SanDisk Corp. Upgraded to Buy at McLean Capital Management (SNDK)
SanDisk Corp. (NASDAQ:SNDK) was upgraded by investment analysts at McLean Capital Management from a “neutral” rating to a “buy” rating in a note issued to investors on Friday, Analyst Ratings News reports.
SNDK has been the subject of a number of other recent research reports. Analysts at Sanford C. Bernstein raised their price target on shares of SanDisk Corp. from $95.00 to $100.00 in a research note on Wednesday. Separately, 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. Finally, 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. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. SanDisk Corp. presently has a consensus rating of “Buy” and an average price target of $74.42.
In other SanDisk Corp. news, SVP Yehoshua Nir unloaded 9,000 shares of the company’s stock on the open market in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $74.64, for a total value of $671,760.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
SanDisk Corp. (NASDAQ:SNDK) traded down 0.68% during mid-day trading on Friday, hitting $74.80. The stock had a trading volume of 3,194,247 shares. SanDisk Corp. has a 1-year low of $49.13 and a 1-year high of $75.50. The stock’s 50-day moving average is $71.36 and its 200-day moving average is $65.6. The company has a market cap of $16.849 billion and a price-to-earnings ratio of 17.35. SanDisk Corp. also was the recipient of a significant 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. Currently, 8.8% of the shares of the stock are short sold. Based on an average daily volume of 5,207,702 shares, the days-to-cover ratio is currently 3.8 days.
SanDisk Corp. (NASDAQ:SNDK) last released its earnings data on Wednesday, January 22nd. The company reported $1.71 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.05 earnings per share. SanDisk Corp.’s revenue was up 12.1% compared to the same quarter last year. On average, analysts predict that SanDisk Corp. will post $5.79 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, February 24th. Stockholders 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 1.20%. The ex-dividend date 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.
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