stock on the open market in a transaction dated Thursday, February 13th. The stock was sold at an average price of $73.32, for a total transaction of $5,076,970.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
SNDK has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of SanDisk Corp. in a research note on Wednesday, January 29th. They now have a $73.00 price target on the stock. Separately, analysts at Argus raised their price target on shares of SanDisk Corp. from $75.00 to $80.00 in a research note on Thursday, January 23rd. They now have a “buy” rating on the stock. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of SanDisk Corp. in a research note on Thursday, January 23rd. They now have a $75.00 price target on the stock, up previously from $65.00. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. SanDisk Corp. currently has an average rating of “Buy” and a consensus price target of $73.61.
SanDisk Corp. (NASDAQ:SNDK) traded up 3.21% during mid-day trading on Thursday, hitting $74.40. 5,602,370 shares of the company’s stock traded hands. SanDisk Corp. has a 52 week low of $48.88 and a 52 week high of $74.14. The stock’s 50-day moving average is $70. and its 200-day moving average is $64.98. The company has a market cap of $16.759 billion and a P/E ratio of 16.61. SanDisk Corp. also was the target of a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 19,804,473 shares, a decline of 11.2% from the January 15th total of 22,309,141 shares. Approximately 8.8% of the company’s stock are short sold. Based on an average daily volume of 5,207,702 shares, the short-interest ratio is currently 3.8 days.
SanDisk Corp. (NASDAQ:SNDK) last issued its quarterly 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 $5.79 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, February 24th. Shareholders of record on Monday, February 3rd will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Thursday, January 30th.
SanDisk Corporation designs, develops and manufactures data storage solutions in a range of form factors using its flash memory, controller and firmware technologies.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.