SanDisk Sees Unusually High Options Volume (SNDK)
SanDisk (NASDAQ:SNDK) was the target of some unusual options trading activity on Wednesday. Investors bought 14,691 put options on the company, AnalystRatingsNetwork reports. This represents an increase of approximately 203% compared to the average volume of 4,843 put options.
In other SanDisk news, Director Catherine P. Lego unloaded 2,500 shares of the stock on the open market in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $96.73, for a total value of $241,825.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of research firms have recently commented on SNDK. Analysts at Bank of America upgraded shares of SanDisk from an “underperform” rating to a “buy” rating in a research note on Wednesday. They now have a $125.00 price target on the stock, up previously from $80.00. Separately, analysts at Summit Research downgraded shares of SanDisk from a “buy” rating to a “hold” rating in a research note on Tuesday. They now have a $87.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at Zacks reiterated a “neutral” rating on shares of SanDisk in a research note on Friday, May 30th. They now have a $101.00 price target on the stock. Eleven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $97.34.
Shares of SanDisk (NASDAQ:SNDK) traded up 2.59% during mid-day trading on Wednesday, hitting $99.66. 5,530,671 shares of the company’s stock traded hands. SanDisk has a one year low of $53.09 and a one year high of $100.49. The stock has a 50-day moving average of $91.08 and a 200-day moving average of $77.80. The company has a market cap of $22.592 billion and a price-to-earnings ratio of 20.18.
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. On average, analysts predict that SanDisk will post $6.07 earnings per share for the current fiscal year.
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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