Insider Selling: Sanjay Mehrotra Unloads 3,750 Shares of SanDisk Stock (SNDK)
SanDisk (NASDAQ:SNDK) CEO Sanjay Mehrotra unloaded 3,750 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $93.18, for a total transaction of $349,425.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
A number of research firms have recently commented on SNDK. Analysts at Needham & Company LLC raised their price target on shares of SanDisk from $90.00 to $115.00 in a research note on Wednesday. They now have a “buy” rating on the stock. Finally, analysts at Sterne Agee reiterated a “buy” rating on shares of SanDisk in a research note on Friday, May 16th. They now have a $92.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. SanDisk has a consensus rating of “Buy” and a consensus target price of $93.36.
Shares of SanDisk (NASDAQ:SNDK) traded up 0.52% on Thursday, hitting $93.20. The stock had a trading volume of 2,868,936 shares. SanDisk has a 52-week low of $53.09 and a 52-week high of $94.01. The stock has a 50-day moving average of $84.54 and a 200-day moving average of $75.10. The company has a market cap of $21.127 billion and a P/E ratio of 19.26.
SanDisk (NASDAQ:SNDK) last released its earnings data 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 announced a quarterly dividend, which is scheduled for Tuesday, May 27th. Stockholders of record on Monday, May 5th will be paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Thursday, May 1st.
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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