SanDisk Sets New 12-Month High at $92.26 (SNDK)
SanDisk (NASDAQ:SNDK)’s share price hit a new 52-week high during trading on Tuesday , AR Network reports. The stock traded as high as $92.26 and last traded at $91.27, with a volume of 967,876 shares changing hands. The stock had previously closed at $91.61.
Several analysts have recently commented on the stock. Analysts at Sterne Agee reiterated a “buy” rating on shares of SanDisk in a research note on Friday. They now have a $92.00 price target on the stock. Separately, analysts at Macquarie raised their price target on shares of SanDisk from $85.00 to $110.00 in a research note on Thursday, May 15th. Finally, 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. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $92.46.
The stock has a 50-day moving average of $83.73 and a 200-day moving average of $74.68. The company has a market cap of $20.697 billion and a price-to-earnings ratio of 19.03.
SanDisk (NASDAQ:SNDK) last released its earnings data on Wednesday, April 16th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.84 earnings per share. The company’s revenue for the quarter 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 0.98%. The ex-dividend date of this dividend is Thursday, May 1st.
In other SanDisk news, CEO Sanjay Mehrotra sold 11,718 shares of SanDisk stock in a transaction dated Thursday, May 15th. The shares were 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.
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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