SanDisk Given Buy Rating at Sterne Agee (SNDK)
SanDisk (NASDAQ:SNDK)‘s stock had its “buy” rating restated by stock analysts at Sterne Agee in a report issued on Friday, ARN reports. They currently have a $92.00 price target on the stock. Sterne Agee’s price objective would suggest a potential upside of 4.17% from the company’s current price.
SanDisk (NASDAQ:SNDK) opened at 88.32 on Friday. SanDisk has a one year low of $53.09 and a one year high of $92.14. The stock’s 50-day moving average is $83.06 and its 200-day moving average is $74.30. The company has a market cap of $20.021 billion and a P/E ratio of 18.35.
SanDisk (NASDAQ:SNDK) last posted its quarterly earnings results on Wednesday, April 16th. The company reported $1.44 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.25 by $0.19. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the company posted $0.84 earnings per share. The company’s quarterly revenue was up 12.8% on a year-over-year basis. Analysts expect that SanDisk will post $6.06 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, May 27th. Stockholders of record on Monday, May 5th will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend is Thursday, May 1st.
In other SanDisk news, CEO Sanjay Mehrotra sold 11,718 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $88.69, for a total value of $1,039,269.42. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
A number of other firms have also recently commented on SNDK. Analysts at Macquarie raised their price target on shares of SanDisk from $85.00 to $110.00 in a research note on Thursday. Separately, analysts at Wedbush raised their price target on shares of SanDisk from $92.00 to $98.00 in a research note on Friday, May 9th. Finally, analysts at Robert W. Baird raised their price target on shares of SanDisk from $72.00 to $85.00 in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $92.46.
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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