SanDisk Corp. PT Raised to $100.00 at Sanford C. Bernstein (SNDK)
Equities research analysts at Sanford C. Bernstein hoisted their price objective on shares of SanDisk Corp. (NASDAQ:SNDK) from $95.00 to $100.00 in a research note issued to investors on Wednesday, AnalystRatings.NET reports. Sanford C. Bernstein’s price target would indicate a potential upside of 34.07% from the stock’s previous close.
Several other analysts have also recently commented on the stock. 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 investment analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $74.42.
SanDisk Corp. (NASDAQ:SNDK) opened at 74.59 on Wednesday. SanDisk Corp. has a 52 week low of $48.88 and a 52 week high of $75.01. The stock has a 50-day moving average of $71.12 and a 200-day moving average of $65.51. The company has a market cap of $16.801 billion and a price-to-earnings ratio of 17.19. SanDisk Corp. also was the recipient of a large decline in short interest in 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. Currently, 8.8% of the company’s stock are short sold. Based on an average trading volume of 5,207,702 shares, the short-interest ratio is presently 3.8 days.
SanDisk Corp. (NASDAQ:SNDK) last released its earnings data on Wednesday, January 22nd. The company reported $1.71 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $1.05 earnings per share. The company’s quarterly revenue 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 announced a quarterly dividend, which is scheduled for Monday, February 24th. Investors 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 1.21%. The ex-dividend date is Thursday, January 30th.
In other SanDisk Corp. news, CEO Sanjay Mehrotra sold 69,244 shares of SanDisk Corp. stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $73.32, for a total value of $5,076,970.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
SanDisk Corporation designs, develops and manufactures data storage solutions in a range of form factors using its flash memory, controller and firmware technologies.